Did Goldman Just Do It Again?

Tyler Durden's picture

For anyone who managed to avoid Goldman's "can't miss" recommendation and get short the EURUSD two weeks ago ahead of the ECB's stunning disappointment which sent the pair soaring and crushing virtually every macro hedge fund and FX trader, Goldman's Asset Management group has another recommendation just for you.

In case the fine print is a little too small, here it is in normal font:

High Yield & Bank Loans: We have increased our overweight in high yield.


  • High yield returned -1.53% over the week, with spreads widening by 23bps, driven by underperformance in energy-related markets. Bank loans returned -0.27% and European high yield returned -0.58%.
  • High yield funds experienced $398mn in inflows over the week, while loan funds saw $387mn in outflows.
  • High yield primary market activity increased over the week, with eight deals pricing for $4.1bn. Bank loan new issue volumes fell, with nine deals pricing for $2.3bn.


Here is one simple explanation of what Goldman suggests you do:

Here is another: buy everything that Goldman has to sell. Confused: see Abacus.

h/t @insidegame

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BadKiTTy's picture

These guys would sell bags of cancer to their mothers! 


knukles's picture

Where the fuck's the SEC.  Used to be big ass fines for Appearances of Conflicts of Interest.

SoilMyselfRotten's picture

Yep BadKitty, just so they could make money off the treatment

Fish Gone Bad's picture

They couldn't just inflict it on people, so they are trolling it now. How sad.

HowdyDoody's picture

Wall Street's Theme Tune.


It should be played on all radio stations this Christmas.


JRobby's picture

Translation: Goldman piling into CDS' on high yield

Who is on the other side of that ass fucked trade?



NotApplicable's picture

Who else?

Well, maybe Corzine, if he's gotten enough of OPM by now.

doctor10's picture

Congress is supposed to provide regulatory oversight.  Unfortunately, the number of Congressional representatives (435)  has basically remained the same since the mid-1890's, while egency growth has been exponential.


Consequently, GS, and every other entity which supposedly is Federally regulated, basically either buys the regulators or gives them jobs after their federal stint, or has bought the cxongrescritters supposedly providing oversight.


Original congressional apportionment was one congresscritter:30000 Americans.  Today that would mean 10000 Congresscritters, meeting electronically from their districts, wy beyod the physical reach of the K st Lobby which supervises the trading of regulatory oversight and favor.

It really would take that many Congressional representatives  to apply sufficient Constitutional oversight and supervision to the rogue federal agencies opressing Americans today.

NotApplicable's picture

Funny, I still think the Fed could create enough cash for Wall St. to buy them all off.

JRobby's picture

"Congress is supposed to provide regulatory oversight"

Laugh Track Deafening


Congress, fully attended for a change, sits transfixed as Insane Clown Posse performs all their hits.

madcows's picture

They were working overtime trying to catch martha stewart. 

Besides, they bought congress, so the laws don't apply to them. 

And, theyve got all their employees working inside the SEC.

The only way to win is not to play the game.

slaughterer's picture

Nothing wrong with Junk if GS is buying it.  Even the Icahn thesis on HYG ETF is wrong. 

BandGap's picture

"just the tip, I promise"

ThroxxOfVron's picture

Dragged down into the dark pool by tentacles...

Rainman's picture

Just when we thought the NAR might be the only ho workin the block ... the Squid says :

        There's never been a better time to buy junk !


ajax's picture



"“We believe that Goldman Sachs, under Federal Reserve supervision, will be regarded as an even more secure institution with an exceptionally clean balance sheet and a greater diversity of funding sources,” Lloyd C. Blankfein, the chairman and chief executive of Goldman, said in a statement on Sunday night."

That was in September 2008 when Brooklyn Lloyd had to turn his casino into a bank holding company in order to stave off bankruptcy. Brooklyn Lloyd sure knows how to spin a used condom floating in the East River into a tasty gefilte fish sold on Wall Street.

Hasn't he been diagnosed with colon cancer yet? Or some inoperable brain tumour? Or? What's taking so long?

wisebastard's picture

then they would hi-jack the US government and use them to force their mom to buy overpriced health insurerance to pay for treatment that would fuck them up worse then when they went in with cancer. it would gain tons of attentino and most the people would think everything was cool with the exception of a small portion of society that the banks would then spend millions of dollars to gangstalk harass and torture to shut up and be made examples out of so no one else would consider getting out of line and standing up to the sadistic pedophiles who work for the banks....................god bless america

assistedliving's picture

pure evil...and the devil himself will be back in a few

Satan's picture

Easy now...Goldman Sachers are even unpopular down here...have to keep them separate from the other lodgers...

ajax's picture



The American Dream is dead.

Not for Martin Shkreli, not for Lloyd Blankfein. The American Dream is alive and well in Brooklyn: You want to live in a country run by these creeps?!! You want to live in a country where your paid sick leave depends on what Zuckerberg thinks about it?


Poooor old America


THE COIN's picture

evil...devil. I saw what you did there. You're saying Goldmales are harmful to your health.

ShrNfr's picture

That's not a knife thing to do to their clients.

Uchtdorf's picture

What's the point of these posts?

ajax's picture



What's the point Uchtdorf? It's called making new friends and having fun on the internet. Here's some music too:


"Ford Presents: The Creative Performer" - and it went out on American television, not cable, not pay per view...for The Fucking Public. If you want a copy for yourself now, good luck. Scour the Net yourself. It ain't even for sale in the USA.

You know who adored Glenn Gould? The late Marc Rich, The King of Oil

consider me gone's picture

Thanks. That was awesome. I really think that Bach is going to hit the big time one day.

db51's picture

Wait....not so fast....these fuckers probably are right.

ajax's picture


"Wait....not so fast....these fuckers probably are right."

Of course they're right. They're always on the right side of the trade - you're the fucking sucker. Read the fine print backwards in a mirror. 

Cautiously Pessimistic's picture

Good ol' Goldman Suchs ... doing God's work as usual.  Same as it ever was.


Inaguration of the Goldilocks algo Fuckyou- Fuckme machine trader.

NEOSERF's picture

I was TOTALLY feeling like a market maker was artificially propping up the market today no doubt at the behest of the Fed so they can just do this one and done rate hike...hard to do it with another 700 pt down week heading into Xmas.

nmewn's picture

"I got me ah hawt tip from dem dare high financial type fellars, here hold maw beer. Watch this!!!"

medium giraffe's picture

Another day, another shitty deal.

THE COIN's picture

Thank you Sir ! May i have another.

RadioFlyer's picture
RadioFlyer (not verified) THE COIN Dec 14, 2015 1:52 PM


JenkinsLane's picture

The ghost of Stolper past. 

undercover brother's picture

Goldman is a prime example of why Glass-Steagall not only needs to be reinstated, but updated to include modern market participants such as hedge funds.  Goldman operates primarily as a hedgefund with an investment bank and brokerage as subsidiaries. It's should be obvious to all how this relationship can be abused.   

NotApplicable's picture

If people are stupid enough to fall for this crap, no amount of laws can make the least bit of difference.

Nor are they needed, as stupid should hurt.

ajax's picture



@ undercover brother

"A simple kind of firm..." Oh yeah Lloyd!


Blankfein is capable of saying absolutely ANYTHING. ANYTHING. Listening to him for more than a few minutes is absolutely impossible without going full throttle "postal". Blankfein is capable of driving you fucking insane. Most people from Brooklyn are capable of the same and Wall Street street is full of them.

Poor old America.  


ajax's picture



Further to Blankfein's comments: "We're really just an investment bank and an asset management firm..."

Oh really Lloyd? How about this?


Consuelo's picture

The Merchant(s) of Venice...