Goldman says investment banking won't grow like it used to.
The gambling days are over where they used to compete to blow up the economy, rather than working to build up for betterment. That's my own assessment basically. Bear Sterns, Lehman Brothers and a smaller Merrill Lynch inside BAC, lost their way in thinking buy and hold didn't work anymore and sell side hedge funds grew like wild fire and now they realized the massive leveraging up only gave them a big headache in the end and they have to now deleverage as M&A investment banking shrinks and shrinks. Of course many people here think markets are supposed to blow itself up and they bet against markets and hope to collect from bankrupt book makers like Goldman Sachs but even that is ludicrous to think or even believe if you believe in beliefs. :-)
Goldman is looking to build in a new way, through asset management, like a Black Rock with some $4Trillion in assets, the highest of them all. This sounds like buy and hold to me. Accumulating assets? I can't believe Goldman is now in the, "Clients first business", now?
Holy Smoke! I know you diehards believe in belief and that belief is set in stone. Don't move, stay still..........forevaaaaa.............. lol
Goldman says it's into risk management. They always say that! But they want to own real things now rather than just concentrate on trading and taking away the stupid pension fund managers, 401K managers, etc, managed money of pensioners. By and large the pension funds are under funded and instead of saying no way, no how, never and never, nada, nada, NO MASS!!??...................... get your act together and build for the future! Markets are supposed to be there to be honest and true rather than being in a perpetual cut throat business en masse and then complain about terrorism and the lot.
Now gimme some more of those thumbs down!!!! hewhewhewhew