Saturday, 11 July 2009 20:00

Goldman pre-earnings announcement update for subscribers Featured

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I have updated my Goldman opini0n  to take into consideration all of the buzz and banter being curried about concerning Goldman's potential trading profits (and consequent bonuses). It appears that very few analytical sources are totally objective regarding Goldman's performance and valuation, which is why practically everyone (except for me) missed their fall from $250 down to $50 last year.

Apart from the empirical analysis, there is a quote in an article from CNBC which sums up my thinking: 

"They exist, and others don't, and taxpayers made it possible," said one industry consultant, who, like many people interviewed for this article, declined to be named for fear of jeopardizing business relationships.

Startling, too, is how much of its profits Goldman is expected to share with its employees. Analysts estimate that the bank will set aside enough money to pay a total of $18 billion in compensation and benefits this year to its 28,000 employees, or more than $600,000 per employee. Top producers stand to earn millions.

Goldman was humbled along with the rest of Wall Street when the financial markets froze last year. As a result, it lost money in the final quarter of the year, a rarity for the bank. Along with other big banks, it was compelled to accept billions of dollars in federal aid, which it paid back last month.

Subscribers (click here to subscribe) can dowmload the most recent Goldman Opinion here: Goldman Sachs Q2 2009 Pre-announcement opinion Goldman Sachs Q2 2009 Pre-announcement opinion 2009-07-13 00:08:57 1.18 Mb

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§  As Reality hits, the Masters of the Universe are starting to look like regular bank employees

 

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Read 4796 times Last modified on Sunday, 12 July 2009 21:36
Reggie Middleton

Resident Contrarian Badass at BoomBustBlog (you can call me Editor-in-Chief)...

Disruptor-in-Chief at Veritaseum.com, where we're ushering the P2P Economy.

 

www.boombustblog.com
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