Ready?
Here is the tip...
if you want to lose money, just follow Goldman Sachs investment advices, because the chances are great that you would lose money.
Says who?
Well... here's the proof... it's according to them stats!
- Goldman Sachs Group Inc. racked up trading profits for itself every day last quarter. Clients who followed the firm’s investment advice fared far worse. Seven of the investment bank’s nine “recommended top trades for 2010” have been money losers for investors who followed the New York-based firm’s advice, according to data compiled by Bloomberg from a Goldman Sachs research note sent yesterday.
Clients who followed the tips lost 14 percent buying the Polish zloty versus the Japanese yen, 9.4 percent buying Chinese stocks in Hong Kong and 9.8 percent trading the British pound against the New Zealand dollar.
ps: Life is great or what....
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6 comments:
My argument about not trusting a broker's research department (ala OSK et al). The same applies here as well.
Goldman Sachs coudn't be the only one.
How about our local Investment Bank.
If that a good tip to lose money, maybe we can create another tip to make money. If Goldman Sach say buy, we sell, if they say buy, we sell.
People r lazy to think 4 themselves
& always expect free things will drop out from the sky 4 them !!!
How true is this quote "there is no
such thing as free lunch" if they
always keep that in their mind , then they will not be an easy target 4 the conmen.
What is great to see is that the folks at Bloomberg took the effort to compile such data.
:D
We still have 6 months to go before 2010 ends. So, lets not kill the rat so early! Hahahaha.
Goldman Sachs or the other major investment banks could be on the other side of the trade doing risk management! I guess GS is way better in risk control rather then compiling trade ideas!
But fair play to the analysts from GS, they did make some good calls last year.
There are a few unexpected events happen this year. It is a trader's market. Markets are getting volatile.
JP: The problem I cannot understand also is why is their investment advice is so poor when their traders "racked up trading profits for itself every day last quarter."
Well perhaps the investment advice team should seek advice from their own traders.
:P
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