Goldman Sachs Is An Investment Time Bomb
Tuesday, 13. November 2007, 21:46:48
Today's up in price for Goldman Sachs, GS, makes it an excellent short selling opportunity.
Perhaps Tim Knight sees things the way I do; as he is buying puts on three banks: Goldman Sachs, Lehman Brothers and Principal Financial Group.
I haven't investigated PFG, but the first two: Goldman Sachs and Lehman Brothers are ticking timebombs, as their Level 3 assets to equity ratio are 185% and 159% respectively.
Even though Goldman Sachs said that it will not book any losses for it's subprime losses because it has covered those through short selling, the company still has "mark to book write downs" coming for those Level 3 assets that were not addressed in today's press.
Martin Hutchinson write in Level Three Decimation that "Goldman's entire existance rests on the value of it's Level 3 Assets".
Given those yet to be disclosed Level 3 Asset write downs, and today's pop-up, Goldman Sachs manifests as a great short selling opportunity.
Perhaps Tim Knight sees things the way I do; as he is buying puts on three banks: Goldman Sachs, Lehman Brothers and Principal Financial Group.
I haven't investigated PFG, but the first two: Goldman Sachs and Lehman Brothers are ticking timebombs, as their Level 3 assets to equity ratio are 185% and 159% respectively.
Even though Goldman Sachs said that it will not book any losses for it's subprime losses because it has covered those through short selling, the company still has "mark to book write downs" coming for those Level 3 assets that were not addressed in today's press.
Martin Hutchinson write in Level Three Decimation that "Goldman's entire existance rests on the value of it's Level 3 Assets".
Given those yet to be disclosed Level 3 Asset write downs, and today's pop-up, Goldman Sachs manifests as a great short selling opportunity.
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