Goldman's European Clients Are Oblivious About Developments In Europe

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Sat, 10/01/2011 - 13:28 | 1729120 reload
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Perhaps GS have spoofed and fontrun all their savy clients just once too often.


Sat, 10/01/2011 - 13:28 | 1729122 GeneMarchbanks
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Good fuck'em. Serves them right for doing business with the Squid.

Sat, 10/01/2011 - 20:07 | 1729869 AldousHuxley
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After 2009, many smart rich elites took their money out into the smaller family offices. So those remaining with Goldman Sachs until now are the retards like Patricia Kluge whose only achievement in life was marry rich men. Still lost the $1B from divorcee settlements.


Capitalist meritocracy alright.


Why work, when a whore makes 1,000,000 times more than you sucking some wrinkled dck?

Sat, 10/01/2011 - 13:33 | 1729133 Hondo
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GS are a bunch of stupid fools. Is that why European markets are down 2X what US markets that their composure??

Sat, 10/01/2011 - 14:00 | 1729169 WestVillageIdiot
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Even with the rally of the Dax in the past two weeks, on the back of the Euro-TARP hopes it is still down nearly 30%.  That has to be felt.  I remember in 2008 thinking, "the rest of the world must hate us when they see their stock markets going down so much more than ours".  Then, in the end of 2008 and early 2009 our markets joined their markets in the utter destruction.  We caught up like Jessie Owens trying to chase down FDR. 

Something tells me we will catch European markets again. 

Ilook forward to heading to Europe in the next two weeks. I will get a chance to see how things are going.  Of course we went last spring to Spain when the talk was about how awful the Spanish economy was and never once saw it.  I am guessing we won't notice a thing.  I think it is hard for an outsider to realize what is really going on.  Except in early 2009 I think even an outsider would have been able to see the stresses on NYC. 

Interesting times, my friends.  Enjoy them.  It is all we have.  There is no reason to let it ruin your life.  Enjoy your weekend, everybody.  This shit will still be there on Monday morning, waiting for you. 

Sat, 10/01/2011 - 15:28 | 1729337 mjk0259
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Not many Europeans buy stocks and their retirement is generally government funded and not so dependent on the value of the savings as in the US. So they don't get too excited about the stock market going down.

Sat, 10/01/2011 - 21:14 | 1729945 dcb
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didn't hurt me at all, I bought my first eurostocks last week, and american financials it only hurts if you haven't been short and are just now starting to put in money, but I will saqy the charts (I advise using weekely) looks like a descending triangle going dow for a while.

Sat, 10/01/2011 - 14:01 | 1729170 RSloane
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Actually, the problem is no they are not. They are extremely clever, long-term planning, conniving, intelligent, and can produce ten successive men behind the curtain at their whim. These are some of the most manipulative persons that have joined in deliberated mayhem that you will ever encounter, not only now but throughout history. They are extremely powerful and have managed to extend their tentacles into almost every government in the world. We, collectively, are going to have to fight them. Its not going to be easy. I wish it were.

Sat, 10/01/2011 - 14:05 | 1729181 WestVillageIdiot
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True evil can look lazy even as it works feverishly in the dark.  Good call. 

Sat, 10/01/2011 - 13:38 | 1729135 LawsofPhysics
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Important question for everyone regarding the rest of the year.  If hedge funds are also parking some money in bonds (along with many of us who knew the twist was coming), when will these guys move out.  Will they reposition before the end of the year?  With no more safe havens, I know several other business owners who are going to cash, the literal paper form.  They are doing this now and or making some equipment purchases that will make their operations run more efficiently as margins are, well, what they are - ugly.  Seem to me like the next two months will really define if we are really following Japan.  Thoughts?

Sat, 10/01/2011 - 14:37 | 1729217 reload
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What you describe is going on here in the UK to an extent with small business owners - keep plenty of cash to hand (& not too much in the bank, or any one bank) and stock up on durable raw materials. Not too nuch cap ex visible, but since successive governments have reduced allowances thats understandable. Sales of new commercial vehicles are sclerotic, the desire to lease the latest model has been replaced by a desire to own ones fleet and be able to downsize it quickly as needed and without penalty.

The other small/medium business policy that is widespread now is -no pay basic increases for anybody. Periodic bonus payments for the deserving. This means that redundancy payments will be `cheaper` if they are neccessary as thay are calculated on basic pay. Anecdotal evidence is that a few businesses are tying to disperse good will to staff in ways that do not show up in their tax returns too easily as well.

The DAX - I read a preposterous theory today that it was only down so much because they had not YET banned shorting - that they soon would, and all would be well !!

Good luck to all next week - my gut says it could be a bears feast, but my head says be careful - goodness knows what lunatic ramp job could be unleashed.

Sat, 10/01/2011 - 14:32 | 1729225 Quinvarius
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There are two economies.  The real economy.  It s small and predictable.  Then there is the banker community economy which dwarfs the real economy by a factor of 100.  The banker economy is a giant, unpredictable, manipulated by everyone including politicians, hellhole.  Everything it does effects the real economy.

So good luck trying to figure anything out.  At any moment the banker fiasco could could expand or contract with severe results.  It is meaninless to even bother trying to make a prediction on the small real economy.  It is like trying to have a normal day while a murding rapist is hiding in your house somewhere.

Sat, 10/01/2011 - 13:46 | 1729147 achmachat
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a little warning up-front:

on Monday, Germania is closed.

Sat, 10/01/2011 - 14:02 | 1729174 RSloane
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I don't know what that means specifically.

Sat, 10/01/2011 - 14:03 | 1729178 achmachat
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major drop in volume for starters.

Sat, 10/01/2011 - 14:02 | 1729175 WestVillageIdiot
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God bless, Oktoberfest. 

Sat, 10/01/2011 - 13:59 | 1729164 stant
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fire up the printing press. the german one ,fuer frei mutter freken

Sat, 10/01/2011 - 14:04 | 1729179 WestVillageIdiot
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The ghost of Guetenberg roams the halls. 

Printing macht frei.

Sun, 10/02/2011 - 00:49 | 1729195 slewie the pi-rat
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Investors in both camps continue to wrestle with the types of stocks to own given high uncertainty and risks to growth.

oh my!  how exciting!

Sat, 10/01/2011 - 14:26 | 1729211 TK7936
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"America would have to bail out Europe once again like it did back in 2008"

Historical revisionism.....

Sat, 10/01/2011 - 15:20 | 1729314 Peter K
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Henry Elmer Barnes defined historical revisionism as : "Bringing history in accord with the facts". Just saying ;)

Sat, 10/01/2011 - 14:30 | 1729222 Troy Ounce
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Hey du, ja du mit den Frecken. Stelle dein Pferd um die Ecke und trink ein Whiskey mit mir.

Und let's get poor together overnight.

Sat, 10/01/2011 - 14:32 | 1729224 Unprepared
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Late 19th century Vienna? "This order, firm on its feet, would last for ever"

Sat, 10/01/2011 - 14:48 | 1729252 RSloane
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Wow, the German Finance Minister said Germany won't be giving any more money to the EU bail-out fund. This was said during an interview that was published today.

Sat, 10/01/2011 - 15:18 | 1729303 Absalon
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"One worrying takeaway is that European politicians seem less sensitive to swings in asset prices"


That might be a good thing for Europe.   The Greenspan/Bernanke put has created far more problems than it has solved.  The moral hazards that have been created are enormous. 


Ignoring the DOW and the S&P 500 and letting them find their own values would be much better than government attempts to manipulate the markets.

Sat, 10/01/2011 - 15:37 | 1729352 anonnn
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...Goldman should do a better job at distributing the report by its own Alan Brazil saying Europe is doomed...[but not the uber rich]

Sat, 10/01/2011 - 15:38 | 1729356 Peter K
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Actually, I'm not surprised that GS gives their Euroland clients "sterilized" data.  The EU has something called the Communications Ministry. The CM monitors all news flow inside the EU. For example, if for some reason a newspaper starts runnig an editorial line that the CM sees as negative to the EU, the newspaper will notice a decline in advertising revenue. It might even be contacted by Ministry personnel. You run across these stories in the British press every now and then. It can also explain whey ComedyNBC moved that nob Simon Hobbs over to NY. If you listen to him carefully, he always presents the "uber Europhile" version of what is happening in Euroland. Can't let those Yanks go off the reservation now can we? So back to the story, I am not surprised that a consumate insider firm like GS doesn't want to get on the wrong side of the EU. And what's a few clients when your business with a whole continant is at stake.

Sat, 10/01/2011 - 16:45 | 1729476 b_thunder
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Is the headline supposed to be a surprise?  Obviously the Goldman's "clients in UK and on the continent" have heard the now fasmous trader Alessio Rastani's "Goldman Sachs rules the world" interview.  Why would they be concerned?  They're on the team that tules the world!


Sat, 10/01/2011 - 19:36 | 1729835 Fíréan
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The headline by Zerohedge is Euro investor are oblivious yet the GS quote states that they are more composed.

Our meetings with clients in Europe and the US during the past two weeks showed investors in continental Europe to be more composed about the direction and pace of policy decisions. US and UK investors are far more anxious about potential policy solutions and the cumulative impact of a drawn out resolution."


there's a huge difference between oblivious and more composed.

this Zero Hedge is going down the toilet the way of MSM type headlines.

Sun, 10/02/2011 - 06:49 | 1730464 Peter K
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As a regular watcher of everything Eurolandian, I can attest that "more composed" is for all intents and purposes the official euphomism for obliviousness of the typical Eurolander as to the crisis in which they find themselves in.

Sat, 10/01/2011 - 20:05 | 1729866 bkrolik
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I think "more composed" in this context means "clearly understood coming collapse". Just look where DAX is relatively to the highs and comparing to SPX. Hysterical US investors are going to become more composed soon enough and we will have the same SPX performance.


Thu, 10/06/2011 - 08:51 | 1744899 Shizzmoney
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Of course Goldman Sachs knows how crappy things are; they created it! 

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