Goldman Sachs: "#$%& It, We'll Just Pretend December Never Happened!!"

[Portishead]

This is because they switched to a bank holding company , and therefore they switch the times that they report their quarterly earnings to what the BHCs do.

Very sneaky that they slap all the loses on the PREVIOUS quarterly earnings , making that quarter , which everyone knows was bad already WORSE, and thereby making their Q1 look even better relatively..  Combine that with the new M2M modifications and  WALA .... incredible earnings , "beating even the most optimistic"

laughable...

does anyone have access to their december earnings?  I'd like to see what they piled on to it...

Many people say that is the most valuable and telling piece of data out there, since it will reveal more than any public document their exposure / writedowns related to their estimated $30 Trillion CDS exposure (4th largest after Chase, BOA, and Citi)

[Portishead]

you know... if someone at my relative novice level can see this is whats going on...

how do the big investors piling their money into Citi , GS, and BOA not see this?

Obviously they do, so the question is... either a) why are they doing it anyway ?? (just riding the momentum??) or b) what do they know that we don't? (in GS case, I'm sure quite a bit...but what about the rest?)

[risquebznss]

http://www2.goldmansachs.com/our-firm/press/press-releases/current/pdfs/2009-q1-earnings.pdf

[risquebznss]

I'd think the 'smart' money is talking it up and using the opportunity to get out of GS.    Who knows, since GS is so intertwined in government, its tough to bet against them.   It's selling off today "due to dilution from IPO".   Wonder if many insiders have registered their shares to sell in the offering?

[Portishead]

thanks for the link......but can someone more familiar with crawling through financial reports help me out here??

Am I reading this right?  During the month ending Dec 2008, they lost over 1 Billion that is applicable to shareholders??

Is that just for the 1 month they had to add on to this statement?

[Portishead]

I'd think the 'smart' money is talking it up and using the opportunity to get out of GS.    Who knows, since GS is so intertwined in government, its tough to bet against them.   It's selling off today "due to dilution from IPO".   Wonder if many insiders have registered their shares to sell in the offering?

Oh yeah... GS runs deep throughout our government... Matt Taibli reported on that just yesterday (much of it I knew, but even a lot of the transition team for Obama are from GS)

You know they are going to come out of this O.K. in the end....How could they not?

[muletowntrooper]

It may be sinking in - GS down almost $12  (even though they are selling diluting shares to raise capital, this seems like some are getting out before EVERYONE realizes what is going on)

[muletowntrooper]

I'd think the 'smart' money is talking it up and using the opportunity to get out of GS.    Who knows, since GS is so intertwined in government, its tough to bet against them.   It's selling off today "due to dilution from IPO".   Wonder if many insiders have registered their shares to sell in the offering?

To hammer on mtlouie's points some more - "they" really are all in it together.  The catch is they have to find new ways to convince someone like me to invest in their company, but at a level that allows them to wipe me out, while they make money and start the process over again, dressed in a new costume.  Stop and think about it.  EVERY "financial" firm in our current system is a ponzi scheme.  If new money stops flowing in, the scheme falls apart.  That is why we have all the bail outs.  "They" have that much pull.  Hell, "they" are the ones actually pulling the strings to make the legislation happen.  Refer back to the original 4 page bail out bill, under Bush.  That document gave Paulson and now Geitner authority to do whatever they deem necessary.  They just have to be careful and make it LOOK like they aren't stealing the wealth future of a nation.

[risquebznss]

Wonder if the new GS shares will end up like Blackstone

http://finance.aol.com/quotes/the-blackstone-group-l-p/bx/nys/historical-prices?tf=y%2C3&gran=d