Saturday, September 22, 2007

GS a Guaranteed 30% Return revisited

Remember this post GS A Guaranteed 30% return. I took a lot of heat on this one. But only a little more than one month later Goldman is up 20% already. Come to find out Goldman is a pretty good company. Even though the charts were telling us that Goldman's business was going to hell in a hand basket we now find out that Goldman's traders were a little more savvy than that. They had been shorting the real estate debacle. So instead of losing a ton of money they actually made a ton. Who knew? I only show this because it illustrates very well how panicking never made anybody any money.