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Goldman Sets New Speed Record In FaceBooking Clients
First thing this morning we warned our readers that we smelt a rat. The reason: at roughly 12:30 am Eastern this morning, or just before the European open, Goldman's Francesco Garzarelli sent out a note trying to spin the Spanish bailout as favorable. More importantly, they told their few remaining clients to go long Spanish 3 Year bonds. We said:
"Confirming that one should get the hell out of Dodge, is the fact that Goldman now is telling its clients to, wait for it, buy Spanish bonds:
"Short-dated Spanish Government Bonds Offer Value.... Even though the statistics for public debt will increase by about 10% of GDP, the funding program of the Spanish government will not be affected and the loan will come at much more advantageous terms for the public sector than current market rates. The combination of these two factors should reduce pressure on the Spanish sovereign. All else equal, yields should decline, particularly at the front-end of the curve. On Friday, the 3-year benchmark bonds closed at around 480bp over Germany. We could see a rally towards a 400bp spread during the volatile period while more news on the transaction becomes available."
Yes, we have seen this one so many, many times before: if Goldman is telling its clients to buy, it means Goldman is.... fill in the blank.
That's right, selling. Long story short, as the chart below shows, we probably have a new world-record in the short amount of time it took Goldman clients to get totally Facebooked by following the firm's advice to buy 3 Year Spanish Bonds. Note the yield on the short-paper below.
Luckily for its shareholders, at least Goldman's "flow" desk was busily selling and satisfying client demand for this paper, even if it only lasted for a an hour or so before the pukefest started.
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Moral of the story:
http://www.youtube.com/watch?v=cKUvKE3bQlY
They're doing God's work
Thanks Lloyd BlankBerg
Goldman still has clients?
They wouldn't also happen to be members of the Fukushima Tanning Club would they?
OPM
GS means...buy THEIRS.
This must be the infamous "ripping clients face off" in action. The Miami Zombie would be proud.
do the opposite of retail
ride the coat tail of market makers
or goldman insiders
buy the rumor, sell the news.
Muppets!
yep, the public pension funds the taxpayer will end up bailing out in a year or so; Goldman just marks the losses to them
When you open Goldman account, you get a "Sold to me!" t-shirt and hat.
Which God?
Is Corzine working for Goldman now, or is it his understudy making these calls?
"facebooked" hehe thats even better than "corzined", but not quite as nasty as you still have some monies left.
Thanks for that link, i sent it to a friend who's going through a mid life crisis... :-)
Muppeteering.
of course.....no one here is really so naive as to think that their clients are none other than the banks and soverign funds are they?
Where is Lloyd Blankfein? Where where where is he scheming up these diabolical client f--ks? And WHYWHYWHY is anyone still their client?
The vampire squid hypnotizes its prey.
"Ass-end" muppets...
http://www.youtube.com/watch?v=I-E0zWznXY0
I bet they would own up to having herpes before they would admit being a GS client these days.
You didn't expect them to do a Corzine and hold this garbage all the way down to its true value, did you?
Let me guess....another profitable trading day at GS.
Sheesh.
GS clowns were recommending going long WTI when it was at $104 a few weeks ago.
good for GS. if you're an institutional client still taking their advice, you deserve to have your face ripped off
you can make millions by plucking nickles from small fishes, what about the whales?
"If your an institutional client" if you are a client by this point your probably a state or local government pension fund manager and you probably couldn't care less about losses so long as Goldie promises to come through with your position at the firm once you leave the state.
Like CA Governor Jerry Brown's sister, Kathleen Brown, former CA State Treasurer, and now with The Squid?
"She currently serves as head of public finance for the Midwest region for Goldman Sachs, after taking positions as president of private banking for Bank of America from 1995 to 2000 and as head of public sector and infrastructure investment for Goldman Sachs from 2001 to 2010.[2] Staying in California for public sector banking would have likely posed a potential conflict of interest."
https://en.wikipedia.org/wiki/Kathleen_Brown
Love the part about "potential conflict of interest". She and Jerry must get a real laugh out of that one at the family dinners.
And that bullet train Jerry wants so badly. Who's going to underwrite the bonds? GS? Hahahahahaha. Fuck CA.
Hickory, dickory, dock,
The mouse ran up the clock.
The clock struck one,
The mouse ran down,
Hickory, dickory, dock
Goldmans obviously so desperate to get a ramp in to sell-on their greed/fear now surpasses their care for their tattered reputation
...we're near the end of this junk criminal bank, you can see the sweat
Here's another smelly from the Squid.....dumping the hedge fund admin on a prospective greater fool.
http://www.bloomberg.com/news/2012-06-11/goldman-sachs-may-sell-a-hedge-fund-division-to-state-street.html#
Squidtastic!!!
We automatically assume that GS was on the other side of the trade. But what if they are simply morons?
How many perfect or near-perfect trading quarters has the squid posted in the last few years? Assuming they're on the other side of the trade is a very safe call.
Yep...they had one...ONE...losing day in the 1st quarter. ALL of Jan, Feb, and March. No..really....the market isn't rigged...no ...really.
if Goldman is telling its clients to buy, it means Goldman is....
BWAHAHAHA..
What good are bridges if you don't burn them? Smells like end game to me.
My calculator tells me even if Spain was given a -3% (minus) loan it would still be fucked. Is it broken? Naa.
As long as they don't talk bout gold it's fine with me
As long as they don't talk bout buying gold it's fine with me
Fixed
Facebooked. Nice.
Just a nice way of saying Face-Fucked.
or saving the face, once ripped off, in a large book of some sort, like a pressed flower or a scalp.
Let's pretend for a moment that it's true that GS deliberately tells its clients to do one thing, while its prop desk is going to do the opposite to take advantage of the muppets who follow their advice.
I find that really great news - it means that if GS consistently advises the opposite of what is really the best action to take, then all I have to do is make sure I know what they are telling people to do, then do the opposite myself.
What a great deal!! I don't care how I have to manipulate the advice to get rich, just so long as I understand what I need to do to get rich.
OK, shorted WTI, shorted Spanish bonds . . . what's their next bit of advice . . .??
-30-
Google "Goldman Sachs", then hit the "News" link on the left side of the page.
Your welcome.
From one story: "Only two out of seven Goldman's trading recommendations are currently making a profit."
70% success rate ain't too shabby! Not sure what the average loss is on those recommendations.
Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2012/06/11/bloomberg_articlesM5FYJG6S972801-M5GIN.DTL#ixzz1xXQ5kvlMValue Investing -- buying something ealry that only goes down
Tim Crook should add a GS app to the new iPhone called iSquid.
Great spin from Goldman.
Last year around this time Goldman made Patriot Coal their number one pick at around $22 saying it was going to $27. Yup.
That means Peabody Energy (SBU) is in trouble, as GS just upgraded them a week or two ago.
Seriously, Goldman still has clients? The reason I ask is because I thought that all the gullible money was already stolen.
My take on Spain:
Still long on "Spandex" (It holds alot and keeps on expanding)
At some GS clients will figure out like Castanza that doing the opposite works!
note to self, great work by not listening to GS1
"I could not help myself. It is my nature." said the Scorpion to the Frog
You guys are jumping to the conclusion that Goldman is being manipulative - I'm sure it's just good natured incompetence.
Seriously, I asked this question before here - how the fuck do they keep the muppets they got? For being the supposed smartest-most-nimble-traders-with-Ivy-league-degrees-the-world-has-ever-seen, they fucking suck.
http://vegasxau.blogspot.com
What? Are people still "investing" in this "market"? Idiots.
I just have one comment to make:
HAHAHAHAHAHAAHAHAHAHAHA HAHAAHHAAHHAAHAHAHAHAHAHA
I got faced booked today and all I got was a headache and this stupid t-shirt
And they never get sued for this, time and time again. And college graduates still want to work for this pig.
You can't sue them ... you'd just be directed to the SEC (like they care more about you than Thainee.com ) ... The best you can do if you're a big fish is to let them steal a little of your money every now and then so you continue to get their phone calls and then you do the opposite of what they're recomending.
Why would anyone do business with these guys? My libertarian beliefs are tested by the charlitans at GS.
Institutional behavior like this, coupled with the ignorance and greed of retail investors, reinforces the limitations of free markets to police themselves.
Statler: I like the steel Drums!
Waldorf: What?!?
Statler: THE PIGS' STEEL DRUMS!!!
Waldorf: I believe it! They'll take anything that isn't bolted down!
In Lord Blankfein We Trust
all i gotta say is if they need this as part of their business model,
the other parts of that model must suck.
OFF TOPIC: Like many, I watch the minute to minute action in the PMs. As I post this, (note the time), I have to laugh. The FED and their lackey's are sooooooo freaking pathetic.
GOOD LUCK ON CONTINUED SUPRESSION! lmfao
Did I say buy?? OOps I ment SELL!!!!
facebooked, or having your face gnawed off by the squid, on PCP?
Beware, nothing is as it seems...There is something going on in the neighborhood!
http://www.youtube.com/watch?v=PH79jOCQc6Q
Hang 'em all.
Corzined, Facebooked, *insert next*; in half the time and with twice the bravado we will find out who next has Madoff with another bunch of other peoples cash. Roll up, place your bets.
FraudBook. Arrest them.
Keep doing this, the squid is going to suck its own eco system dry.
SEC's Shapiro says "Lloyd, bubbela, such nice work you've done here!"
Good luck with that!
Facebooked . Corzined, Cramered, Bankiaed
Forgot, spidey-toweled
And I thought only Ben could print money...
They are facilitating the purchase of - mearly an intermediary and all for a very reasonable fee.