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Baidu Tumbles

Tyler Durden's picture




 

First RIM, and now Baidu. BIDU stock is plunging after hours, down over 14% at last check after the company announced revenues will be between 1.19 billion yuan ($174 million)
and 1.23 billion yuan. Consensus was 1.36 billion yuan. How a Chinese company, in the middle of the greatest bubble reincarnation, supported by an economy that is a reverse feedback loop, can miss, is shocking and is sure to put the recent tech rally in perspective. In the meantime, as a reminder of how collectivist groupthink is cultivated and encouraged by the mighty ones on 85 Broad, we have attached the most recent BIDU report from Goldman Sachs, which is still on the firm's Conviction Buy List.

 

 

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Mon, 10/26/2009 - 18:17 | 110963 system failure
system failure's picture

Sounds like a new name change may be in store for GS to call their conviction buy lists from here on out. It is possible to come up with the GRAND SUPER Conviction Buy List of Lists. Need we applaud. All together now......

Mon, 10/26/2009 - 18:51 | 110997 Cognitive Dissonance
Cognitive Dissonance's picture

Super duper dumbass conflicted list.

Mon, 10/26/2009 - 18:18 | 110965 deadhead
deadhead's picture

BAC is still on the CONviction buy list.

and, was reiterated.

 

 

Mon, 10/26/2009 - 18:20 | 110967 mule65
mule65's picture

Conviction Buy: You should be convicted if you're stupid enough to buy.

Mon, 10/26/2009 - 20:09 | 111069 SteveNYC
SteveNYC's picture

Superb! Just gave me my laughing medicine for the evening.

Mon, 10/26/2009 - 18:22 | 110968 Anonymous
Anonymous's picture

anyone want to start a GS conviction 3x short weighted ETF?

Mon, 10/26/2009 - 18:30 | 110978 system failure
system failure's picture

I want to be a GS Man when I grow up.....lol

Mon, 10/26/2009 - 18:56 | 111004 nopat
nopat's picture

...and so it begins.

Mon, 10/26/2009 - 19:01 | 111008 buzzsaw99
buzzsaw99's picture

If you listen to GS you are taking advice from Jim Cramer. Think about it.

Mon, 10/26/2009 - 19:01 | 111009 aswipe
aswipe's picture

I want to see more people on the GS convicted list.

Mon, 10/26/2009 - 19:04 | 111011 Lionhead
Lionhead's picture

Hey, they're the "smartest" guys on Wall Street, right?  Everybody says that; what happened Lloyd?  Say it isn't so...............

Mon, 10/26/2009 - 19:16 | 111021 Anonymous
Anonymous's picture

The stock has (had) a 20X revenue multiple. Are u kidding?

Mon, 10/26/2009 - 19:18 | 111022 Anonymous
Anonymous's picture

Reprogram the computers to buy BIDU tomorrow morning.

Mon, 10/26/2009 - 19:28 | 111030 Anonymous
Anonymous's picture

I think the GS conviction buy list is a great service. Saves hours of searching for stocks to short.

Mon, 10/26/2009 - 19:31 | 111033 anastos
anastos's picture

I had a friend who was interested in working for GS one time.  According to him, it was easier to get a job with the mafia or a drug cartel than it was to get a name of the local sitting principal, which he never got.

Mon, 10/26/2009 - 19:42 | 111041 Anonymous
Anonymous's picture

someone who bought on this report, however, would have made a lot of money. but, even after this plunge, the stock is still above the price at this report....

Mon, 10/26/2009 - 19:48 | 111047 RichardP
RichardP's picture

Amongst all the nonesense, and completely off-topic, a little brightness for those who care:

 

"And on October 26 2009 they will be filming their new video for there song of the GhostBusters new movie at Sherman Oaks Center For Enriched Studies in Tarzana California."

Last entry here:

http://en.wikipedia.org/wiki/Hoobastank

 

My eighth grader casually informs me as we drive away from the school this afternoon that the video was indeed shot today.  That impressed her less than the fact that they got to skip math class to pick up the confetti that was used in the shoot.  Upon further inquiry, I was informed that the band and the Ghostbusters folks were putting on a casual show outside at the school even as we were driving away.  As I suggested she might have told me in time for us to go see the show, she asked "what is Ghostbusters".  Plus, she got braces put on her teeth this morning, so she was more interested in getting home than in watching the guys.

 

Bottom line to all of this:  I didn't know they were planning to make Ghostbusters 3 until this afternoon.  A quick google shows that some uncertainty has been previously expressed about whether the movie is actually going to get made.  Given the events of this afternoon, it looks like they are pushing ahead.

 

 

Mon, 10/26/2009 - 20:03 | 111059 Anonymous
Anonymous's picture

Hold on a second, you're not being fair. The report is from Sep 11. BIDU Was around 360. it made it to 420 area twice. Don't tell me you didn't have an opportunity to sell for a nice 15% profit.

Mon, 10/26/2009 - 20:07 | 111063 Anonymous
Anonymous's picture

Somebody wasn't paying their party dues. So much for the incarnation of Communist Capitalism (and a Chinese middle-class).

Mon, 10/26/2009 - 20:08 | 111066 Careless Whisper
Careless Whisper's picture

Don't forget to read the GoldmanSquid fine print.


Our asset management area, our proprietary trading desks and investing businesses may make investment decisions that are inconsistent with the recommendations or views expressed in this research.

 

 

Mon, 10/26/2009 - 21:36 | 111170 Marge N Call
Marge N Call's picture

See what happens Larry? THIS is what happens when a fuck a stranger in the ass.

Mon, 10/26/2009 - 20:19 | 111075 Rollerball
Rollerball's picture

Someone hasn't been toting the party line.  So much for the incarnation of Red Kapitalism (and a Chinese middle-class).  

Where's Kissinger (Alf) when you need him?  Adieu Baidu!

Mon, 10/26/2009 - 20:56 | 111128 IdiotInvestor2
IdiotInvestor2's picture

This smart poster at the Yahoo board for AMZN thinks this is a great news.

http://tinyurl.com/yjtka8d

All BIDU longs will "come over" to AMZN now :-) I love reading Yahoo message boards once in a while.

Tue, 10/27/2009 - 00:22 | 111325 ZeroPower
ZeroPower's picture

Don't forget about the 'insiders' who like giving away all sensitive information a few days before their 10-Q ;)

Mon, 10/26/2009 - 21:12 | 111147 Anonymous
Anonymous's picture

The probable difference between Google and Baidu?

Revenue clicks on porn!

Mon, 10/26/2009 - 22:36 | 111223 Anonymous
Anonymous's picture

kinda reminiscent of the famous(or infamous) term"eyeball"

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