Using Veritas to Construct the "Per…

29-04-2017 Hits:87116 BoomBustBlog Reggie Middleton

Using Veritas to Construct the "Perfect" Digital Investment Portfolio" & How to Value "Hard to Value" tokens, Pt 1

The golden grail of investing is to find that investable asset that provides the greatest reward with the least risk. Alas, despite how commonsensical that precept seems to be, many...

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The Veritas 2017 Token Offering Summary …

15-04-2017 Hits:81055 BoomBustBlog Reggie Middleton

The Veritas 2017 Token Offering Summary Available For Download and Sharing

The Veritas Offering Summary is now available for download, which packs all the information about Veritas in a single page. A step by step guide to purchasing Veritas can be downloaded here.

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What Happens When the Fund Fee Fight Hit…

10-04-2017 Hits:80891 BoomBustBlog Reggie Middleton

What Happens When the Fund Fee Fight Hits the Blockchain

A hedge fund recently made news by securitizing its LP units as Ethereum-based tokens and selling them as tradeable (thereby liquid) assets. This brings technology to the VC industry that...

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Veritaseum: The ICO That's Ushering in t…

07-04-2017 Hits:85365 BoomBustBlog Reggie Middleton

Veritaseum: The ICO That's Ushering in the Era of P2P Capital Markets

Veritaseum is in the process of building peer-to-peer capital markets that enable financial and value market participants to deal directly with each other on a counterparty risk-free basis in lieu...

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This Is Ground Zero for the 2017 Veritas…

03-04-2017 Hits:81871 BoomBustBlog Reggie Middleton

This Is Ground Zero for the 2017 Veritas Offering. Are You Ready to Get Your Key to the P2P Capital Markets?

This is the link to the Veritas Crowdsale landing page. Here is where you will be able to buy the Veritas ICO when it is launched in mid-April. Below, please...

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What is the Value Proposition For Verita…

01-04-2017 Hits:84056 BoomBustBlog Reggie Middleton

What is the Value Proposition For Veritas, Veritaseum's Software Token?

 A YouTube commenter asked a very good question that we will like to take some time to answer. The question was, verbatim: I've watched your video and gone through the slides. The exchange...

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This Real Estate Bubble, Like Some Relat…

28-03-2017 Hits:55105 BoomBustBlog Reggie Middleton

This Real Estate Bubble, Like Some Relationships, Is Complicated...

CNBC reports US home prices rise 5.9 percent to 31-month high in January according to S&P CoreLogic Case-Shiller. This puts the 20 city index close to an all time high, including...

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Bloomberg Chimes In With My Warnings As …

28-03-2017 Hits:83302 BoomBustBlog Reggie Middleton

Bloomberg Chimes In With My Warnings As Landlords Offer First Time Ever Concessions to Retail Renters

Over the last quarter I've been warning about the significant weakness in retailers and the retail real estate that most occupy (links supplied below). Now, Bloomberg reports: Manhattan Landlords Are Offering...

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Our Apple Analysis This Week - This Comp…

27-03-2017 Hits:83048 BoomBustBlog Reggie Middleton

Our Apple Analysis This Week - This Company Is Not What Most Think It IS

We will releasing our Apple forensic analysis and valuation this week for subscribers (click here to subscribe - lowest tier is the same as a Netflix subscription). As can be...

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The Country's First Newly Elected Lame D…

27-03-2017 Hits:82943 BoomBustBlog Reggie Middleton

The Country's First Newly Elected Lame Duck President Will Cause Massive Reversal Of Speculative Gains

Note: Subscribers should reference  the paywall material here for stocks that should give a good risk/reward scenario for bearish trades. The Trump administration's legislative outlook is effectively a political desert, with...

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Sears Finally Throws In The Towel Exactl…

22-03-2017 Hits:89183 BoomBustBlog Reggie Middleton

Sears Finally Throws In The Towel Exactly When I Predicted "has ‘substantial doubt’ about its future"

My prediction of Sears collapsing once interest rates started ticking upwards was absolutely on point.

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The Transformation of Television in Amer…

21-03-2017 Hits:86917 BoomBustBlog Reggie Middleton

The Transformation of Television in America and Worldwide

TV has changed more in the past 10 years than it has since it's inception nearly 100 years ago This change is profound, and the primary benefactors look and act...

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For those that haven't been following my market manipulation rant, see "More on market manipulation, guess who..." and be sure to follow all of the links therein. I have been following the program trading activities of Goldman, et. al. in an attempt to trace the cause of significant, non-fundamental movement of US eqity prices. I am also posting this reminder Goldman performance for the "lost" month of December to remind all that when one takes risk, one eventually has to pay the piper - even the golden boys.

In December 2008, Goldman Sachs net revenues from trading and principal segment stood at $507 mn as the company recorded $801 million loss from principal investments and $320 million loss from Fixed Income, Currency and Commodities (FICC), which together were partially offset by $614 million net revenues from equities.

 

  • Principal Investments recorded net losses of $529 mn from real estate principal investments and $501 mn from corporate principal investments, partially offset by a gain of $228 mn related to its investment in the ordinary shares of ICBC
  • FICC segment reported negative net revenues of $320 mn including $1 bn loss in credit products of (net of hedges) related to non-investment-grade credit origination activities (primarily due to $850 mn write-down relating to the bridge and bank loan facilities held in Lyondell Basell Finance Company). In addition, the segment results included a net loss of approximately $625 mn (excluding hedges) on commercial mortgage loans and securities.
  • During December 2008 net revenues from equity trading and commissions were $363 mn and $251 mn, respectively, lower than average monthly levels observed during 2008.
  • According to Goldman Sachs conference call during April 2009 although the company received cash after the government bailout of AIG, but it did not impact the operating results of the company as the transaction was not passed through profit and loss account though it was treated as part of cash.

Trading and Principal Investments Operating Results

Dec-08

Three Months
Ended March
2009

Three Months
Ended Feb
2008

FICC

(320)

6,557

3,142

 

   

 

Equities

   

 

Equities trading

363

1,027

1,276

Equities commissions

251

974

1,238

Total Equities

614

2,001

2,514

 

   

 

Principal Investments

   

 

ICBC

228

(151)

(135)

 

   

 

Gross gains

213

672

552

Gross losses

(1,243)

(1,933)

(962)

Net other corp & real estate investments

(1,030)

(1,261)

(410)

 

   

 

Overrides

1

4

13

Total Principal Investments

(801)

(1,408)

(532)

 

   

 

Total net revenues

(507)

7,150

5,124

 

   

 

Operating expenses

(875)

4,873

3,743

 

   

 

Pre-tax earnings/(loss)

(1,382)

2,277

1,381

 

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