Your email address:


Powered by FeedBlitz

Or add to your news reader: Add to My Yahoo! Add to Google

Tuesday, April 14, 2009

Goldman Sachs results are kind of tough to believe

Would Goldman Sachs deliberately manipulate results to make them cosmetically pleasing at a time when the market and administration are desperate to give people something to believe in right in front of a 5 billion dollar stock offering?

Maybe.

Converting to a bank holding company allowed Goldman to report December in a vacuum – a loss of over a billion dollars in write-downs.  It would seem to me the more accurate way for Goldman to have reported was for the 4 months instead of the 3 months.  I think reporting it as they have is deliberately deceptive and makes proper analysis of the quarter impossible.

I need to mention that I have a GS short on, particularly since that link is outrageously biased.  I also would disagree with the author’s allegation that Goldman Sachs is the devil, though I am certain they have banked for a number of his minions.

No comments:

Blog Archive