Goldman Sachs Q4 EPS $8.20

[Daal]

Quote from ASusilovic:

In the fourth quarter, compensation previously accrued was reduced to fund a charitable contribution to Goldman Sachs Gives, the firm’s donor-advised fund, which is reflected in the negative compensation and benefits expenses of $519 million for the quarter. This contribution of $500 million was part of total commitments to charitable and small business initiatives during the year in excess of $1 billion.

This should be renamed to PR capex

 

[Ivanovich]

Quote from Dogfish:

May have been the last hurrah before Obama slaps them on the wrist for doing prop trading later today

The prop business is 10% of their game.

 

[krazykarl]

Quote from Dogfish:

May have been the last hurrah before Obama slaps them on the wrist for doing prop trading later today

I don't see this happening. You can only punish businesses for being successful so much. If Obama does this now the MA. senate vote/referendum will evolve into a shitstorm for his administration.

 

[krazykarl]

Quote from Ivanovich:

The prop business is 10% of their game.

market making ftmfw.

 

[Dogfish]

Quote from Ivanovich:

The prop business is 10% of their game.

Their trading and direct investments accounted for 76% of their 2009 income and that's not just taking brokerage and spreads off client trades. Compare that to someone like Westpac which was 5%. I know a prop guy who's traded at a number of the wall street banks and he says I'm naive to think it's not about using client flow for the banks' own advantage. It's goodbye to Goldman glory trading years and back to reality of taking fees from advisory. Just annoyed I didn't put my money where my mouth was on my first post and taken the 4% drop in their stock - doh!