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Need a Hand?
Your Next Project Starts with Brownstoner
Denton, who is liable for the oil leak – both BP and RIG or just one of them (albeit both brands getting smacked around)
Fair enuf L.
Agree about the senators too.
Seems that still all is not a matter of black and white, GS could be right on the legal but perceived to be wrong on the ethical. Guess the key like I said earlier will not be the man in the street or even reasonably economically sophisticated folks like some here, but their clients.
Of course there are two fewer investment banks for clients to go to post BS and LEH.
Looking forward to seeing how this plays out.
Lechacal, good points. And, lest we not forget, they are innocent until proven guilty and this whole “court of public perception” like the Senators are trying to rally is unjust.
denton….my colleagues are getting interested in all the drillers with this selloff. I know nothing about that indusrty so I won’t opine. I’ll let you know if they pull the trigger on any of them.
I would meantion thought that in his call this morning, barton biggs said he was buying them.
“The GS case is a factual and legal one, and the appropriate forum for resolving it is in a court of law, NOT in front of a bunch of bullying senators who intentionally plant the seeds of misunderstanding in the minds of a public that is looking for someone to blame.”
But aren’t they working on the legislation? Or is that not what the hearings are about?
How about “straddles,” Pete??
rob, did you know there was an options postion called a “butterfly?” Are you secretly a black box options trader????
I didn’t say any of you in particular don’t understand the product. I said that the fact you are offering your opinions in this forum demonstrates that GS has already lost the more important battle.
It’s sort of like having a public debate about whether or not the president has a US birth certificate or a public debate about whether or not there are weapons of mass destruction in Iraq. Public awareness of an issue like this creates huge numbers of people who take the factually / legally incorrect side of the issue. It’s not like a debate about abortion or capital punishment, where there is no scientifically or factually right or wrong answer, but rather a moral / ethical issue to be resolved through political means. The GS case is a factual and legal one, and the appropriate forum for resolving it is in a court of law, NOT in front of a bunch of bullying senators who intentionally plant the seeds of misunderstanding in the minds of a public that is looking for someone to blame.
Public awareness of the issue isn’t wrong in the sense that it should have been suppressed, but I do think it is an unfairly bad outcome for GS because it is creating an unfairly negative public perception that will do disproportionate harm to their organization.
I’m tempted at $145, but seems more downside risk than up right now. I suppose the real question is if the large smart institutional clients like other IBs feel GS has been unethical, or not. More important than cab drivers and BStone posters. If they lose enuf business…
Anyway what’s killed me this week is RIG.
EOY BV was $117…end of 1Q leeks to be around $122..so maybe buy around $128-130.
I love initiating positions.