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Goldman Shutting Global Alpha
As predicted last night when ZH said: "Goldman Global Alpha just blew up, for the second and probably last time", and as was glaringly obvious, sure enough the WSJ confirms:
- Goldman Sachs Closing Global Alpha Fund By End Of Oct
- Goldman Hedge Fund To Shut Dn Due To Redemptions
- Goldman's Global Alpha Fund Had Approximately $1B In
And so the quant unwind begins. The question now is: who is next.
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Corpse resurfacing to commence shortly...
As for who's next, it'll be a steady stream.
Sound of Pac-Man Killed
Brilliant.
I'm probably next.
My guess is they will get TARP money or solar greenshoots cash.
bullish for bathtubs?
And sidewalk/street cleaners?
So, they unwind short positions, then?
How long will Ben succesfully keep suckering people into the market? How long before it ultimately crashes?
One tentacle sliced off...only 7 more until the beast is slayed
Taibbi had it wrong -- not a squid but more like Hydra, two heads grow to replace each one cut off. or maybe that's the entire banking system, as it has evolved. Hercules slew it eventually, torching each stump so it couldn't grow, but even he had help.
Try 70. Better to go for the head.
wait, i thought it was a squid. wouldn't that leave nine?
Off-topic, sorry. RIM is down 15% AH.
"Unexpectedly" missed target.
Nobody's eating playbooks, that for sure.
I think Steve Jobs expected it back in 2005.
"unwind"? Of what sort of positions? Or is it already pretty much done by the time it's in the press?
Rocket science fails once again: 2007 (Quant fund meltdown), 2006 (Amaranth), 1998 (LTCM)
Where's that guy named Not Applicable? Amazing how an entire branch of math is simply not applicable to finance? Amazes me how they rush ahead with these delicate physics theories only to crash an entire global funding system. So much for "tinkering".
Is that partial explanation for th short covering today?
Excellent prediction Tyler! Now can you tell us at what date B of A will implode and at what date Geitner will be canned? Both are a waste here on earth!
As a general rule, . a cadaver in the water starts to sink as soon as the air in its lungs is replaced with water. Once submerged, the body stays underwater until the bacteria in the gut and chest cavity produce enough gas—methane, hydrogen sulfide, and carbon dioxide—to float it to the surface like a balloon.
Earth being 70% water.........
ps. does gold float?
I still dont see a story. I did see the headline come across CNBC. Links?
Who is next....Everyone.
The powers that rule choose to kill off hedge funds to save the system. But then these same powers thought they could increase fuel prices to extend consumption wrong on both counts.
All hedge funds burn in the next year... or most.
Powers have dictated that they will brun 5 years ago but i diden't believe them at the time they would sacrifice the funds... Now well . Its looking less stupid and more crazy every day.
Good luck.
snark: This is old news. Didn't CNBC close down the seeking alpha thing yesterday afternoon?
I was able to get the normal price for my coke and hoe at the general store today.
Get your hos and coke now before your rent goes up. :)
Do they sell penny candy at your general store or just the hos and coke?
>Goldman Sachs Closing Global Alpha Fund
They might as well since there is no longer any such thing as Alpha. Look for the new and improved Global Beta Fund.
Goldman Sachs Global Bernanke Put Fund.
RIMM going off the cliff in AH on earnings and GS appears to be halted after a massive dump on that news.
oh well.....
RIMM massively overperformed the NASDAQ during the last month (~27% vs 5%). They can fall another 22% for what I care.
I have no position in it. I was watching because I considered buying some puts today ahead of earnings but I didn't do it.
Would have been nice.
As a proud Canadian, I have both. Puts (NOV 2011) and call (JAN 2013). I hope our technological flagship won't go Nortel...
I hope our technological flagship won't go Nortel...
dude, that's not gravy in the poutine
I cannot for the life of me understand why that was the case. Mother of all short squeezes? Stay the f away from this POS
Edit: Reggie fill us in on your take here, and maybe throw in a little shameless self promotion for good measure...We love u all the same : )
In other news....Goldman Sachs plans to open two new quant fund by the end of the year, "Global Alpha Duece:With A Vengeance" and "Global Alpha:Resurrection"
So long quant geeks.
... and nothing of any value was lost. We can only hope that more of these quant and HFT funds will eventually fall on their own swords.
Da, squid!!!
the funny thing is that it doesn't matter. just like th noble winner who blew up LTCM, and a few other funds, as long a they generate fees, they will have a job in the industry
G.D.! Both TD and BK got a couple of nice feathers for their caps this month!
Now, if we can only get over the EOW ASAP bias we can move on to feathering our collective nests.
Nice to see the devil himself get it in the arse every now and then. Keep on keepin on TD!
ummmm....I'm seeing GS 'unch' after hours.
Must be one of those slow burning fuses.
Global We Will Take Your Money And You Will Smile About It Because We Are Goldman Sachs And We Have Been Doing This for Over One Hundred Years Fund
So who is next? This is a media site. I mean the only four letter word on Wall Street is "risk." Everything else can be said. Indeed I think at this point it's safe to say "everything else has been said." That's why I know this.
Bullish for rehab clinics.
It's all coming apart and they are finally seeing the final destination of the Western or most of the global economy, depression. And this depression will last for at least 2 decades if not longer in some parts of the world.
More proof that at this stage of the game, no one knows what is going on.......
I think Goldman knew what was going on, but he suffered from 2 much self confidence that can screw SNB 100 more time and then Jim O'neill can laugh on cnbc and play smart, the thing was that SNB called on ECB to bring joint action that was even 2 much for FED to help Goldman and other predators in bringing UP the CHF so they can destroy more European banks sine most of the lending was done in CHF so FED can continue borrowing chippy money as save haven and destroy world financial system by pumping inflation outside US.
Gokurasama deshita.
Nihongo ni, "Liquidity Risk" wa nan desu ka?
After SNB intervention previous week I wrote that Goldma Margin call is close. The fuckers couldnt stand up 1000 pips move in eur/chf at lest we now know what there leverage was, they fuked the SNB with it for 2 years. Other corps from this deadly SNB with joint ECB move will come up in due time.
Goldman Sachs Global Beta