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Baidu Tumbles
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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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......
Super duper dumbass conflicted list.
BAC is still on the CONviction buy list.
and, was reiterated.
Conviction Buy: You should be convicted if you're stupid enough to buy.
Superb! Just gave me my laughing medicine for the evening.
anyone want to start a GS conviction 3x short weighted ETF?
I want to be a GS Man when I grow up.....lol
...and so it begins.
If you listen to GS you are taking advice from Jim Cramer. Think about it.
I want to see more people on the GS convicted list.
Hey, they're the "smartest" guys on Wall Street, right? Everybody says that; what happened Lloyd? Say it isn't so...............
The stock has (had) a 20X revenue multiple. Are u kidding?
Reprogram the computers to buy BIDU tomorrow morning.
I think the GS conviction buy list is a great service. Saves hours of searching for stocks to short.
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.
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....
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.
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.
Somebody wasn't paying their party dues. So much for the incarnation of Communist Capitalism (and a Chinese middle-class).
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.
See what happens Larry? THIS is what happens when a fuck a stranger in the ass.
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!
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.
Don't forget about the 'insiders' who like giving away all sensitive information a few days before their 10-Q ;)
The probable difference between Google and Baidu?
Revenue clicks on porn!
kinda reminiscent of the famous(or infamous) term"eyeball"