Goldman Sachs to reveal $3bn hit

Quote from Mup:

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/03/16/cngold116.xml


Goldman Sachs, Wall Street's most powerful investment bank, will this week announce asset writedowns worth about $3bn (£1.5bn), its biggest jolt to date from the crisis threatening to engulf the world's financial markets.

Goldman, which has largely thrived amid the turmoil elsewhere on Wall Street, is expected to report a fall in first-quarter earnings of about 50 per cent. The writedown will underline how the financial turbulence is now affecting even the most stellar performers.
Senior managers at Goldman have warned
against complacency in recent months
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Thanks for sharing this. I was wondering about GS as they have performed really well through all this. But was wondering about their own exposure too. Thanks.
 
Yes, but by guiding with the $3B number - it becomes just that!

Dumbass perma-bulls will say it now is "old news" and therefore already priced into the market. So we CAN now go up from here!!!

It IS ugly, man.

pS
 
$3 Billion


Can we believe that figure or should they just round it up to 20-30 billion dollars......


GS isnt worth 155 a share, if BSC is worth $2 a share I would place GS with a value of about 50 bucks at most.
 
Quote from S2007S:
GS isnt worth 155 a share, if BSC is worth $2 a share I would place GS with a value of about 50 bucks at most.
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JPM bid $2 a share for BSC, doesn't necessarily mean they're worth only that. I have a feeling JPM got away with a huge steal on this as the real estate alone is more than what they paid, we will only know in hindsight though.
 
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