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The Goldman Sachs Group, Inc. Message Board

  • smoothinvestorguy smoothinvestorguy Mar 26, 2008 7:30 AM Flag

    Financials...Bottom In? I think NOT!...

    I believe SKF is a nice way to hedge against the financials going down. I added some shares in the $102's yesterday. We may see a pop to $110 today.

    Sorry gang, I am one of Goldman's biggest bulls as I think they are top notch in the industry, but financials have NOT reached a bottom yet!

    Look for a couple of hedge funds to go under in the near term.

    Goldman themselves stated there will be up to $1.2 trillion in losses/writedowns/writeoffs when it's all said and done.

    The dollar is falling again.

    Gold is rising again.

    Oil is on it's way back up!

    So who thinks the bottom is in? Why?

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    • March 26 (Bloomberg) -- Citigroup Inc., the biggest U.S. bank by assets, had its first-quarter loss estimate quadrupled by Oppenheimer & Co. analyst Meredith Whitney on expectations for further asset writedowns.

      The bank may lose $1.15 a share, compared with an earlier estimate of 28 cents, reflecting potential writedowns on leveraged loans and collateralized debt obligations of $13.1 billion, Whitney said in a note to investors dated yesterday. She cut her full-year estimate to a loss of 15 cents a share from a profit of 75 cents.
      DB warning and now this. i tend to agree, a good time to take profit for those of us that caught last weeks up move. i will reevaluate if GS is 158-160, which i expect.

157.44+0.22(+0.14%)Apr 17 4:00 PMEDT

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