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LLOYD BLANKFEIN AIN’T NO DUMMY

Goldman Sachs selling shares sounded awfully familiar.  I did a little sleuthing and remembered that Goldman sold shares last September at $123 (gee, those terms look familiar…) just before the market tanked.   This was the date of the great Buffett investment.  The investment where Buffett negotiated better terms than the U.S. government could….We all know what happened after that.  The market fell off a cliff and GS stock fell 62%.  The boys in the corner offices at Goldman aren’t stupid.  They’re selling high.  Did Goldman just top-tick the bear market rally?

dsgag

9 comments
  1. Avatar
    Eric Sebille

    Is the CNBC crew still cheerleading the goldman “blowout” quarter? As PT Barnum once said….

  2. Avatar
    FDO15

    TPC has been calling this market correctly for months, but you don’t read any of the stuff he writes about on CNBC. They’re as bad as Fox news. Fair and balanced. more like misleading and cheerleading.

  3. Avatar
    yoyorider

    In the morning, I caught Maria B explaining how GS earnings were about them turning the ship around authoritatively… No mention of the change in accounting months for the 1st quarter, new share offering, etc. I guess we are out of trouble if CNBC says so.

  4. Avatar
    Eric Sebille

    I think Santelli, Cashin, and Pisani add value…other than that it is a circus with guys like Dennis Kneale and Donny Deutche on the air.

  5. Avatar
    Cullen Roche

    It’s kind of ridiculous. There was almost no mention of the 34% increase in FICC that resulted in more than HALF of their revenues. The fixed income trading alone should raise a huge red flag for anyone who is invested in GS. You just can’t expect to get the real scoop from CNBC. The reporters aren’t all that sophisticated and 90% of their guests have been entirely wrong about this market for the last two years. Dick Bove was on this morning….That guy called the banks a generational buy over 65% higher than they are today….

  6. Avatar
    Wingobyte

    Yeah when I was trading for my hedge fund, I used to see this guy on TV so much the past couple of years touting bank stocks all the way down, dont know why he gets so much air time for making so many wrong calls….though he was right on this rally back up since march but after being wrong for so long, he was bound to be right sometime.

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