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Goldman Stolpers Clients Again, This Time With Short Bond Call
Goldman does it again. Whereas the exploits of one Tom Stolper are well known, and frankly much expected by the general community due to his infallible advice and 100% inverse track record, we did not realize just how pervasive his M.O. was within the broader firm. Now we do. As a reminder, on Monday Goldman came out with a recommendation to sell the 10 Year. "We are now of the view that a break to the upside, to 2.25-2.50%, is likely and recommend going tactically short. Using Mar-12 futures contracts, which closed on Friday at 130-08, we would aim for a target of 126-00 and stops on a close above 132-00."" This naturally generated a healthy dose of skepticism by Zero Hedge: " As a reminder, don't do what Goldman says, do what it does, especially when one looks the firm's Top 6 trades for 2012, of which 5 are losing money, and 2 have been stopped out less than a month into the year." Sure enough, anyone who did the opposite, i.e. buying the 10 year, has now returned +1.48% in three days. Goldman: always working for the client.
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OUCH
I grow weary of all this Goldman "advisory" issuance, whose timing ( for Goldman ), is nothing less than superb...for the "clientele ?" Not so much. These chaps are little more than modern-day, Brooks Brothers-clad, dandy highwaymen.
Simply had to post this golden oldie, from '81...
http://youtu.be/4B2a6l6wM2k
By the Living God, that's style.
+ 100
Thaz gold there man.
Lower long-term interest rates ahead.
Goldman Sachs, the name says it all. They get the gold, and you get the paper promises.
Word of advice, don't trust anything Goldman says, ever!
http://ericsprott.blogspot.com/
President Barack Obama vowed during Tuesday's SOTU to establish a new F U (Financial Unit) dedicated to investigating and prosecuting where-O-where-ever "large-scale" financial fraud might be ffound
http://blogs.ocweekly.com/navelgazing/Elmer-Fudd_small.jpg
Financial elites reacted vehemently . . . and by the end Obama was defending the bonuses paid out to JPMorgan Chase CEO Ja-me-me-me-me Dimon and Goldman Sachs CEO Elmer blankety-blankFudd, praising both as "savvy scallywags"
We all knew they were doing the opposite. Wonder if anyone is dumb enough to fall for this anymore.
I think all of Washington D.C. is dumb enough to fall for Goldman Sux's investment advice.
None of us would follow Goldman's advice, but how about the dummies running your state teachers' pension system or how about other mid level private businesses that have some recent grad in HR running the investment decisions for 500-5000 employees. GS is ripping off lots of people here and we should do our best to spread that word.
President Obama vowed during Tuesday's SOTU to establish a new F U [Financial Unit] dedicated to investigating and prosecuting "large-scale" financial funnies, as might even be ffound around maybe furrin FED Funds and other such blankety-blankFudds as everywhere number among our true whacky attackers of untold trillions
http://i281.photobucket.com/albums/kk224/SSG101/101st/elmer37thIwaqieblkwhite.jpg
Financial funnies reacted accordingly, and by the end B O was defending the bonuses paid out to JPMorgan Chase CEO Ja-me-me-me-me Dimon and Goldman Sachs CEO Elmer blankety-blankFudd himself, praising both as "wascally weasels"
Tuesday night saw the POTUS with something of a-wild-hare-up-his-ass http://i83.photobucket.com/albums/j288/CritterCreek/ElmerFuddHunnieBunnie/ElmerFudd.jpg vowing during an unusual Quack Session's SOTU to establish a new Quack Season F U [Financial Unit] not to be confused with any other existing statute created only for the usual easy prey, but instead dedicated to indeed Looking, Looking, Everywhere, for what Obama called his Elmer blankety-blankFudd Hunting of just who/and just where oh-where in The blanketyFed "large-scale" Financial Fraud might felonious funnies be ffound
http://www.alexross.com/CJ011.jpg
http://www.site5.com/blog/images/elmer_fudd.gif
caricature, having given way to a kartoon kultur which has given away trillions, has today now found goldman ceo Elmer blankety-blankFudd joining ffarces with Omama in his new F U (Financial Unit), where even from the cheep seats could he be heard declaring This Is War
http://rlv.zcache.com/elmer_fudd_viking_poster-r2c22e1f9a3a04028b460191b91cf1663_gw2_400.jpg
Kill The Wobbers! KILL THE WOBBERS!!
excellent
classic.
that's why they call it the "Stalk Exchange"...
HYPERINFLATION WILL DRIVE GOLD TO UNTHINKABLE HEIGHTS
We now live in a world where governments print worthless pieces of paper to buy other worthless pieces of paper that combined with worthless derivatives, finance assets whose values are totally dependent on all these worthless debt instruments. Thus most of these assets are also worth-less.
So the world financial system is a house of cards where each instrument’s false value is artificially supported by another instrument’s false value. The fuse of the world financial market time bomb has been lit. There is no longer a question of IF it will happen but only WHEN and HOW. The world lives in blissful ignorance of this. Stockmarkets remain strong and investors worldwide have piled into government bonds in a perceived flight to safety. Due to a century of money creation (and in particular since the 1970s) by governments and by the fractal banking system, investors believe that stocks, bonds and property can only go up. Understanding risk and sound investment principles has not been necessary in these casino markets with guaranteed payouts for anyone who plays the game. Maximum leverage and derivatives have in the last 10-15 years driven markets to unfathomable risk levels, with massive rewards for the participants.
More:
http://www.mmnews.de/index.php/english-news/7063-hyperinflation-will-drive-gold-to-unthinkable-heights
Watching the tape on the Titanic.
... but life boats are for bankers, so it's all good.
I really don't understand how they hold on to assets, let alone grow them.
I'm no fan of the squid but they may yet be proven correct on this call. Gold is spiking because the Fed has no option but to print (inflationary). Bonds generally underperform during inflation. Could be a knee jerk reaction in Treasuries today. IMHO
LoL!
I took notes!
MY MAIN MAN
Poor Thomas Stolper is the skapegoat: he has to give this advices because the prop desk of GS will give him the kick back, that he can afford his winter holiday in Aspen or probably even in St. Moritz, preferably in the Suvretta.
Dig deepter. This is propaganda. Good clients get different info from the press releases. Goldman owns the Fed and the gov't. To propose shorting the 10Y just before a Fed meeting is pure theater.
Well that lasted all of two days. Like I said who are these kids and what grade are they in?
Available at at all Walgreen's, CVS Pharmacy Stores: The New SQUID Prophylatic! For that unplanned moment when you are going to be Stolped...in all sizes, from small to GARGANTUAN. Perfect for those occasions that separate your money from your wallet or pocketbook. Brought to you from GS. "We Cover the Earth".