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Goldman FX Desk Back To Its Old Value-Destructive Ways After Stop Out In Latest FX Reco In Just Two Weeks

Tyler Durden's picture




 

It is good to see that Thomas Stolper has not lost his value destroying touch. In just the latest iteration of the company's FX team costing clients oodles of money (and making lots of money for its prop traders), we remind readers that on June 19, a full two weeks ago, Goldman advised clients to "Go long AUD/JPY for a target of 90 with a stop at 84." Our jaded Goldman translator kicked in and provided the following interpretation of Stolper's words: "As of tonight Goldman is advising clients that its prop desk has a lot of AUDJPY to sell up until 90, and will buy everything below 84, in other words Thomas Stolper says to go tactically long the AUDJPY until 90, with an 84 stop. Of course, this makes all the sense in the world if China is slowing down." Well, it seems that Goldman is now done offloading it AUDJPY exposure. As for any remaining Goldman clients who bought into the recommendation: Sorry. As of yesterday, AUDJPY traded below 84 on at least two occasions, droppoing as low as sub 83.10, thereby stopping everyone out. 

 

 

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Wed, 07/13/2011 - 09:03 | 1451234 66Sexy
66Sexy's picture

Goldman reminds me of a kid i knew in high school.

He would sneak money out of your wallet, and raid your refrigerator when you werent looking. All while pretending to be your friend.

 He was a hell of a shop lifter too; right in front of the checker, stuffing lighters and cigarettes and beef jerky in his pants with the precision and 'lack of hesitancy' of a skilled thief.

Wed, 07/13/2011 - 09:05 | 1451243 snowball777
snowball777's picture

But unlike Goldman's "clients" (host organisms may be more apropos), you didn't keep inviting the dipshit back into your home.

Wed, 07/13/2011 - 09:49 | 1451361 randfan
randfan's picture

i think you and i must have known the same kid...i think his name was lloyd blankenstein or something like that...wonder whatever happened to him.

Wed, 07/13/2011 - 11:07 | 1451811 Bananamerican
Bananamerican's picture

with "advisors" like Goldman, who needs corporate espionage?

Wed, 07/13/2011 - 09:02 | 1451237 Lady Heather...UNCLE
Lady Heather...UNCLE's picture

...do those GS fucktards have any clients left?

Wed, 07/13/2011 - 09:08 | 1451249 cosmictrainwreck
cosmictrainwreck's picture

lots, I'd wager

Wed, 07/13/2011 - 09:21 | 1451288 wandstrasse
wandstrasse's picture

I would really like to get to know somebody, who trades according to GS advice. This species is obviously capable of reading and doing trading operations with less brains than a protozoon... a scientific sensation.

Wed, 07/13/2011 - 10:19 | 1451486 Urban Redneck
Urban Redneck's picture

blindly, or via application of game theory?

Wed, 07/13/2011 - 10:59 | 1451740 wandstrasse
wandstrasse's picture

I would need a specimen to answer that.

Wed, 07/13/2011 - 13:57 | 1452772 Zeilschip
Zeilschip's picture

They still are the biggest trader in the Street. So what the salesperson tells the client is: "We are seeing a lot of trading action. If you don't give me 2 million in revenues, I will give you zero color. So what's it going to be?" Very hard for a client to say no to this.

Wed, 07/13/2011 - 09:04 | 1451241 monopoly
monopoly's picture

Silver feisty today. Maybe back on the main track?

Wed, 07/13/2011 - 09:08 | 1451252 66Sexy
66Sexy's picture

yup. first time lasix and ears perked UP

Wed, 07/13/2011 - 09:24 | 1451299 wandstrasse
wandstrasse's picture

I bought a few more silver eagles yesterday... because it was so silent about silver, and this is the time to buy I was teached...

Wed, 07/13/2011 - 09:06 | 1451246 firstdivision
firstdivision's picture

I'll do what Goldman's prop desk does before I would listen to their client advisement group.

Wed, 07/13/2011 - 09:15 | 1451269 PaperBear
PaperBear's picture

silver is definitely getting it on today.

Wed, 07/13/2011 - 09:20 | 1451285 The Count
The Count's picture

 

GS should be shut down right away. Nothing but a crack house for unsuspecting traders.

Wed, 07/13/2011 - 09:22 | 1451295 scratch_and_sniff
scratch_and_sniff's picture

Close but no cigar, they should really consider positioning updates, its very unprofessional to let those kind of gains turn into losers. Maybe they got bigger fish to fry.

Wed, 07/13/2011 - 10:13 | 1451454 GFORCE
GFORCE's picture

If Stolper "owned a funeral parlor no-one would die!"

Wed, 07/13/2011 - 11:24 | 1451916 fxpert
fxpert's picture

GS and their retard analysts can go fuck themselves, no self-respecting trader would listen to these idiots. 

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