From FT: Goldman Sachs has hiked its forecasts for Chinese GDP and reckons the magical growth figure of 8 per cent could be reached this year. The bank says better than expected results from November’s huge fiscal stimulus package and aggressive policy easing are behind its upgrade. Maybe Goldman understands this or maybe not, but…
Goldman Sachs
Market Recap: Stocks Go Their "Separate Ways"
[youtube=http://www.youtube.com/watch?v=lUYe0XLe4o8&feature=PlayList&p=F5713BA3870442B9&index=0&playnext=1] Stocks and investors went their “Separate Ways” today, so I thought it appropriate to pass along this video of the band Recess doing a cover of Journey‘s hit by that name. The singer is 9 years old, guys. Today, the 6 week stock market rally stalled as investors digested the earnings from Bank of…
Goldman & Citi: The Pot and The Kettle
So Goldman Sachs (GS) doesn’t like how Citigroup (C) made it’s numbers last week. Well neither do the rest of us, but we also don’t like how Goldman made their own numbers! From Bloomberg: While Citigroup posted first-quarter net income of $1.6 billion last week, the New York-based bank suffered an “underlying” loss of 38 cents a…
Hot Links: CNBC, Positivity, Thomas Weisel & Credit Cards
Hot Links for Weekend Reading Ever wondered what CNBC actually stands for? Its their 20 year anniversary, so check out The Business Insider (the old Clusterstock) for the answer and amaze your friends and co-workers! Also on TBI, James Cramer breaks his silence on his appearance with The Daily Show’s Jon Stewart. Twas an ambush….
Market Recap: Hot Hospitals & Goldman's Lyin' Eyes
[vodpod id=ExternalVideo.810392&w=425&h=350&fv=%26rel%3D0%26border%3D0%26] The Reformed Broker, AKA The Iron Condor, here with today’s Market Recap… The double and triple-long bank crowd may have stayed one day too late as the financials took a breather, with the KBW Bank Index (BKX) off over 6.5% on the day. Maybe the enthusiasm for the group waned on the heels of Goldman‘s…
The Two Most Important Points From Today's Goldman Call
Goldman Sachs held an earnings conference call early this morning which was live-blogged by the New York Times‘ columnist Floyd Norris. Good, ’cause I had some Cookie Crisp cereal to eat right around that time. Congrat’s on your $5 billion capital raise, but I gots to feed the machine. There were two notable things on…
Market Recap: Bank Shorts Were Lunch Meat Today
[youtube=http://www.youtube.com/watch?v=mGMT99i00M4] The Reformed Broker, AKA Jackie Treehorn, here with today’s Market Recap… Plenty of traders put on bank stock shorts on the heels of last week’s positive pre-announcement from Wells Fargo (WFC). They didn’t like how the numbers were put together or thought the move was too much or both. Their money was confiscated today as…
The Goldman Sachs Backlash is Picking Up Steam
Goldman Sachs (GS) has been able to stay above the fray more than most of its (former) competitors over the last 6 months. Its share price has stayed above single digit-ville and Buffett‘s investment in the company was seen by many as the Omaha Good Housekeeping Seal of Approval. Now that AIG has been incinerated…
A Day in the Life: Hank Greenberg
A Day in the Life of Maurice “Hank” Greenberg 7:00 am: Wake up. CD alarm clock plays “It’s All Over Now” by The Rolling Stones. 7:05 am: Mutters “wasn’t my fault” on the way into the shower. 7:30 am: Breakfast, includes 2 egg whites, one half grapefruit, one heaping bowl of Gorilla Munch cereal (from…
Goodbye Rick Wagoner…and Maybe GM
In the New York Times, Micheline Maynard wrote a pretty balanced account of how Rick Wagoner became CEO of General Motors (GM) to start with and why many of the problems facing the company were already in place before he took control about a decade ago. The article raises more questions than it actually answers….
