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Goldman Stolpered Out On Short GBPNOK, 2.2% Loss In 3 Weeks
Earlier today, in the very appropriate context of Greg Smith, we lamented the resent disappearance of everyone's favorite FX strategist, Thomas "9 out of 9" Stolper. Speak of the squid - here he is, this time advising clients they just got Stolpered out on short GBP/NOK with a 2.2% loss in 3 weeks.
On 22 February 2012 we recommended going short GBP versus the NOK, partly on the assumption that Norges Bank would have little room to cut rates after recent data showed very strong growth momentum and much less disinflation than feared.
Having already cut by 50bp at the end of last year, we did not expect any additional easing.
In the event, Norges Bank did cut rates and hence removed the underlying rationale of the recommendation.
We close our short GBP/NOK for a potential loss of 2.6%, including carry.
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Oops.
AS clearly stated by Greg Smith, they recommended the trad to suckers er. customers so that their trading desk could unwind their postion
Is Stopler part of the 89%??
my classmate's sister makes $82 hourly on the internet. She has been out of work for 10 months but last month her income was $17192 just working on the internet for a few hours. Read more on this site .... http://qr.net/h7eu
Missed it by >that< much.......again and again and again and again.
At least they are consistent.
http://www.youtube.com/watch?v=oPwrodxghrw
and the Muppets will keep buying...
True, there's a sucker born every day, but Goldman is going through suckers so fast they'll be targetting babies in a couple of months.
is Goldman stealin E-Trade clients?
Squids are only human.. right?
short term trading in currencies is hilarious to me
Yes, Rob Prechters Elliott Waves 'currency specialty service' is also equally hilarious
9 wrong out of 9, meet 9 wrong out of 10
Stolper is screwing over the client base so hard, he's surely in line for a promotion.
Luckely, the calls that Goldman bought for themselves traded up and made sure GS doesn't suffer from their clients mistakes.
Boy CNBC sure can't get enough of gold and silver being down.
have they changed the term gold-diggers to stock-stashers yet? or just using the time tested money-grubber?
Ringing the bell at the bottom like Quasimodo on Easter at the Vatican.
I suspect there are a lot of people who are terrified at the Treasury market collapse. A little paper raid probably makes them feel better. But, the endgame is gold well over 10k to stave off a systemic collapse...which appears to have begun in earnest.
How can this guy keep his job?
Ah, he is paid to do so.
mis-leading clients: a specialty at Goldman Sucks
(just ask the Libyan Wealth Fund)
And Apple is up around 12% since ZH's "iDisappointing" post
And.... it's GONE. ...
http://www.youtube.com/watch?v=RAKsMnAM8vk
don't blow your customers up
hookers/terrorists/inflationists/ManwiththeGoldenGun/lol
Time for another client "field trip", to the SouthPark planetarium!
"..we lamented the resent disappearance of everyone's favorite FX strategist, Thomas "9 out of 9" Stolper."
Chucklefest :))
..at least i now know i'm not (quite) the worst FX trader.. phew!
Hey Slewie you might want to start looking at eur/chf now. Carry $'s are moving into the chf just like the yen.
March 14, 2012, 11:41 a.m. EDT
Krone tumbles on Norway rate cut, Central bank cites strong currency. The currency tumbled after Norges Bank cut its key policy rate by a quarter of a percentage point, to 1.5%http://www.marketwatch.com/story/krone-tumbles-on-surprise-norway-rate-cut-2012-03-14?link=MW_latest_news
How does Stolper still have a job at Goldman, or anywhere else for that matter?
Mind you, he makes a lot of money for ZH'ers who know all about him, but still...
Got NOK?
More of that exceptional service.
Where can i find this Stolper guy's advices?
this is humiliation!
This is why Fed should ease further.
http://www.cnhedge.com/thread-3032-1-1.html
http://www.jinrongbaike.com/