Goldman Sachs (GS)

HenryTo · Posted: Tue Oct 16, 2007 9:21 am Post subject: Goldman Sachs (GS)

Goldman losing its glitter as the 10-Q is released:

http://money.cnn.com/2007/10/14/news/companies/goldmanearns.fortune/index.htm?postversion=2007101505

rffrydr · Posted: Wed Apr 09, 2008 8:10 am Post subject:

60billion to 90billion in Level 3 assets. With Lehman showing modest increase. Time to reverse this spread.
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rffrydr · Posted: Tue Mar 18, 2008 6:40 am Post subject:

11 Straight:

http://www.bloomberg.com/apps/news?pid=20601087&sid=a1iWl3eipg4o&refer=home
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rffrydr · Posted: Mon Mar 17, 2008 8:16 am Post subject:

Buy the LEH bonds. The problem with GS is stated above. They have a huge profit booked on indices they cannot trade to cover. That's fine for now. A refi boom looks far away since the mortage spreads continue to widen. They are scrambling around buying suprime portfolios to try and lock this profit in. They'll probably achieve it given this much op. but maybe prisoner to cash. --So, it's possible that just in the meat of your rally you get nailed from subprime in reverse. That would be a real one from left field. They are almost unique in this respect. DeutscheBank is in a similar "risk." You could do some spread.
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lmrhoades · Senior Poster Joined: 17 Jan 2008 Posts: 112

Anyone here thinking Goldman might be a steal at these prices? I'm thinking of jumping in on some options...anyone care to talk me out of it?
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LMR

HenryTo · Posted: Sun Mar 16, 2008 10:32 am Post subject:

Goldman rumored to post $3 billion in write-downs when it announces earnings on Tuesday.
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Goldman Sachs to unveil $3bn writedown - UK paper

LONDON, March 16 (Reuters) - Investment bank Goldman Sachs (GS.N: Quote, Profile, Research) will announce asset writedowns of $3 billion when it posts earnings on Tuesday, Britain's Sunday Telegraph newspaper reported, without naming sources.

The company will report a fall of about 50 percent in first-quarter earnings, the newspaper said.

Goldman Sachs was not immediately available for comment.

Goldman will take a hit of around $1.6 billion in its leveraged loan business, $1.1 billion in connection with assets owned by its private equity arm and will have to writedown the value of its stake in Industrial & Commercial Bank of China (ICBC) (601398.SS: Quote, Profile, Research), the story said.

Shares in ICBC have fallen around 14 percent in the last two months.

Goldman will point out that its exposure to the sub-prime mortgage market remains minimal, the paper said, according to unnamed people close to the bank.

rffrydr · Posted: Thu Feb 14, 2008 7:53 pm Post subject:

Reeled in:

http://stockcharts.com/h-sc/ui?s=GS:LEH&p=D&b=5&g=0&id=p89636525421
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rffrydr · Posted: Thu Jan 31, 2008 9:44 pm Post subject:

It'll be iteresting if some of those BBB rated ABXs "jump" back to 90 in a refi binge (assuming the "qualifications"). --Interesting on GS bottom line, if their subprime companies' portfolios can't match the exposure.

Risk and reward go hand-in-hand and nowhere is that more clear than in the accompanying graphic; the best-of-the-best is also the worst-of-the-worst:

http://www.economist.com/finance/displaystory.cfm?story_id=10339407
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rffrydr · Posted: Thu Oct 25, 2007 7:52 am Post subject:

Goldman debt ranked second yesterday in spread widening--the stock finished mildly up.
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Today is the Tomorrow you worried about Yesterday!

HenryTo · Posted: Tue Oct 16, 2007 10:39 am Post subject:

Thanks rffrydr, for the mention. Here is the accompanying FT article on the ABX Indices:

http://www.ft.com/cms/s/2/391a0660-7b38-11dc-8c53-0000779fd2ac,dwp_uuid=e8477cc4-c820-11db-b0dc-000b5df10621.html

rffrydr · Posted: Tue Oct 16, 2007 9:41 am Post subject:

I think I mentioned that we'd better wait for 10Qs with these invsement banks a few weeks back. Info was released after "careful consultation" with the Treas. Dept.

Goldman's coup, short recent tranches of ABX is hard-to-value because it doesn't really exist anymore. Markit has not been able to put together an O8 tranch and the 1st half 07 has ceased trading. Big shorts will just have to wait out the payment delinquencies and see what happens.

Indexing strikes in the strangest places.
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