RSS feedgoldman sachs
’Goldman’s € forecast: down and up
That’s a facetious title, for sure — but also broadly accurate.
Thomas Stolper and team at G Sachs have adopted a new quantitative two-stage model for mapping their macro views on to the likely possible course of the $ vs the €.
Plus ça (accounting) change at Goldman
What’s this? Something you haven’t seen before in Goldman Sachs’ results?
Net revenues in Investing & Lending were $2.14 billion for 2011. Results for 2011 included a loss of $517 million from the firm’s investment in the ordinary shares of Industrial and Commercial Bank of China Limited (ICBC) and net gains of $1.12 billion from other investments in equities,
Goldman in Q4…
Goldman in the fourth quarter: revenue miss ($6.05bn vs $6.54bn), 43 per cent plummet in investment banking revenue, but earnings per share rescued by…
Compensation and benefits expenses (including salaries,
Fiscal flailing, continued
Goldman Sachs has updated this chart, which shows the projected impact of fiscal policy on GDP growth, to reflect its latest assumptions (see the previous version here):
The dotted line that dips through 2012 is what would happen if,
Interview with Goldman’s Jan Hatzius
We interviewed Goldman’s Jan Hatzius yesterday about the 2012 outlook and a few other things for FT.com, but we’ve embedded below a longer version of the clip with only light edits (just enough to deal with the inexperienced host’s annoying tendency to um and ah).
Lloyd C. Blankfein wants YOUR feedback
Well, not yours, obviously. But random market professionals in the City of London who in recent days have been contacted by the mighty Goldman Sachs.
From: Lloyd C. Blankfein [mailto:gsbrandsurvey@ny.email.gs.com]
Sent:
Looking at the eurozone through a NIIP prism
Whichever way you look at it, the eurozone crisis is ugly.
But looking at the overall indebtedness of peripheral economies instead of focusing solely on their public sector debt offers an interesting perspective on the problem,
Findings in the Goldman Sachs 10q filing
There’s a few interesting nuggets in Goldman Sachs latest 10q, which the bank filed on Wednesday.
As Goldman’s 3Q earnings suggested, it was a volatile quarter on the trading floors. Goldman traders lost money on 21 single days over the quarter,
Bernanke could do better
Having floated the idea that the Federal Reserve should target a nominal level of GDP, Goldman’s top economist Jan Hatzius is none too pleased that Ben Bernanke shot the suggestion down in Wednesday’s post FOMC presser.
A Goldman guide to the monetary policy playground
Goldman Sachs welcomes you to the modern world.
The US bank has put out a primer on “‘unconventional’ unconventional policies” to guide us through the maze of recent central bank moves from ‘operation twist’ to UK QE2 and the imposition of a minimum rate for the EUR/CHF exchange rate by the Swiss National Bank.
The continuing mystery of US banks’ European exposure
Europe may or may not be saved but Q3 earnings releases by US banks suggest they’re content with their exposure to the continent.
We looked at the methodology behind exposure disclosure in this post.
Should the Fed target a nominal level of GDP?
Anything Lord Wolfson can do…
LONDON, Oct 19 (Reuters) – A leading British businessman is offering a 250,000 pound ($390,000) reward for economists who can come up with the best plan for countries to quit the European single currency zone.
Goldmaarghn
No (overt) funny business with automatic credit spreads-related gains at Goldman… just rubbish markets and its second ever quarterly loss (-$428m) as a public firm:
Related link:
It’s going to be a miserable third quarter for banks,
Presenting G4SISS
Bold, strategic, reckless?
There are a number of ways to view G4S’s proposed acquisition of Danish rival ISS for £5.2bn.
It’s certainly bold. ISS is a bigger business than G4s – revenues of £8.55bn against £7.39bn — and G4S expects to deliver double-digit EPS accretion and double-digit post-tax ROIC within three years.
It’s going to be a miserable third quarter for banks, say banks
US bank reporting season is almost upon us and we’re looking forward to investigating the mysteries surrounding the performance of the bulge bracket since the turn of the year.
To give you a sense of how bad it’s been for the 1 per cent,
Goldman helps a frenemy in need
Can olive branches stem bleeding?
Goldman Sachs Options Research made a bold recommendation Friday to buy $16 calls on Morgan Stanley and to sell short-dated CDS. MS reports earnings on October 17 and Goldman argues that they will surprise on the upside,
Goldman predicts a fire sale of USD assets by French banks
There were a few cheeky titbits in an otherwise workmanlike Goldman Sachs note published Wednesday on US banks.
First up for a teasing: French banks. As we know, US banks are sitting ducklings in the middle of the European maelstrom.
Not even breaking even at Goldman Sachs
Credit Suisse bank analysts have gone one further than their Nomura counterparts by forecasting Goldman Sachs to register its second quarterly loss since going public in 1999.
It’s the second cut that the CS analysts have made to their estimates in a month.
Breaking even at Goldman Sachs
Thought the recent pick-up in trading volumes would be good news for the big investment and universal banks?
Think again.
Nomura’s US banks analyst Glenn Schorr has just taken the red pen to forecasts for the second time in a month.
Goldman: European banks are killing US
Correlation is to financial journalists what patriotism is to scoundrels. Nevertheless, this chart from a Goldman Sachs note published on Wednesday still suggests just how quickly US and European banks have begun to move in lockstep:
Do traders dream of defaulting Greeks? [updated]
Update: 12.30pm (London time) — We’re not sure how to put this… but lots of people seem to believe that Mr Rastani is a hoax perpetrated by the Yes Man.
Compare the video below with this recent Yes Men hit on the BBC:
Wheel comes off Webvan 2.0
No wonder analysts have been slashing forecasts. Monday’s trading update from the internet grocer — or Waitrose distribution arm as it is also known — reveals there has been no improvement in sales in the last quarter.
Some friendly advice from Goldman Sachs
Oswald Grübel — shrink your investment bank!
UBS’s investment bank produced outsized losses in 2008 and 2009; consequential perception of UBS’s riskiness substantially impacted its private banking business,
Goldman says let’s Twist again
Found.
Someone who thinks a change in the composition of the Federal Reserve’s balance sheet (a new Operation Twist) would be a good idea.
Guess who? (Obviously it’s not Bill Gross).
Give up?
OK then,
The clairvoyant Jim O’Neill
Full marks to Goldman’s Jim O’Neill who over the weekend called the SNB’s decision to set a direct policy target for the Swissy.
(Emphasis ours):
The Swiss authorities face a huge challenge. If they are serious about trying to prevent the devastating damage that could result from the Franc’s strength,
A return to asset purchases (in the UK)
We are a bit late to this, but here are selected highlights from Goldman Sachs prediction on Friday of further asset purchases by the Bank of England.
But this time Goldman economist Kevin Daly reckons there’s a good case for the BoE focusing on credit easing rather than the purchase of more gilts.
Fannie and Freddie’s revenge — the details [updated]
– By John McDermott and Cardiff Garcia
The details of the US government’s attempted bank raid are coming in on Friday afternoon.
The Federal Housing Finance Agency has filed 17 lawsuits against banks operating in the US.
Goldman’s doom-mongering eye-bleeding slide deck
On Thursday the Wall Street Journal reported on a doom-laden research note by Goldman Sachs strategist Alan Brazil sent on August 16 to hedge fund clients.
Unfortunately it didn’t share the report, but Zero Hedge has acquired a copy and it makes for interesting reading,