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Goldman's Muppet Slaying Resumes, Removes Momo Darling Chipotle From "Conviction Buy" List

Tyler Durden's picture


Following the release of ugly earnings, Chipotle has finally been reacquainted with reality (down 18%), and the stock that has long been a darling of momo "investors" everywhere, because in a reflexive broken market, a stock is worth not a penny less than what the previous biggest fool is willing to pay for it, is getting decimated. Naturally, adding insult to muppet monkeyhammering, here is Goldman Sachs who decide to, after the fact, drop CMG from its conviction buy list.

CMG is down 20% from yesterday's close...



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Fri, 07/20/2012 - 09:25 | 2635626 GetZeeGold
GetZeeGold's picture



Nominated for best title.....EVER!!!


Fri, 07/20/2012 - 09:27 | 2635642 slaughterer
slaughterer's picture

Next in the sector to be muppet slayed: BWLD.  Get your shorts on.

Fri, 07/20/2012 - 09:31 | 2635657 Jay Gould Esq.
Jay Gould Esq.'s picture

Tyler, CMG certainly qualifies for another "roach motel" roster of major holders.

In the Top Ten: State Street; BlackRock; and of course, "Retail's" Wrong Way Corrigan of momentum stocks, Fidelity.

Fri, 07/20/2012 - 10:36 | 2636029 WestVillageIdiot
WestVillageIdiot's picture

This was certainly one that you knew was coming.  The problem, as always, is timing.  Just think how many little kids didn't get that Gi Joe with the Kung Fu grip because daddy was shorting this stock too early.  Instead they got a hand-me-down Barbie doll from their big sister Briana. 

You just had to look around to see what was going on with Chipotle.  I use southern Manhattan as an example.  I believe their first location was the Maiden Lane locaiton.  ON a Friday it would be packed at 6 p.m.  Two years later the line was shorter than the average American attention span.  Locations started popping up all over the place.  I think they have multiple spots on Broadway.  I believe they had another one on the east side.  And quality started going down. 

The writing was on the wall.  How could a burrito joint have a market cap of $15 billion?  That's as insane as a yoga store being valued at $10 billion.  All of the darlings go, sooner or later.  I'm looking at you, Netflix and Green Mountain.   It's just a matter of how many testicles you still have dangling when they finally meet their true "value".  Now I better go get my Crox on so I can do some shopping on 

Fri, 07/20/2012 - 10:41 | 2636049 Pladizow
Pladizow's picture

Wheres that idiot ROBOTRADER who just yesterday was posting the virtues of CMG, now down 24%!

Fri, 07/20/2012 - 09:35 | 2635666 Dr Benway
Dr Benway's picture


Fri, 07/20/2012 - 09:41 | 2635728 GetZeeGold
GetZeeGold's picture



Much better.


Fri, 07/20/2012 - 10:15 | 2635928 LongSoupLine
LongSoupLine's picture


Just wait 'till AlgoMart...errr, I mean Walmart, gets the red hot anal iron momo beatdown.

Fri, 07/20/2012 - 09:25 | 2635628 Id fight Gandhi
Id fight Gandhi's picture

About time. Crashing in pre market.

Fri, 07/20/2012 - 10:19 | 2635946 spanish inquisition
spanish inquisition's picture

Took a while to get the prop desk positioned.

Fri, 07/20/2012 - 10:44 | 2636071 WestVillageIdiot
WestVillageIdiot's picture

Has anybody seen Robo?  I hope he's not doing his David Carradine impersonation.

Fri, 07/20/2012 - 09:27 | 2635632 slaughterer
slaughterer's picture

With the spike in corn prices, CMG margins just went negative. 

Fri, 07/20/2012 - 09:38 | 2635711 adr
adr's picture

I'm just waiting for the ChiChi's moment where a few people die after eating tainted food. Some people probably already have. My old girlfriend got violently ill after eating a burrito bowl. I haven't eaten at Chipotle for years. Nearly every one by me is staffed by mexicans that look like they just jumped the border.

Do you really want a burrito made by a guy that just took a shit and wiped it with his hand, and of course didn't wash?

Fri, 07/20/2012 - 09:44 | 2635738 GetZeeGold
GetZeeGold's picture



Does it come with free fried ice cream?



Fri, 07/20/2012 - 10:45 | 2636077 WestVillageIdiot
WestVillageIdiot's picture

Throw in some t-shirts for the kids, and a Corona Light, and I'm there.

Fri, 07/20/2012 - 09:46 | 2635761 Clueless Economist
Clueless Economist's picture

Jim Cramer is not worried about Dirty Mexicans making him ill or dead. 

Just a few days ago he said CMG was a huge buy, because the Chipolte in Short Hills NJ near his home was packed with lines out the door.

He says that the dozens of minimum wage jobs were spurring the economy into a huge recovery.


Fri, 07/20/2012 - 10:07 | 2635882 Carl Spackler
Carl Spackler's picture

Only in NJ, I guess, do people not tire of being fed over-prices pink slime in their fast food.

Fri, 07/20/2012 - 10:46 | 2636082 WestVillageIdiot
WestVillageIdiot's picture

Short Hills, NJ - There has never been a more wretched hive of scum and villainy.

Fri, 07/20/2012 - 11:07 | 2636180 asteroids
asteroids's picture

I used to work in the area 20 years ago and had lunch there all the time. But, seriously, with 50million people of food stamps it was kind of of obvious that this pig of a stock was waiting to implode.

Fri, 07/20/2012 - 10:20 | 2635952 LongSoupLine
LongSoupLine's picture

yeah right, because Short Hills, (not to be confused with Short Bus) as a residential meca for Wall Street trash, is a great national indicator for a retail operation.

Fuck you Cramer, you ball sack with a neck.

Fri, 07/20/2012 - 10:47 | 2636084 WestVillageIdiot
WestVillageIdiot's picture

I think most of the CNBC twats live in Short Hills.  No-fucking-thank you.

Fri, 07/20/2012 - 09:47 | 2635767 otto skorzeny
otto skorzeny's picture

I love taint food- and the "meat" @ Chip is not fit to feed a manged mutt

Fri, 07/20/2012 - 14:27 | 2637106 ZeroAvatar
ZeroAvatar's picture

Wow!  A true 'taint liker'!

Fri, 07/20/2012 - 10:25 | 2635980 sunnydays
sunnydays's picture

I love Chipotle. The food is excellent and it is all non hormone meats, dairy and cheeses. They buy local and they are a quality company. It is not junk food. I eat at one often.

Fri, 07/20/2012 - 10:46 | 2636081 adr
adr's picture

Only the pork is hormone free. The dairy and cheese is only hormone free in some locations. Chipotle can't guarantee all of its suppliers give them hormone free products. You need to read the small print, it says they use organic products where available.

They buy local if you count a certain vicinity to the corporate headquarters. Chipolte is junk food just as much as any fast food restaurant. They have been able to brainwash people into believing they are somehow different. Jim Cramer having orgasms talking about the company didn't help.

Oh yeah, the brown beans are not vegetarian. They have pork drippings in them. I loved seeing vegetarians ordering a bean and rice bowl, then cluing them into that fact. They ask the people behind the counter, and they say, "Yeah the brown beans aren't vegetarian, black ones are."

Fri, 07/20/2012 - 10:44 | 2636061 otto skorzeny
otto skorzeny's picture

 something about the way they slop the refried beans on with that big flat spoon reminds me of the chow line in jail.

Fri, 07/20/2012 - 11:17 | 2636217 Enceladus
Enceladus's picture

Martha is that u?

Fri, 07/20/2012 - 15:01 | 2637270 madridisburning
madridisburning's picture

nothing gets the green around here like the racism card. pathetic.

Fri, 07/20/2012 - 09:29 | 2635650 mick_richfield
mick_richfield's picture

How many deliberately false "Conviction Buys" does it take,

before they have bought themselves a conviction?

Fri, 07/20/2012 - 10:12 | 2635912 Taterboy
Taterboy's picture

Goldman Conviction Buy List now called, Oops Never Mind List.

Fri, 07/20/2012 - 14:18 | 2637067 Disenchanted
Disenchanted's picture



I'm waiting for the Goldman Conviction the legal news section.

Fri, 07/20/2012 - 09:29 | 2635653 azzhatter
azzhatter's picture

Another big Cramer buy buy buy bites the dust

Fri, 07/20/2012 - 09:40 | 2635725 Dan Conway
Dan Conway's picture

Wait until CRM crashes!

Fri, 07/20/2012 - 09:29 | 2635655 buzzsaw99
buzzsaw99's picture

you fucked up, you trusted us [/otter]

Fri, 07/20/2012 - 09:31 | 2635671 Al Huxley
Al Huxley's picture

Wow, a day fucking late on that one, weren't they!  Funny - 'downgraded to Neutral'.  We feel that a 20% drop pre-market may hinder prospects for capital appreciation in the short term, but still think the company has a future longer-term, at least until Americans run out of money to buy food with'.

Fri, 07/20/2012 - 09:32 | 2635675 Richard Head
Richard Head's picture

That idiotic fake trader Robo is gonna have to find a new stock to pump.

Fri, 07/20/2012 - 09:35 | 2635690 GetZeeGold
GetZeeGold's picture



Just close your eyes and point.


GOT ONE!!!!!


Fri, 07/20/2012 - 09:41 | 2635732 the not so migh...
the not so mighty maximiza's picture

He will push the Cheeburger Cheeburgeer IPO, 5 pound burgers is Robos favorite.

Fri, 07/20/2012 - 10:47 | 2636089 adr
adr's picture

Cheeburger is going public? Really?

Add another one to the stock scam list.

Fri, 07/20/2012 - 13:02 | 2636701 the not so migh...
the not so mighty maximiza's picture

naa i made that shit up


Fri, 07/20/2012 - 09:45 | 2635759 tmosley
tmosley's picture

Yeah, he must have sold it before it went down.


Fri, 07/20/2012 - 10:29 | 2635992 viahj
viahj's picture

knowing RT, he loaded his shorts

Fri, 07/20/2012 - 14:32 | 2637128 ZeroAvatar
ZeroAvatar's picture

Cue the 'tarder:  " Oh yeah I loaded up on Kayak just before the IPO and made a bazillion".  (In my imaginary pretend Investopedia account)

Fri, 07/20/2012 - 09:32 | 2635678 adr
adr's picture

I just saw the awesomeness on the ticker. Chipotle just hit a Fuckerberg, the captain doesn't think there is any damage.

Still the stock is at least 70% overvalued, so it has a lot further to fall.

Fri, 07/20/2012 - 09:32 | 2635679 the not so migh...
the not so mighty maximiza's picture

Turn on taco algo machines STAT!!!

Fri, 07/20/2012 - 09:34 | 2635684 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Goldmn Sachs the Muppet Slayer

Fri, 07/20/2012 - 09:34 | 2635686 firstdivision
firstdivision's picture

That means Goldman is not buying as much CMG as possible.

Fri, 07/20/2012 - 09:43 | 2635745 Dan Conway
Dan Conway's picture

Goldman insiders propbably sold their CMG in the last month when one of their "birdies" told them sales were slowing down. 

Fri, 07/20/2012 - 09:35 | 2635689 localpacific
localpacific's picture

Short Term Technical Analysis at least chipotle tastes good ..

Fri, 07/20/2012 - 09:38 | 2635701 Yen Cross
Yen Cross's picture

 The Squid has had it's fill of cheap burritoes ?

Fri, 07/20/2012 - 09:42 | 2635736 Sutton
Sutton's picture

Buy YUM(1 dollar burritoes) and sell CMG(9 dollar burrtitoes).

Both have the same grisly  ingredients, don't kid yourself.

Except CMG does have less morbidly obese Azteccy looking girls at the counter.

Fri, 07/20/2012 - 09:51 | 2635786 Dan Conway
Dan Conway's picture

I was at a chipotle a few weeks ago and was shocked to see so many obese and soon to be morbidly obese patrons.  I am not a thin man but I felt like I would have no problem winning a spontaneous 40 yard dash in that crowd.  Why do parents take their teenage daughters to a place like this anyway?  $9 for flavored rice wrapped in a steamed (not fresh) tortilla - a very disappointing meal! 

Fri, 07/20/2012 - 10:07 | 2635850 SmackDaddy
SmackDaddy's picture

Everybody finds what they are looking for.  Last time I was in a Chipotle I couldnt help but notice all the fine looking teen pussy. 

I know I'm a pervert.  But the question for you is why are you staring at the fat people?

Fri, 07/20/2012 - 10:40 | 2636043 mick_richfield
mick_richfield's picture


Everybody finds what they are looking for

Ah, that explains a few things.

Last time I was in one of those places, long past closing time, I followed a flickering nacreous light into the dank basement where I glimpsed several dozen fish-men chanting:

"Cthulhu, n'ryleah a'f'tagh!"

At the time I thought nothing of it....


Fri, 07/20/2012 - 09:41 | 2635737 adr
adr's picture

As much as I love seeing the drop, just like Nike CMG will probably make up 75% of the decline next week.

Today the stock is trading on fundamentals. Next week the stock will be traded by the bots again, used as a abg holder for transfering funds.

Fri, 07/20/2012 - 09:42 | 2635742 Squid Vicious
Squid Vicious's picture

Sure hope Momotarder got out b4 the carnage?

Fri, 07/20/2012 - 09:52 | 2635798 ceilidh_trail
ceilidh_trail's picture

Get out? What are you talking about? THE STOCK IS ON SALE!!! Robo&Cramer say BUYBUYBUY!!!!

Fri, 07/20/2012 - 09:57 | 2635813 Squid Vicious
Squid Vicious's picture

lol - when it gets to 275, Goldman will downgrade from neutral to SELL...

Fri, 07/20/2012 - 09:49 | 2635776 monopoly
monopoly's picture

What a treacherous market. And you want to put your hard earned dollars into the American markets to "invest". Hate to say it, but confetti looks good, at the moment. And of course physical. That never needs comment.

Fri, 07/20/2012 - 09:52 | 2635797 monopoly
monopoly's picture

I guarantee the most worthless company on the planet, otherwise called a Squid sold its entire position in CMG yesterday. I have no proof, I do not have any facts, but I just know it to be true. Scum of the earth. And none of them have been indicted for what they wrought on this planet. Move on Comrades, move on.

Fri, 07/20/2012 - 09:58 | 2635819 oddjob
oddjob's picture

This stock was just another P.O.S. that RobotTrader pumped ad nauseum.

Fri, 07/20/2012 - 09:58 | 2635821 mendolover
mendolover's picture

That restaurant sucks anyway.  Tried it twice and sucked both times.  It's like eating shitty food inside a storage container.


Fri, 07/20/2012 - 10:00 | 2635827 Elmer Fudd
Elmer Fudd's picture

But those who have been watching stocks a long time should already know research departments always downgrade after the fact. Always have, always will.

Fri, 07/20/2012 - 10:04 | 2635866 azzhatter
azzhatter's picture

Cramer has pumped this stock relentlessly for 2 years. What a fucktard this clown is.

Fri, 07/20/2012 - 10:11 | 2635908 babylon15
babylon15's picture

Chipotle is still up 200% over the last two years while the S&P 500 is only up 25%.  Looks to me like Cramer got this one right.

Fri, 07/20/2012 - 10:35 | 2636023 CCanuck
CCanuck's picture

Even a blind squirrel finds a nut once in a while.

 How many times he falls outta the tree before he does, is the real question.

Fri, 07/20/2012 - 10:47 | 2636074 MarsInScorpio
MarsInScorpio's picture

Babyloon15, I'm giving you a +100 just for having the guts to point out the reality the hate-festers are denying. Maybe it will help you psychologically as the hater-festers relentlessly take their anger out on you with one down arrow after another.


I've noticed - speaking of ramping up at the end of the week - that the hate and anger goes up significantly beginning Friday, and peaks on Sunday night.


The answer is simple: There are a lot of mentally frustrated ZHers. May I suggest Testosterone Replacement Therapy, along with a daily 5 mg dose of Cialis to restore yourself to what you were when you were in your teens. I'm sixty years old and I get love at least twice a day weekdays, and at least four times a day on weekends - this stuff works.


Maybe that outlet will take you away from your computer screen long enough that you'll have time to realize that the truth is you've got a pretty good life (speaking of the ZH population in general; your specific situation may vary).


So line up some physical attraction now before you sound so angry and depressing that the only way you can get love is to buy it.


But I guess it could be argued that we always have to buy it - wifey wants this, wifey wants that, and if wifey don't get what wifey wants, nether do you . . .


Fri, 07/20/2012 - 11:43 | 2636281 Central Bankster
Central Bankster's picture

Wow, you come off badly. Let me break your stereotyping. Im 29, in good shape, mostly happy, get laid, oh.... And I owned 370 and 330 cmg puts until 15 mins ago that i bought wednesday. A lot of them. Im leaving the office in an hour to up to my buddy's cabin and go chase around some tail on the sandbar. Oh btw goldman sachs are a bunch of cocksuckers and ZHers are right to be pissed about market manipulation. So piss off if you dont like zh, I love this shit ;).

Fri, 07/20/2012 - 13:46 | 2636909 Blankenstein
Blankenstein's picture

Bzzzt... wrong.   I have to down arrow anyone who would give props to a douche like Cramer.  I am angry, but about the lack of firings and prosecutions after the tax payer bailout. Seeing regular people get screwed over by these vermin is very maddening.  And I also do not fall into the demographics that take Cialis.  (btw wouldn't that be sexually frustrated if you're recommending TRT)


Don't forget these Cramer gems:

Fri, 07/20/2012 - 14:44 | 2637160 ZeroAvatar
ZeroAvatar's picture

I bought his book 'Mad Money' new, 3 or 4 years ago.  The ONLY good advice was  "NEVER own AIRLINE stocks". The rest?  Filler.

Fri, 07/20/2012 - 10:06 | 2635877 Village Smithy
Village Smithy's picture

Maybe the fact that these banksters can't even make money in the markets that they control is a sign that they've pushed their heads so far into the trough they're starting to gag.

Fri, 07/20/2012 - 10:21 | 2635957 SmackDaddy
SmackDaddy's picture

Motherfuckers hatin' on Chipotle's food must eat goood....

Fri, 07/20/2012 - 10:23 | 2635966 martens50
martens50's picture

The food there is so bad that the lame line up 20 deep for it. This is further evidence that the price of Mexican food is inversely proportional to the quality.


Fri, 07/20/2012 - 10:27 | 2635986 markar
markar's picture

Blah tasting, overpriced burritos. Bound to happen

Fri, 07/20/2012 - 10:37 | 2636035 Amish Hacker
Amish Hacker's picture

Removing a position from your portfolio after it has plunged 20% and claiming you dodged the bullet is like claiming you "retired retroactively" from the company you still worked for while it was doing unpleasant things.

Fri, 07/20/2012 - 14:09 | 2637030 smiler03
smiler03's picture

Gold fell almost 20% high to low in one year. It might yet fall lower. But never mind, gold is an exception to everything in the known universe. 

Fri, 07/20/2012 - 10:55 | 2636118 MrBoompi
MrBoompi's picture

It's a good thing Goldman knows exactly when to get its shorts on.  You can't have losers without a winner.

Fri, 07/20/2012 - 10:57 | 2636131 bnbdnb
bnbdnb's picture

RoboTard won't be happy.

Fri, 07/20/2012 - 11:41 | 2636332 Waterfallsparkles
Waterfallsparkles's picture

Looks like $95. a share profit is not good enough for them.

They want forced Selling into their profit.  They also want to make sure the price does not go up on their Short until they cover.

Fri, 07/20/2012 - 11:54 | 2636378 Waterfallsparkles
Waterfallsparkles's picture

Looks like Goldman is either trying to crash all of their Hedge Funds or again trading against their Customers.  Maybe both.

Then they pick up the shares the Hedge Funds are forced to Sell and pump the stock back up.

They made a profit and increased sales.  But I guess it is that Wall Street estimate that will get them all the time.

Fri, 07/20/2012 - 12:05 | 2636428 Nobody For President
Nobody For President's picture

Guess I'm lucky to live far enough from population centers to not have a Chipotle anywhere within 75 miles - never been in one, pretty sure I will never have to be in one. 

But it is really good news - we will be able to rag on RoboT big time for awhile. It does feel like a little reality is creeping into the market today, but it's only noon in New Yawk.

Fri, 07/20/2012 - 13:35 | 2636874 covert
Fri, 07/20/2012 - 14:28 | 2637110 yogibear
yogibear's picture

What's the  big deal about their overpriced burrito's? People decided to stop at grande burrito for 1/2 the price.

I was in one once and wasn't impressed. Reminds me of a burrito joint that tried to act like Starbucks.

McDonalds offers any size coffee for 99 cents, now that couldn't have anything to do with Starbucks fall from fad would it?

Sat, 07/21/2012 - 08:45 | 2638594 HungrySeagull
HungrySeagull's picture

Just have a care on the tall coffee from Mcdees. That stuff will burn you if you slip.

We had many a meal in Chi chi's long ago.

Sat, 07/21/2012 - 00:48 | 2638374 Coameric99
Coameric99's picture

Don't forget Cramer taunted Dean Foods DF as a buy.

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