No Home Cooking For Goldman Sachs

Yesterday, Goldman Sachs removed Eli Lilly from its conviction sell list. In the past few weeks shares of Eli Lilly have rallied nearly 15% while the market has rallied 5%. This was the second time this year I was able to make a very nice profit by buying stocks on Goldman's conviction sell list. The first was American Express at $10.

Goldman Sachs is a top notch firm that knows how to make money. However, they don't make money from eating their own cooking. Not when it comes to equity research.

1 comment:

Anonymous said...

In Straight From The Gut, Jack Welch said when he audited Kidder Peabody and Joseph Jett, he never saw so many mediocre people making so much money. He never understood these Wall Street bankers and traders, and I agree dawg.

I look at some of the people I used to know back in the day who are now hotshots in these whiteshoe firms, and though some are good people (the exception), but most of them are scumbags. Just good talkers and bsers.

There is not a big difference when it comes down to it from your average crack dealer to your average wall streeter.