Goldman Sachs
Banks Write Legislation
Submitted by CalibratedConfidence on 05/24/2013 08:21 -0400- American International Group
- Ben Bernanke
- Ben Bernanke
- Capital Markets
- Citigroup
- Corruption
- Federal Reserve
- Financial Overhaul
- Goldman Sachs
- goldman sachs
- HFT
- House Financial Services Committee
- Jamie Dimon
- Maxine Waters
- New York Times
- Securities Industry and Financial Markets Association
- SIFMA
- Treasury Department
- Wells Fargo
...understand the national threat that is our fragmented and perverted equity market microstructure that is driven by such esoteric order-types such a Post No Preference Blind Limit Order created through the buddy system of exchange/order volume producer.
- advertisements -
- CalibratedConfidence's blog
- 18 comments
- Read more
- 3726 reads
Frontrunning: May 24
Submitted by Tyler Durden on 05/24/2013 07:31 -0400- Activist Shareholder
- Apple
- Ben Bernanke
- Bloomberg News
- Bond
- CBOE
- China
- Cohen
- Corporate Finance
- Crack Cocaine
- Crude
- Goldman Sachs
- goldman sachs
- GOOG
- Housing Market
- Insider Trading
- Ireland
- John McCain
- Natural Gas
- News Corp
- Peter Chernin
- Private Equity
- recovery
- Reuters
- SAC
- Sears
- Time Warner
- United Kingdom
- Volatility
- Wall Street Journal
- World Trade
- Yuan
- The deeper agenda behind "Abenomics" (Reuters)
- BoJ governor Haruhiko Kuroda promises to stabilise bond market (FT)
- Obama Sees Sunset on Sept. 11 War Powers in Drone Limits (BBG)
- Lower CPMs for everyone: FTC Begins Probe of Google's Display-Ad Business (WSJ)
- Apple’s Tax Magic Leaves Irish Bondholders Unmoved (BBG)
- Asia Goes on a Debt Binge as Much of World Sobers Up (WSJ)
- All hail Gazpromia: UK gas supply six hours from running out in March (FT)
- Spain’s banks face €10bn more provisions (FT) ... and then more, and more, and more
- Truck strike may have caused Washington state bridge collapse, officials says (Reuters)
- P&G Says A.G. Lafley Rejoins as Chairman, CEO (BBG)
- Five Key Things About the SAC Insider Case (BBG)
- advertisements -
- 13 comments
- Read more
- 2506 reads
Four Signs That We're Back In Dangerous Bubble Territory
Submitted by Tyler Durden on 05/22/2013 15:41 -0400- Bank of Japan
- Bond
- Central Banks
- Chris Martenson
- Consumer Confidence
- default
- Equity Markets
- ETC
- European Central Bank
- Fail
- Fisher
- Goldman Sachs
- goldman sachs
- Greece
- Gross Domestic Product
- Housing Bubble
- Housing Prices
- Irrational Exuberance
- Japan
- Krugman
- Market Crash
- Nikkei
- Paul Krugman
- Price Action
- Purchasing Power
- Reality
- recovery
- Sovereign Debt
- The Economist
- Unemployment
- Yen
As the global equity and bond markets grind ever higher, abundant signs exist that we are once again living through an asset bubble – or rather a whole series of bubbles in a variety of markets. This makes this period quite interesting, but also quite dangerous. This can be summarized in one sentence: How could this be happening again so soon?
- advertisements -
- 74 comments
- Read more
- 23464 reads
The Macro Story as Told by Gold, Copper and Oil
Submitted by EconMatters on 05/22/2013 07:47 -0400Unless there's a shock to the system when people start seeking safety, there's not much upside momentum for gold.
- advertisements -
- EconMatters's blog
- 41 comments
- Read more
- 7600 reads
Frontrunning: May 22
Submitted by Tyler Durden on 05/22/2013 07:29 -0400- Apple
- Bank of Japan
- Barrick Gold
- Ben Bernanke
- Ben Bernanke
- Bond
- Carlyle
- China
- Corporate Finance
- Crude
- Crude Oil
- Darrell Issa
- European Union
- Ford
- Fox News
- General Motors
- Goldman Sachs
- goldman sachs
- Hong Kong
- Iceland
- Insider Trading
- Italy
- Jamie Dimon
- Japan
- JPMorgan Chase
- Keefe
- KKR
- Markit
- Mexico
- Private Equity
- Real estate
- Reuters
- SAC
- Starwood
- Testimony
- Wall Street Journal
- Westfield
- Yen
- Yuan
- Apple Bonds Stick Buyers With $280.6 Million Loss as Rates Climb (BBG)
- Iceland Freezes EU Plans as New Government Shuns Euro Crisis (BBG)
- "Transparent Fed" - Ben Bernanke meets privately with Darrell Issa (Politico)
- Bank of Japan vows market steps to curb bond turbulence (Reuters) holds policy (FT)
- Stockholm riots spread in third night of unrest (FT)
- Dudley Says Decision on Taper Will Require 3-4 Months (BBG)
- Senate panel passes immigration bill; Obama praises move (Reuters)
- Italy to outline youth jobs plan as government struggles (Reuters)
- Apple CEO Tim Cook, Lawmakers Square Off Over Taxes (WSJ)
- Google Joins Apple Avoiding Taxes With Stateless Income (BBG)
- Sony Board Discussing Loeb’s Entertainment IPO Proposal (BBG)
- Vote Strengthens Dimon's Grip (WSJ), Dimon performance well choreographed (FT)
- advertisements -
- 9 comments
- Read more
- 2408 reads
Goldman Confirms 'Recovery' Hopes Have Gone As 'Slowdown' Deepens
Submitted by Tyler Durden on 05/21/2013 14:34 -0400
With US Macro no longer the clean dirty shirt, the 'hope' of a recovery from the Spring swoon has faded rather quickly according to Goldman's latest Global Leading Indicator (though obviously not David Kostin). The modest April pick up - driven mainly by sentiment indicators as opposed to hard data - has faded as the reality of economic deterioration was more pronounced as both the Philadelphia Fed headline and the New Orders less Inventories components (the advanced proxies for Goldman's Global PMI aggregate) fell to the lowest level in more than six months. The S&P GSCI Industrial Metals Index also made new lows and fell for the third month in a row. The CAD and AUD TWI Aggregates weakened, driven primarily by a weaker AUD, and US Initial Claims also worsened from last month. But apart from that... as Goldman notes, the decline in momentum was a bit more substantial in May than many had expected.
- advertisements -
- 42 comments
- Read more
- 13184 reads
Is It Time To Buy Apple As A Valuation Play? The Contrarian That Called The Top In Apple Weighs In
Submitted by Reggie Middleton on 05/21/2013 13:55 -0400The question Du Jour is, "Has margin compression been fully priced into this stock?" or more to the point "Is it time to buy Apple shares as a value play?"
- advertisements -
- Reggie Middleton's blog
- 7 comments
- Read more
- 3855 reads
Goldman Goes Uberhyper-Bullish, Hikes S&P500 Target To 1750 By Year End, Sees 2100 By 2015
Submitted by Tyler Durden on 05/21/2013 08:24 -0400
"Our positive 2013 outlook for S&P 500 has played out much faster than we expected." That is how the latest equity update from Goldman Sachs, which until today had an S&P target of 1625 for the year end S&P, begins. And, logically, the only option for Goldman is to hike its outlook even more, because not even the Squid apparently could anticipate how quickly the policy it forced down the throats of central banks around the world, levitated markets to surpass its old price targets. The result is David Kostin (who until December had foreseen 1250 on the S&P for the end of 2012) and company were forced to goalseek even higher targets based on tried and true excel model fudging exercises, and such "value" creation as multiple expansion and dividend payments. To wit: "Our earnings estimates remain unchanged but we raise our dividend estimates and index return forecasts for 2013 through 2015. We expect S&P 500 will rise by 5% to 1750 by year-end 2013, advance by 9% to 1900 in 2014, and climb by 10% to 2100 in 2015. Our 2013 return implies a year-end P/E of 15.0x, a one multiple point premium to our fair-value estimate. We forecast dividends will rise by 30% during next two years. Dividend yield is likely to stay around 2%, in line with the 20-year average." For the record, Goldman had previously seen 1,900 in 2015. And now it sees another 200 points of value due to the magic of multiple expansion. That anyone can even pretend to forecast what happens three years into the future at a time when the central banks are injecting $160 billion (and soon $200 billion), and most likely will have to slowdown and halt such liquidity injection resulting in untold stock market carnage, is so beyond commentary we will leave it hanging for the ridiculous statement it is.
- advertisements -
- 74 comments
- Read more
- 8910 reads
Frontrunning: May 21
Submitted by Tyler Durden on 05/21/2013 07:48 -0400- Activist Shareholder
- Allied Capital
- Apple
- Bill Gross
- Bond
- Charlie Ergen
- China
- Cohen
- Corporate Finance
- Crack Cocaine
- Credit Suisse
- Dell
- Deutsche Bank
- European Union
- Ford
- France
- Goldman Sachs
- goldman sachs
- Gross Domestic Product
- Hershey
- India
- Insider Trading
- International Monetary Fund
- Ireland
- Japan
- JPMorgan Chase
- Mexico
- Morgan Stanley
- Newspaper
- Obama Administration
- Oklahoma
- Private Equity
- ratings
- Recession
- Reuters
- SAC
- SocGen
- United States Attorney
- Wall Street Journal
- Yen
- Yuan
- IMF Tells Central Europe to Spend More (WSJ)
- Tornadoes Blast Oklahoma (WSJ)
- Frenetic search for survivors as 91 feared dead in tornado-hit Oklahoma (Reuters)
- JPMorgan investors on edge over vote on Dimon; what if they win? (Reuters)
- Wealthy bank depositors to suffer losses in EU law (Reuters)
- Yen Slips as Amari Backtracks (BBG)
- Japan Ready for More Yen Weakness Despite Recent Comments (WSJ)
- IRS officials back on Capitol Hill hot seat over targeting (Reuters)
- Li Keqiang pledges China boost to India trade (FT)
- Europe's Recession Sparks Grass-Roots Political Push (WSJ)
- Obama and Xi to meet in effort to calm growing US-China rivalry (FT)
- Berlin plans to streamline EU but avoid wholesale treaty change (FT)
- France must reform or face punitive measures - EU's Oettinger (Reuters)
- advertisements -
- 8 comments
- Read more
- 2896 reads
Goldman "Proves" That "Good News Is Good For Equities, And Bad News Is Good For Equities"
Submitted by Tyler Durden on 05/20/2013 11:07 -0400
While anecdotally we see again and again that equities rally on bad news (The Fed will save us) and good news (see The Fed saved us), none of that matters until it gets the Goldman Sachs stamp of approval. Sure enough, in a detailed study over the weekend, designed to defend their bullish equity view (specifically financials) and expectations for QE3 to continue to Q3 2014, the bank that does God's work offered up these pearls of statistically sound wisdom: "while equity prices respond more to dovish surprises than hawkish surprises, the results suggest that equity prices typically go up regardless of whether the Fed policy surprise is positive or negative (“good news is good for equities, and bad news is good for equities”). But it is not at all clear why the equity market should systematically buy into this pattern." So rest assured, buying wins; of course, that is, until it doesn't.
- advertisements -
- 26 comments
- Read more
- 5578 reads
Judd Gregg Redefines "Revolving Door" - From US Senator, To Goldman Sachs Advisor, To Head Of SIFMA
Submitted by Tyler Durden on 05/20/2013 08:51 -0400
Behold the definition of a "revolving door" - Judd Gregg: from US Senator, to Goldman Sachs advisor, to SIFMA head, all in under two years.
- advertisements -
- 75 comments
- Read more
- 11850 reads
It’s Official: Gold Is Now The Most Hated Asset Class
Submitted by Tyler Durden on 05/18/2013 21:37 -0400
Not a day passes without the financial media denouncing gold as an investment option and hailing the bureaucrats heading the world's monopolist monetary central planning agencies as superheroes. It began prior to gold's recent breakdown, with widely cited bearish reports on gold published by Credit Suisse and Goldman Sachs, among others. Never mind that most of their arguments were easily unmasked as spurious. It should be no wonder though: gold's rise was the most conspicuous evidence of faith in central banking being slowly but surely undermined. The banking cartel relies on the fiat money system remaining intact; the legal privilege of fractional reserve banking provides it with what is an essentially fraudulent profit center unparalleled by any other in the world (fraudulent in terms of traditional legal principles, but not in terms of the current law of course). As a subtle reminder, in October (before the Nikkei began its 80% rally), a full 76% of the 'big money' fund managers surveyed declared themselves bearish on Japan. Currently, 69% of the managers surveyed in the most recent Barron's poll are bearish on gold.
- advertisements -
- 306 comments
- Read more
- 43473 reads
Which EU Economies Are Growing?
Submitted by Tyler Durden on 05/17/2013 11:30 -0400
As Europe ends another week comfortably in the green (near all-time highs) - the short answer - not many...as the region's longest recession in history rolls on...
- advertisements -
- 85 comments
- Read more
- 23606 reads
Goldman Issues Q&A On Tapering: Says "Not Yet"
Submitted by Tyler Durden on 05/17/2013 10:32 -0400On one hand we have bad Hilsenrath sending mixed messages saying the Fed may taper sooner (with good Hilsenrath chiming in days later, adding it may be later after all), depending on whether HY bonds hit 4% YTM by EOD or mid next week at the latest. On the other, even resolute Fed doves are whispering that a tapering may occur as soon the summer, so in a few months, and halt QE by year end. Bottom line - confusion. So who better to arbitrate than the firm that runs it all, Goldman Sachs, and its chief economist Jan Hatzius, who issues the following Q&A on "tapering." His view: "not yet." Then again, Goldman is the consummate (ab)user of dodecatuple reverse psychology, so if Goldman says "all clear" the natural response should be just as clear.
- advertisements -
- 46 comments
- Read more
- 7402 reads
Frontrunning: May 17
Submitted by Tyler Durden on 05/17/2013 07:31 -0400- Activist Shareholder
- Apple
- Bain
- Bill Gates
- Boeing
- China
- Chrysler
- Citigroup
- Corporate Finance
- Corruption
- Dell
- Dow Jones Industrial Average
- Dreamliner
- Gambling
- Goldman Sachs
- goldman sachs
- Japan
- JPMorgan Chase
- Keefe
- LIBOR
- Medicare
- Mexico
- Private Equity
- Reuters
- Robert Rubin
- SAC
- Saudi Arabia
- Sears
- United Kingdom
- Wall Street Journal
- World Gold Council
- Yuan
- Mine union threatens to bring South Africa to 'standstill' (Reuters)
- Russia Raises Stakes in Syria (WSJ) - as reported here yesterday
- Japan buys into US shale gas boom (FT)
- Bill Gates Retakes World’s Richest Title From Carlos Slim (BBG) - so he can afford a Tesla now?
- China Wages Rose Sharply in 2012 (WSJ)
- Regulators Target Exchanges As They Ready Record Fine (WSJ)
- Citi Takes Some Traders Off Bloomberg Chat Tool (WSJ)
- After Google, Amazon to be grilled on UK tax presence (Reuters)
- Apple CEO Cook to Propose Tax Reform for Offshore Cash (BBG)
- French, German politicians to pressure Google on tax (Reuters)
- Gold Bears Revived as Rout Resumes After Coin Rush (BBG)
- A stretched Samsung chases rival Apple's suppliers (Reuters)
- advertisements -
- 7 comments
- Read more
- 2762 reads






