Goldman Sachs' Hot Streak

The Wall Street Journal reports Goldman’s Pandemic Hot Streak Continues in Third Quarter

Key Points

Classic Explanation

Goldman has had a notably profitable pandemic. With a smaller lending book—about $112 billion to JPMorgan’s nearly $1 trillion—it is less exposed to defaults. And it is more heavily geared toward trading, which picked up this year as investors scrambled to reset their portfolios for a prolonged period of low interest rates and heightened economic risk.

Simpler Explanation

Goldman Sachs still does God's Work.

For those unfamiliar with the simple explanation please consider God's Work and Goldman's Prayer

While acknowledging the role of banks in the financial meltdown [of 2007-2009], the CEO of Goldman Sachs said recently he believes his company is doing "God's work."

My Version of "Lloyd's Prayer"

Our chairman who art at Goldman
Blankfein be thy name
Thy rally’s come, God’s work be done
In the Dow as it is in the Nasdaq
Give us this day our daily gain
And forgive us our front-running, as we punish those who frontrun against us
And bring us not under indictment
But deliver us from regulators
For thine is the cashflow, and the power, and the bonuses, forever and ever. Amen


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Goldman Sachs leads the way this quarter on "beat the street" silliness.

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Those betting against Goldman Sach’s retail investment advice have generally been on the right side of things.

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It frequently pays to treat Goldman Sachs as a contrarian indicator. This is another one of those times.

Huge Carry Trade Blowup at Goldman

Bloomberg is reporting Goldman’s Global Alpha Fund Fell 22 Percent in August

Goldman Projects a Catastrophic GDP Decline Worse than Great Depression

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#1 Reason to Vote Brexit: Goldman Sachs, JPM, IMF Seek Remain

Brexit logic is a curious thing. The list of names of organizations who are against Brexit are the very same names that ignite memories of housing bubbles, blown economic forecasts, and the rising income inequality woes the left rails against.

Trump's Ignores Advisors, Doubles Down on Failed Policies, Kudlow Won't Comment

Despite all losses and no wins, Trump refuses to change his tariff policy. He is now a one-man show.

JP Morgan Warns the Big Squeeze is Coming

JP Morgan, Bank of America, and Goldman Sachs all say Fed funding issues remain.