Goldman Sachs (GS) 02 (May 10 - Dec 24)

Re: Goldman Sachs (GS) 2 (May 10 - Oct 10)

Postby winston » Thu Aug 19, 2010 9:39 pm

Goldman Tells Its "Special" Clients To Sell Gold Even As It Raises Its Price Target On The Shiny Metal by Tyler Durden

A week ago Goldman raised its price target on gold to $1,300/ounce, an action which judging by the firm's historical record of putting its clients' interest in its rightful last place, led us to be skeptical:

"The report will likely result in a brief pop in spot as the idiot money rushes into the latest Goldman trap. Alas, it also means that GS is now offloading. Be very wary of market dynamics over the next month."

Today we realize our skepticism was perfectly justified: in the latest Perspectives from Goldman Sachs Asset Management (intended FOR BROKER-DEALER, FINANCIAL INSTITUTION, OR INSTITUTIONAL INVESTOR USE ONLY. NOT FOR DISTRIBUTION TO CLIENTS OR THE GENERAL PUBLIC), in addition to summarizing all the other recent actions presented by the firm's key departments, way in the back, in very small print when discussing commodities, the letter author notes:-

"Shifted our stance on gold after years of being long; see gold as vulnerable to Central Bank inactivity in the face of rising deflation risk."

Once again, those who bet that Goldman does precisely the opposite of what it tells clients to do, win.


http://www.zerohedge.com/article/goldma ... hiny-metal
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Re: Goldman Sachs (GS) 2 (May 10 - Oct 10)

Postby kennynah » Thu Aug 19, 2010 11:40 pm

i'm waiting patiently for /YG to touch $1250...and then, eyes close close....SHORT.... 8-)
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Re: Goldman Sachs (GS) 2 (May 10 - Oct 10)

Postby winston » Tue Oct 19, 2010 10:31 pm

Goldman Sachs earns $1.74B, easily tops forecasts

Goldman Sachs Group Inc.'s earnings easily beat analysts' forecasts again, but the bank saw a big slowdown in trading, its most profitable business.

Net income after paying preferred dividends fell 43 percent from the year-ago period as revenue in the bank's bond, currency and commodities trading division fell sharply.

Goldman Sachs' income fell to $1.74 billion, or $2.98 per share, the bank said Tuesday. It earned $3.03 billion, or $5.25 per share, during the same three-month period last year. Analysts polled by Thomson Reuters predicted earnings of $2.32 per share.

Revenue fell 28 percent to $8.9 billion, but still came in well ahead of the $7.92 billion analysts had forecast. Goldman's shares rose $2.50 to $156.20 in morning trading, despite a broad decline in the stock market.

Analysts have been expecting Goldman's earnings to decline because of slower trading, and have been slashing their estimates in recent weeks. A month ago, analysts' average forecast was for income of $3.05 per share.

Goldman's trading volume fell in the third quarter amid historically low interest rates and waning market volatility. Those low rates benefited Goldman's investment banking division, however, which reported a 24 percent jump in revenue. With borrowing rates so low, many companies were eager to issue new debt.

The decline in Goldman's overall revenue was also tied to a slowdown in stock trading and a weaker return on its investment in Industrial and Commercial Bank of China Ltd. Goldman's stake in the Chinese bank generated just $9 million in revenue during the quarter, down from $344 million during the same quarter last year.

The New York-based bank continued to reduce compensation costs. The bank was strongly criticized during the financial crisis for doling out big paychecks even after it received government aid and while the broader economy suffered.

Goldman set aside $3.83 billion for compensation and benefits during the quarter. It has now set aside $13.12 billion for compensation during the first nine months of the year, a 21 percent drop from the same period last year.

Compensation totaled 43 percent of the company's revenue for the year so far, down from 47 percent last year.

Source: AP News
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Re: Goldman Sachs (GS) 2 (May 10 - Oct 10)

Postby LenaHuat » Tue Nov 23, 2010 8:05 am

LenaHuat on 16 July 2010 wrote:Up to this moment, I was all wrong abt GS. It settled the case pertaining to John Paulson with the SEC for a payment of $550 million (which is only 14 days' of earnings :o ). The case against employee, Fabrice Tourre, and 'other' litigations are still in progress. Will these be ant bites?


I'm still waiting for the rotan and not ant bites. Wall Street never started off as a level playing field for the masses. It got greedier during the period 2000 to 2007 and GS was in the leading pack. I hope it more than re-tests the low of 131. In fact I hope it crashes at 100, which had been my secret wish during the global financial crisis. When we see the SEC's rotan (and not wooden cane. The Western media reported that the Swiss MRT vandal was punished with a wooden cane :lol:), it will meet MainStreet's expectations of a cleaning up job well done.
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Re: Goldman Sachs (GS) 2 (May 10 - Oct 10)

Postby winston » Wed Jan 19, 2011 3:33 pm

Not vested

Goldman Sachs Group Inc <GS.N> reports its earnings later in the day, with analysts expecting quarterly profit to have fallen by roughly half, hit by the same adverse fixed income trading environment that slammed Citigroup Inc's <C.N> results a day earlier.

Goldman shares have held up far better than many rivals. Its shares closed Tuesday at $174.68, above where they were when the financial crisis exploded in September 2008.

"I'm expecting a pretty good quarter, but expectations have gotten up there as you can tell by the stock price," said Keith Davis, an analyst at Farr, Miller & Washington in Washington, D.C., which invests $710 million and owns Goldman stock.


Source: Reuters
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Re: Goldman Sachs (GS) 2 (May 10 - Jun 11)

Postby winston » Thu Feb 24, 2011 7:27 am

Goldman's Blankfein Opposed Raising Salaries Months Before His Own Tripled

Lloyd Blankfein , Goldman Sachs Group Inc .’s chairman and chief executive officer, warned against raising base salaries on Wall Street less than eight months before his own more than tripled to $2 million.

http://www.bloomberg.com/news/2011-02-2 ... ipled.html
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Re: Goldman Sachs (GS) 2 (May 10 - Jun 11)

Postby LenaHuat » Thu Jul 07, 2011 9:45 pm

From CNBC. Banking is no longer blue but these banksters' are not suffering haircuts :twisted:
Goldman's return on equity, a key measure of profitability, fell to 12 percent at the end of last year from 23 percent at the end of 2009. Before the crisis, Goldman reported returns on equity as high as 33 percent in 2006 and 2007.


Following the posts about Kwa Geok Choo's father, I have since learnt that these people were banksters (which rhyme with gangsters) long before they were rehabilitated as bankers.
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Re: Goldman Sachs (GS) 2 (May 10 - Jun 11)

Postby winston » Tue Jul 19, 2011 8:33 pm

Goldman Sachs profit misses expectations

NEW YORK (Reuters) - Goldman Sachs Group Inc's <GS.N> net income rose during the second quarter but fell short of lowered market expectations as fixed income trading revenue dropped sharply.

The biggest U.S. investment bank by assets earned $1.05 billion, or $1.85 per share, more than double the $453 million, or 78 cents per share, of a year earlier, Goldman said on Tuesday.

Revenue dropped 17.6 percent to $7.3 billion, while expenses fell a more dramatic 23.3 percent. Fixed income, currency and commodities trading revenue fell 53 percent to $1.6 billion.

Analysts, on average, had forecast earnings of $2.27 per share on revenue of $8.1 billion, according to Thomson Reuters I/B/E/S.

Source: Reuters US Online Report Business News
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Re: Goldman Sachs (GS) 2 (May 10 - Jun 11)

Postby winston » Wed Jul 20, 2011 9:25 am

The Future of the Stock Market Depends on this Company By Jeff Clark
Tuesday, July 19, 2011


The stock market is teetering on the edge of the abyss.

If the S&P 500 can't hold the 1,300 level, 1,250 could be in the cards. If the index can climb back in off the ledge and somehow manage to rally from here, we could be looking at new yearly highs by August.

There's a lot at risk. And there's a lot of potential reward. So who can you trust to steer you in the right direction?

Goldman Sachs (GS).

That's right. The stock everyone loves to hate holds the key to the summer-time action of the stock market.

By the time you read this, GS will have already reported earnings for the quarter. More important than what the company says is how the market reacts to the announcement. As Goldman Sachs stock goes… so goes the market.

Goldman is the stock market's "canary in the coal mine." When it performs well, the stock market performs well. When it's weak, so is the rest of the market.

As you can tell from the following chart, Goldman Sachs has been an anchor around the neck of the market since April…

The broad stock market cannot rally without leadership from the financial sector. If the leading financial stock in the country is under pressure, the entire stock market will have trouble gaining ground. GS peaked in April and was a leading indicator for the recent correction in the stock market.

However, this GS chart looks like it's trying to form a bottom. The stock is falling and making new yearly lows, but the MACD momentum indicator is rising. This positive divergence tells us the momentum behind the decline is weakening. It won't take much to pop the stock higher and reverse the downtrend.

It all depends on how the market reacts to the earnings announcement today. If GS shares rally and close higher on the day, the odds favor a summer rally for the broad stock market.

On the other hand, if GS closes lower today, the S&P may need to retest its spring-time lows before finding a bottom.

Either way, there's a lot riding on the way GS trades today. Smart traders will pay attention to it.


Source: Growth Stock Wire
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Re: Goldman Sachs (GS) 2 (May 10 - Jun 11)

Postby iam802 » Wed Jul 20, 2011 10:45 am

Chart does not look good for GS

http://stockcharts.com/h-sc/ui?s=GS&p=D ... 7987261336

In fact, I am not bullish on Financials.
1. Always wait for the setup. NO SETUP; NO TRADE

2. The trend will END but I don't know WHEN.

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