Goldman Sachs Part III - 97% right market calls
Original post made by resident on Aug 5, 2009
The data coming out from Goldman Sachs (GS) Q2 trading activities leaves one incredulous. I won't go into rehashing all the conspiracy theories but as Gordon Gecko says - this is a game of information. And no one is more connected to the loop than Goldman. I have not had time to write a piece on the high frequency trading scandal erupting but I've often said I only know so much about the market, and even what I know scares me as its a Wild Wild West environment. Our sheriff (SEC) is one most consider inept if not captured by those firms it is supposed to regulate. Harry Markopolos who was trying to hand the SEC the Madoff case for a decade pretty much explained the issues [Mar 1, 2009: 60 Minutes, Harry Markopolos - the Man who Figured Out Bernie Madoff]
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