Buffet gave his thumbs up to GS in Omaha this weekend, so GS may see a bounce just on his say-so. I thought it might get down to 141ish - Fri low only got to 143.30. http://www.elitetrader.com/vb/showthread.php?threadid=196410&perpage=6&pagenumber=60 but with all the news swirling around it, you can never be sure what is going to jerk it around next.
Salomon. Went from top dog to bit player in a few years due to reputational problems. Buffett was in there too, he's the main reason they didn't go from top dog to insolvent.
Ok, A Andersen and Salomon. I wasn't aware that Salomon's rep had taken that much of a hit. Thanks for the responses. Just read the Buffet bio (the shorter one by Lowenstein, not that 1000 page behemoth) and it was interesting to read about the moves which surrounded his Salomon rescue. I agree with those who say that from a trader's perspective, the percentage play long is to wait for a deeper selloff, with some sort of higher volume blowout day.
Agreed! That was a good post! For those who use Vectorvest, they've been thumbs down on GS.(I know, VV has some cheesy ads, and some people like them, some don't, etc., but they were right on the call.)
Is GS the next Drexel? http://finance.yahoo.com/news/Will-Goldman-Sachs-Become-etfguide-4244108459.html?x=0&.v=1 "Will Goldman Sachs Become Drexel Sachs?" They in the news again for SemGroup and Basis Fund. Lloyd needs to go out and do more PR.
Goldmanâs plans appear to have sent city and state officials into giddy ecstasy. They quickly agreed to give the company a hundred and fifteen million dollars in tax breaks and cash grants to build the new tower. More singular still, state and local governments decided to give the firm another big subsidy by letting it use $1.65 billion in tax-exempt Liberty Bonds, intended to stimulate economic development after 9/11, to cover part of the buildingâs $2.1-billion cost. Last month, Goldman announced that it had made a profit of nearly three and a half billion dollars in the first quarter of this yearâenough to have paid for the entire building, in cash, in a couple of months, without any help from taxpayers. Read more: http://www.newyorker.com/arts/critics/skyline/2010/05/17/100517crsk_skyline_goldberger#ixzz0oKNkd3iB