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This quarter, most banks and brokers have been busy suspending their buyback programs and cutting their dividends as their earnings outlook deteriorates. Goldman Sachs (GS), on the other hand, not only continues to buy back stock but they also authorized an additional $12.5 bln for future buybacks. With a market capitalization of roughly $88 bln, today's announcement represents approximately 14% of the company's market cap.
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Goldman Sachs is an 'investment time bomb'; and a small put, that is a sell, should be part of every one's investment portfolio.
Posted by: Richard | December 18, 2007 at 10:37 AM
Richard, can you explain further, please, why GS is an investment "time bomb."
Posted by: Pitch | December 18, 2007 at 11:10 AM
GS is the darling of the Finance Sector for now.
I am sure they have the capabilities to perform better with the confidence vote the Industry has given them.
Alfred Chew
http://mylevel2quotes.com
Posted by: Alfred Chew | December 22, 2007 at 09:44 AM