Goldman Sachs (GS) 02 (May 10 - Dec 19)

Re: Goldman Sachs (GS) 1 (Jun 08 - May 10)

Postby lithium » Mon May 10, 2010 10:32 pm

He he, paiseh my lau ya TA. :oops:
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Re: Goldman Sachs (GS) 1 (Jun 08 - May 10)

Postby millionairemind » Tue May 11, 2010 9:04 am

Looks like the giant vampire squid is a favorite punching bag...

Published May 11, 2010

Goldman Sachs warns of more probes, suits

It discloses several UK investigations related to CDOs


(NEW YORK) Goldman Sachs Group, facing fraud charges from US securities regulators, yesterday warned that more litigation and investigations could be coming.

Goldman, in a quarterly regulatory filing, disclosed a number of probes and reviews that could be damaging to Wall Street's most influential firm.

It said that it anticipates additional shareholder actions and other investigations related to its offerings of collateralised debt obligations (CDO), which are at the heart of Securities and Exchange Commission charges against the firm.

The company received letters from shareholders 'demanding the board take action to address alleged misconduct' by Goldman Sachs and certain officers and employees, it said in the filing.

Goldman shares have tumbled more than 20 per cent since the SEC accused the bank on April 16 of failing to tell investors who bought risky debt tied to sub-prime mortgages that hedge fund manager John Paulson helped select the underlying portfolio for a mortgage-linked security and was shorting the deal.

Goldman, in its filing, said that the SEC case 'could result in collateral consequences to us that may materially adversely affect the manner in which we conduct our businesses.'

Namely, certain outcomes could impact the firm's ability to act as broker-dealer or provide certain advisory and other services to US registered mutual funds, it said.

Goldman, criticised for not disclosing that it had received notice last year of the likelihood of SEC charges, disclosed several investigations yesterday, including probes by the Financial Industry Regulatory Authority and the UK's Financial Services Authority related to CDO offerings and related matters.

The bank said that it is cooperating with a number of investigations and reviews into its sales and trading operations as well as inquiries into the financial crisis, including transactions with American International Group Inc, Bear Stearns and Lehman Brothers.

It also disclosed that it is subject to inquiries related to its transactions with the government of Greece, including financing and swap transactions. -- Reuters, Bloomberg
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Re: Goldman Sachs (GS) 1 (Jun 08 - May 10)

Postby millionairemind » Wed May 19, 2010 1:21 pm

Goldman Sachs Hands Clients Losses in ‘Top Trades’ (Update1)
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By Ye Xie


May 19 (Bloomberg) -- Goldman Sachs Group Inc. racked up trading profits for itself every day last quarter. Clients who followed the firm’s investment advice fared far worse.

Seven of the investment bank’s nine “recommended top trades for 2010” have been money losers for investors who followed the New York-based firm’s advice, according to data compiled by Bloomberg from a Goldman Sachs research note sent yesterday.
Clients who followed the tips lost 14 percent buying the Polish zloty versus the Japanese yen, 9.4 percent buying Chinese stocks in Hong Kong and 9.8 percent trading the British pound against the New Zealand dollar.
http://www.bloomberg.com/apps/news?pid= ... Y0FU&pos=3
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Re: Goldman Sachs (GS) 1 (Jun 08 - May 10)

Postby kennynah » Wed May 19, 2010 1:34 pm

May 19 (Bloomberg) -- Goldman Sachs Group Inc. racked up trading profits for itself every day last quarter. Clients who followed the firm’s investment advice fared far worse.


so how can this happen...if they had dished out advice as per their own trades, conceivably, all of their clients who followed GS trades should also have made money as often as GS did...

not unless, GS took the opposite side of their clients' trades...

and this was exactly what the senate committee was trying to get GS to acknowledge...that they dumped junk onto their clients...instead of helping them as obligated...
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Re: Goldman Sachs (GS) 1 (Jun 08 - May 10)

Postby millionairemind » Sun May 23, 2010 12:54 pm

And this giant vampire squid did take the opposite side of the trade.. :evil:

Goldman Revises Gold Forecast, Now Constructive, As It Sells Gold To Clients
Submitted by Tyler Durden on 05/17/2010 16:55 -0500

A month ago we posted an article which we titled: "Goldman Again Buying Gold, Selling Copper As It Lowers Gold Price Forecast, Boosts Copper" in which we speculated, as the title suggests, that since Goldman had turned bearish on gold, we were expecting gold price to jump as Goldman was once again implicitly buying the precious metal from its clients.

Sure enough, a month later and $100 dollars higher, Goldman has once again performed its non-fiduciary duty and released another commodities update in which the firm is now quite constructive on gold.

And all it took was a month (and some called us cynical). That said, as Goldman is now selling gold, it may be time to reevaluate gold positions, at least from a technical trade perspective.

http://www.zerohedge.com/article/goldma ... ld-clients
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Re: Goldman Sachs (GS) 1 (Jun 08 - May 10)

Postby LenaHuat » Sun May 23, 2010 9:03 pm

The vampire squid :o :
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Please be forewarned that you are reading a post by an otiose housewife. ImageImage**Image**Image@@ImageImageImage
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Re: Goldman Sachs (GS) 1 (Jun 08 - May 10)

Postby iam802 » Wed May 26, 2010 11:18 pm

If Goldman is downgraded, don't expect DOW to go up by too much.

--
Goldman, BNP Paribas Downgraded by Bondholders: Credit Markets

http://www.bloomberg.com/apps/news?pid= ... yZbc&pos=4
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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Re: Goldman Sachs (GS) 2 (May 10 - Oct 10)

Postby millionairemind » Wed Jun 02, 2010 10:43 am

Another case of the GIANT VAMPIRE SQUID taking the opposite side of the trade recommendations that their analyst puts out.

A Series Of Lucky Coincidences Involving Goldman Sachs And BP plc
Submitted by Tyler Durden on 06/01/2010 20:54 -0500

Goldman Sachs Goldman Sachs Asset Management ratings World Trade

Earlier, when observing the US AG disclosure of a civil and criminal investigation into BP plc, we noted in passing that BP's former Chairman, Peter Sutherland, who left the firm is a Chairman of Goldman Sachs International. Mr. Sutherland holds some other interesting titles, including a position on the Trilateral Commission, he was a chairman of the London School of Economics in 2008, he is a UN special representative for migration and development; he was the founding director-general of the World Trade Organisation, he had previously served as director general of GATT since July 1993 and was instrumental in concluding the Uruguay GATT Round Negotiations. Needless to say, we focused on the Goldman relationship. When digging deeper, we uncovered some amusing correlations, most notably between the BP plc sellside ratings by Goldman BP analyst Michelle della Vigna and the Goldman Sachs Asset Management holdings of BP plc. These are summarized on the attached chart.

And in case this is not enough, another way to visualize Goldman's rating history, together with price targets on BP is presented below, straight from GS itself:

As the first chart above demonstrates, there is an "odd" correlation between Goldman's sellside sentiment on the stock, and the amount of stock held by Goldman's asset management arm, especially evident in the days between December 31, 2009 and March 31, 2010, when despite a recent Buy rating attached to the firm, GSAM sold off more than 40% of its stake in the name. On December 31, Goldman held 71 million BP shares, and three months later this number went down 42.5 million. Another oddity is that back in 2008, when GS had the stock at Neutral, GSAM doubled its stake in the firm from 28.8 million shares to 57.3 million days before Ms. della Vigna raised the stock to a Buy, albeit if only for just over a month. Oddly enough, in the half year period when Goldman was telling its clients to Sell the stock, between 3/31/2009 and 10/28/2009, GSAM holdings declined by a whopping -3.9%.

Yet while the fact that GSAM did not follow the recommendations of its very own analyst is not peculiar. We have long pointed out that Goldman does precisely the opposite of what it advises its "clients" to do. What is slightly more troubling is the combination of Mr. Sutherland's departure from BP effective January 1, the release of his fiduciary obligations to BP shareholders, the upgrade of BP by Goldman from Neutral to Buy 4 days before Sutherland's full, and non-conflicted return to the GSI Chairmanship, and last but not least, the dumping of 28 million BP shares by GSAM in the next three months, an act which has saved the asset manager roughly GBP50 million.

We are confident that all of the above is purely coincidental.
http://www.zerohedge.com/article/series ... chs-bp-plc
"If a speculator is correct half of the time, he is hitting a good average. Even being right 3 or 4 times out of 10 should yield a person a fortune if he has the sense to cut his losses quickly on the ventures where he has been wrong" - Bernard Baruch

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

Postby iam802 » Wed Jun 02, 2010 11:30 am

Just short GS.

The lawsuits, the bad name is going to turn their clients away eg AIG.

Won't that be considered as 'drop in revenue' ?
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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Re: Goldman Sachs (GS) 2 (May 10 - Oct 10)

Postby kennynah » Wed Jun 02, 2010 12:52 pm

above article wrote:We are confident that all of the above is purely coincidental.


rubbing salt to the open wound... :lol: :lol:
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