Goldman Sachs, up $7 per share in morning trading! On pure speculation about its earnings report, which will be issued tomorrow! One way the Times describes the GS share price is that it is up 68% this year. Well. I prefer to think of it as "down $100 a share from two years ago." In any event, we will find out tomorrow just how rich they currently feel. The rumor-speculation is: very rich indeed. Also this morning, Goldman Sachs issued an enthusiastic "buy" endorsement of JP Morgan... and Discover? Goldman's reasoning?
Consumer delinquencies have decelerated in 2Q including card, home equity and nonprime mortgages. A notable exception is prime jumbo mortgages where problems have accelerated... TARP repayment and FDIC expense plus debt spread write-downs should subtract one-third of pre-provision earnings in 2Q.Ha, yes, so lesser banks are going to take have taken a hit in the second quarter because they have to pay back that pesky TARP money they were FORCED to take from our government... except Goldman Sachs, which done paid it back without blinking.
I must get all my investment advice from TheStockProphet because all my stocks are only worth pennies.
Nothing ever surprises me anymore, really -- but under no circumstances would this have done it.
I mean: these people didn't invent the cigar smoke in the back room... they invented the back room itself.
Here's an endorsement for actually buying Taibbi's latest Rolling Stone thing on Goldman. It. Is. Incredible. Also: a great piece on Ticketmaster and a crushingly honest bio on Gregg Allman, a guy whose being still alive at 60 despite all the alcohol and drug consumption is reason for any boozer to be optimistic.
Is it wrong that I only barely understand this stuff? I start reading some of the articles and I think my brain starts cutting off its own supply of oxygen
They just crushed their earnings number, but not by enough, expect a small pull back this morning when the stock opens