Goldman bails out ahead of the face plant ipo.

S

shopster

Goldman Sachs – the company that mysteriously winds up on the right side of every trade – is selling its shares of the social media website Facebook.

In a filing made yesterday with the Securities and Exchange Commission, the Wall Street investment bank said it would sell 28.7 million of the 65.9 million Facebook shares it owns.

Goldman is cashing out to the tune of about $1 billion on Facebook's upcoming initial public offering (IPO).

Goldman bought in January 2011 when the company was valued at $50 billion.

The IPO valuation range will peg the company at around $100 billion. So Goldman and its clients got a one-year double out of Facebook.

If Goldman is selling… do you really want to be buying?

cheers,

s

:cool:
 
Hedge-fund manager David Einhorn, said yesterday at the Ira Sohn Investment Conference in New York that Facebook's IPO road show presentation " felt like a rock concert........"

According to a number of reports from the conference – including the financial blog Zero Hedge – Einhorn said he liked two Japanese social media companies (Dena Co and Gree Inc.), both of which were much cheaper than Facebook.

rock on...............:)

s


:cool:
 
Right on point Shopster. GS doesn't make many mistakes.

Never go broke taking a profit!

GS selling on the first day of trading! Does anyone need a bigger signal!
 
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