Loading ...So, this is the exact bull shit that I’m continuously talking about. The first call for GS was EPS of 3.54; today they announced EPS of 4.99. Yesterday, before the number, Goldman Sachs moved from around 140 to 150 in a single day! Note, this was before earnings were released. Yet today, after a huge blow out numbers, the stock is actually trading down pre market. I expected this today simple because GS executives will need to dump shares into strength. I am 100% certain that the information was leaked (or the very minimal hinted) by the early announcement of huge record breaking bonuses for their employees. At least that was how I assumed they would have record breaking number, that and the fact that they received 25 Billion from AIG.
While all those pump monkeys are upgrading each other…I, the Great Iota am downgrading Goldman Sachs today. Why you ponder? Let take a look at the reasoning.
First, I’m very suspicious by the fact that they never report debt to equity ratios…just by this very fact, they fail my acid test. What exactly is enterprise value of -341 Billion? That just doesn’t sound good.
Second, I don’t see any more AIG bail outs in the works were Goldman Sachs will get billions from tax payer’s money.
Third, their profitable inside dealings with the government and all the programs will eventually be talked about in the public (especially when other financial institutes start to flop). Besides, this can’t go on forever.
Fourth, Goldman’s Sachs as a company has become too big (or too much of the financial banking system) that they are now a liability for economic recovery. They have become a parasite sucking the life out of its very host.
Fifth, I do not trust any of their financial statements. Goldman Sachs in my opinion is just another Madoff.
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