Goldman Sachs Conference Call Highlights

Paul has the full scoop: Highlights from Goldman Sachs’ Conf Call Today

(Is it so wrong to find this terribly amusing?)


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  1. Bob A commented on Aug 14

    and remember folks… the trickle down effect works in reverse when those in the upper tax brackets are getting crushed

  2. Deborah commented on Aug 14

    The GS infusion into their hedge fund, not being a bailout, reminds me of a comment the daughter of an acquaintance told me: “Trudy is not my real mother.” This little girl was accompanied by her father and his girlfriend to a party I was hosting. Sometimes (actually a LOT of times), children can see more clearly than adults.

  3. Sailorman commented on Aug 14

    How is this for the understatement of the year?
    Bloomberg -“Moody’s, S&P Lose Some Credibility With New Credit Derivatives ”

  4. michael schumacher commented on Aug 14

    I think GS stock movement of the last few days says all that need be said about it’s communication skills.

    That’s two conference calls in two days when they are totally known for secrecy and behind close door dealings. It was a great short;-)
    that I am now out of since it’s being defended almost minute by minute with the standard: nothing to see here move along…

    that’s not what it’s SP is saying…


  5. Davis Hall commented on Aug 14

    As Hamlet said to Horatio, “Thus has he—and many more of the same bevy that I know the drossy 180 age dotes on—only got the tune of the time and outward habit of encounter, a kind of yeasty collection, which carries them through and through the most fond and winnowed pinions; and do but blow them to their trial, the bubbles are out.”

    Translation: *He’s like so many people in these trashy times—he’s patched together enough fancy phrases and trendy opinions to carry him along. But blow a little on this bubbly talk, and it’ll burst. There’s no substance here.*

    Shakespeare wrote much on the unpopularity of some money-lending activities. Goldman Sachs and other firms should get a Get a Clue and Wise up.

  6. michael schumacher commented on Aug 14

    The power of the english language:
    investment opp.=bailout
    market volatility=it actually does go down
    fair market value=whatever we can get
    orderly exit=run, don’t walk because that other guy is doing the exact same thing.

    GS=Major bullshit


  7. Stuart commented on Aug 14

    “Hey, blame it all on CANADA like in the Simpsons!”
    “Dylan Ratigan on CNBC blamed it on the French.”

    A strange thing this term “accountability.”
    The US complains loudly about shoddy products imported from China all the while the rest of the world is gagging from shoddy financial products it (Goldman Sachs et al) willfully sold. Then when they do squawk about being sold weeds instead of roses, its their fault for gagging and squawking. A real twist of irony is, the effect of this direct foreign investment is foreign central banks have to loosen first now, so the US dollar is gaining a bid. Disgustingly sick on so many levels.

  8. Dale commented on Aug 14

    I know Sentinel is not a money market fund, but has anyone heard about this?

    ” There is unconfirmed talk many money market funds including BlackRock (nyse: BLK – news – people ), Schwab, and Fidelity may have attempted to enhance their investment returns by purchasing low-quality debt instruments and now face withdrawal problems because they cannot value these assets in the current environment.

    Thomson IFR Markets said: ‘This is a scary development. If this problem spreads to Vanguard, Fidelity, and other large money market funds, funds with trillions of dollars, we shudder to think that we might see an old-fashioned ‘run on the bank’.'”

  9. michael schumacher commented on Aug 14

    all of us will have alot more to discuss on the redemption side of things by tomorrow (that is assuming that we actually get some sort of REAL news about it)

    I think the administration will trot out Hank* again as they realize the size and scope of the redemptions.

    *why not POTUS??…because he’s on vacation and can’t be bothered with any of this.


  10. Oh no commented on Aug 14

    Oh shoot. Since I seem to lose money every time I mess with my IRA I turned it over lock, stock and barrel to Merrill Lynch and told them I just wanted to check the statement 1x a year, but I think that they put some of it into the BlackRock Dale mentioned.

  11. Adam commented on Aug 14

    Thanks, Dale, for pointing me to that Forbes article and ruining my night. My family has almost all of our money in Fidelity Money Market accounts. Last year, I prudently opened an account at Vanguard, just so that I wouldn’t have all my eggs in one basket. Looks like I’ll get raped in all holes now.

  12. VJ commented on Aug 14


    *why not POTUS??…because he’s on vacation and can’t be bothered with any of this.

    Neither snow, nor rain, nor heat, nor a PDB titled “Bin Laden determined to strike in US” stays the Bushies from their appointed vacation plans.

  13. golden_lifeboat commented on Aug 15

    If they trotted GWB again, what tiny little shreds of credibility that remain would be blown to the four winds. He don’t exactly look competent and in-charge on TV these days.

    Better to have some flunky issue e-mail releases after 5PM of anything that needs to be said. The more these guys try to hold up the market with the power of positive thinking, the worse they look.

    Not that this has stopped them before.

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