Goldman's Jim O'Neill Goes Bear Hunting

Tyler Durden's picture

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rmsuleman's picture

Where is the chart that he mentions?

knukles's picture

Confidential-Not for public distribution.

Smithovsky's picture


I stopped reading after "From Goldman Sachs' Jim O'Neill"

oldman's picture


If you had read further you would have surely vomitted at this pompous bull shit:

"I just returned from a rather insane 24-hour trip to Hong Kong early Saturday, having previously planned to be in the China region for a week. I had to change my earlier plans in view of the European mayhem, but I had committed to a speech at the Hong Kong University of Science and Technology (HKUST) for the Institute for Advanced Study’s US Rusal Forum. It was a pleasure and, in addition to meeting two very important clients in town, I met with a number of interesting people. Coincidentally, before I went, I had hosted our latest internal GSAM “CIO call” on China, where we included an outside guest who appears to have the lowest GDP number on the street for the next 2-3 quarters. We also have started to see the latest monthly economic data released and, of course, the RMB is back in focus."

I just wanted to see the charts, but was reading my way down until this came up----this guy needs a hard kick in the ass

and i am non-violent        om

Bartanist's picture

One wonders if he will ever look back on his life and realize that he was simply a parasite living off of the productive work of others and never really contributed anything of value EVER in his life. But that is not the point, eh? Those who create the money revel in the fact that they produce nothing and use fiat money debt to enslave others to work for them.

... yet, not something I'd put on my resume when facing my maker.

Divided States of America's picture

Its funny, so I guess we will never have a depressionary economic environment again, let alone the small '8 month' recession we 'experienced' in 2008 per govt sources. Oh, and we just entered a bear market 2 weeks ago for 2 hours and that's been taken care of so now we can go back to a another new bull market again....I guess everything is all good again, we have a solution for every friggin monetary mistake we have done for the past 80 years!

Dick Fitz's picture

Sorry, but ONeill is sorta right on this one. The boom from FED money printing is already showing up in the data, and will lead to a (small, short term) boom in the market. Once they pull the punchbowl away again the collapse will be bigger.

ISEEIT's picture

And the bears ignore this! It's like being drugged against your will (absent consent).


Go on with your bad leftist self and explain this away.


Yeah the cash is sloshing around and will (maybe) get obummer reelected. It will then be free to fullfill its mandate.

Dick Fitz's picture


It kills me- I know in the long run for the US/EU/Ch are fucked. But, as long as The Bernanke keeps printing money, and flushing the system, things will "get better" on the surface. The cancer is still there, but the injection makes the patient feel better and they rally- all the while, the cancer grows and gets more deadly.

Mises was right- the crack up boom will be epic, but it can be delayed for a LONG time.

A Man without Qualities's picture

"Perhaps this can be a permanent solution, given its success to date compared to all other past failed ones. Don’t actually tell anyone what the plan is?"


Ha, Ha, yes, very funny joke that.  Trouble is, this might just be the case.  They do have a plan in a vague sort of, "must fix this" kind of way, but there is no way they can agree the specifics, so it must remain a hidden promise.

"Is that a bazooka in your pocket or are you just pleased to see me?"

GeneMarchbanks's picture

They have a plan like Paulson had a plan in 2008.

GeneMarchbanks's picture

That wasn't 'hahaha' funny but almost. Complete joke.

winter is coming's picture

Wheres Reggie...I want to join him on his squid hunt

Hedgetard55's picture

The trillion dollar question is does the EZ have the resources to handle the debt problem without printing?

A Man without Qualities's picture

Simple answer - no.  The French understand this, maybe the German politicians do, but they don't want to scare the voters.  The bigger issue is how to you fairly allocate the printed money across a monetary union, with distinct welfare systems and fiscal policies?

knukles's picture

Jim says; Now let's look at this Macro Consideration. 
"Is the Wolrd Coming to an End?" 
Now, looking at the motes of dust, floating tea leaves, carrying out all calcultions to the last decimal, reciting the rhymes of the business as if they were truisms, extrapolating past succcesses with unfortunate differences, expousing popular delusions and finally regaleing us with the minutae of the rose in the vase on the starched white linen table cloth just off center of the table in the most fabulous resturant in the world, let us put our hands on the Bloomberg and Pray....

Your problem is a failure of investment process.
Listen to me. 
I'm trying to help.
The paradigm has shifted. 
It's not a string of bad luck or bad PR.
It's not the fucking same.
Quit pretending that it is.

Pretorian's picture

I thought IRISH are drunk on Sundays, last day before work! So he might telling the truth.

Bruin4's picture

what a motherfucker.

TheLooza's picture

oh fuck i hate this guy

msmith's picture
An analysis of the SPX, CL, DX, EURUSD, and AUDJPY shows a potential reversal to a risk off tone in the short term.
ISEEIT's picture

I'm not a fan of technical/charts. I do pay attention to them however because for whatever reason patterns do have occasional predictive value. 4 hour EUR/USD is screaming double top and considering the algo/HFT role, I feel just fine being short the whole game.

oldman's picture

Yeah, and the daily is showing a little point of resistance, but after that 1.43 looks like a shoo-in

who do you believe these days---I don't know what to make of it all     om

Seasmoke's picture

he doesnt sound as boastful and confident this time around

I am Jobe's picture

Squid feeling left out . All good things must come to an end. Waiting for the mofo;s to live in trailers.

MsCreant's picture

If you mean FEMA trailers, well, okay. Otherwise perfectly deserving citizens could have those trailers, I would not want to displace a human being for a squid.

Miles Kendig's picture

I'm thinking second hand SeaLand van trailers en masse out at Great Basin National Park, Groom Lake or Bonneville salt flats.  Open topped with walkways for the guards and dogs with a shit hole in the corner.  For work they can all be sent out to rake sand and arrange rocks into pretty designs NASA can take pictures of from space

Miles Kendig's picture

....ranging from Berlusconi’s tentative hold of power in Italy to the divergence of stances on the right broad...

So, looks like Goldman has decided to not only mention the bunga-bunga pedophiliacs led by Silvio the scum bucket, but the "wide-stance" crowd led by Larry Craig and any number of Eurocrats who are locked in stalls shitting their pants

Well done Goldman!

Jay Gould Esq.'s picture

"...the 'wide-stance' crowd led by Larry Craig..."

Miles, this post made my afternoon. Frigging hillarious.


Caviar Emptor's picture

He's purely talkin' his book, the WS book: More Fed free cash will blow another bubble somewhere, but more importantly, it's at the expense and to the detriment of the real economy which sees no trickle down but suffers when the bubbles burst. We've just completed a 30 year experiment in just this kind of economics and the results are in: we are worse off now than before . The economics are unsustainable because the middle class lost way too much wealth and is getting pummeled.The action moved overseas. 

buzzsaw99's picture

Thye can't even defend their own stock.

Zero Govt's picture

...yes but will Lloyd Blankfein be able to defend his Bonus this year???

..he managed it (pocketing $100m) having bankrupted the firm, sold fraudulent mortgages around the globe, fleeced clients (Libyan Fund lost 98%) and none of the 'talent' he's hired can make even $1 Dollar trading unless they've rigged the market 

..Lloyd is absolute garbage of a CEO by any measure.. so will Gods Work, dripping in bucket loads of red ink, continue to pay out by divine blessing?!!!

SheepDog-One's picture

Jim is a cheerleader loser calling 'perma-rally', just wash rinse repeat in a range from here on out.

chump666's picture

We are coming for you Goldman, millions of accounts small, some large will short sell you into oblivion.

And no bailouts this time, you just f*cking take the pain

mossme89's picture

What the heck? futures are up 2.5+ on the S&P 500. I give up, apparently all the world's issues are solved

slaughterer's picture

Looks like EUR/USD is hell-bent on that 1.40 pivot despite the cloddish disappointment of the G-20 idiocracy this weekend.    

chump666's picture

watch for messy profit taking end mth, hopefully a chaos event makes it even more messy.  Long to short should happen very quickly.

Market hasn't reallly priced in how bad Italy is going to be i.e riots, bond/CDS spreads.  Attention should flip from Greece to Italy now.

Europe is going to erupt coming winter

oogs66's picture

Long the market, short humanity

huggy_in_london's picture

o'neill ... the abby joseph cohen of this decade...

Nasdaq still going to 5000 again AJC?  

knukles's picture

How true.
Interesting that at just about each and every Broker Affiliated Asset Manager with few exceptions, the asset management group parroted the brokerage's party line.
In many cases, to their demise.


Hub.  Ris.
You get what you deserve,
Kar. ma. is a bitch,
Cold the best way served.

oogs66's picture

"to their demise"?

LOL    he still flies everywhere he wants, whenever he wants and gets paid boatloads of money on top of what he already has....being wrong yes!  investors demise, maybe!  his demise, LMAO!

beanieville's picture

It's all over, bears.  And we're buying Goldman Sachs!

rocker's picture

 You can buy all the bank stocks you want. I have my G.T.C. open orders in for GS @49.90 and JPM @18.90 and C @9.90.

I think the second time may be the charm since all of these have been lower. And I may lower the orders if I don't like what I see.

Especially Citigroup and Goldman. I will never buy any bank stocks until they go back down and test their prior lows when this all started.

Nothing has been fixed. Just manipulated. The phony book values are ripe with fraudulent accounting. 

Until they mark to market the crap on their books and what the FED is holding in CDS or MBS securities it is all fake.

The banks are not investment opportunites. They are ponzi scams worse than what Bernie Madoff every did.

This time the FED is assisting the crooks. I do not think it will end well for any suckers. Sure they may go up on short covering.

But that is not a viable investment theme. Short Covering is not a reason to put risk money on. 

Still 100% Cash. Patience will win. Who knows what trigger may set the next move up or down.

I would rather watch since to date everything is 100% manipulation by the HFTs. 

The last trades I made in my Cash account were sells of mining stocks in March and April of this year.

Turns out that it was very smart since all of them are down 40% on average.

Until I see the S&P return to 1000 or less I won't even look or consider buying anything. Let the HFTs beat up somebody else.

Patience will win in the long run. At least that is what the Smart Money says and are doing. 

100% Cash for opportunities that will come,

the misanthrope's picture

Is that why you shoot them? there are hardly any left?

knukles's picture

Lady goes to the butcher, sees there's a sale on brains.
3 on special: lawyer (cheapest) doctor (more pricey) Bond Trader (costs more than gold).
She asks why the bond trader brains so expensive?
Butcher tells he that lawyers are a dime a dozen, doctors are truly special but not necessarily that smart but Bond Traders?!?!?
Who's ever heard of a Bond Trader with Brains?

Zero Govt's picture

Jim O'Neil, Goldman Sucks: "...the US and China have coped perfectly well with Japan’s weakness for a long period, so I don’t see why they can’t cope with a struggling Europe."


Fantastic World economy this isn't it? Fit as a fiddle...

But when one of the leading financial firms (vandals) of America effectively describes the Worlds powers as a bunch of pissed old farts leaning on each other to prop themselves up long enough to get down the road !!!!

...and the 'real sharp cookie' of this financial firm describes this bunch of staggering, meandering collection of pissheads as 'ok' enough to accept another rat-arsed drunkard to their lurching fold you just know these alcoholics need an emergency ambulance to AA (or the Funny Farm)

Don't wait the siren boys, i'm not sure it'll even sound... the alarm bells are ringing full blast in my head already... man the life rafts and lets get outta here... the ships crew are all about as sane as fruit cakes!!!