Goldman Saks SPX forecast

on CNBC...940 SPX at year end...based on $40 EPS for 2009 and $53 for 2010.

on CNBC...940 SPX at year end...based on $40 EPS for 2009 and $53 for 2010.

Didn't GS analysts forecast $200/bbl oil last summer?

on CNBC...940 SPX at year end...based on $40 EPS for 2009 and $53 for 2010.

Didn't GS analysts forecast $200/bbl oil last summer?

yes, am aware of their timely wrong way forecasts

they had a $150 forecast earlier in the spring. if you read the whole article, they're calling the bottom with SPX falling to 650 at worst.

they had a $150 forecast earlier in the spring.

if you read the whole article, they're calling the bottom with SPX falling to 650 at worst.

Goldman's Murti Says Oil `Likely' to Reach $150-$200, from May '08

Yes, oil almost reached their lower end range; however they still bought into the mania. Not exactly a good fade though as oil kept going up.

they had a $150 forecast earlier in the spring.

if you read the whole article, they're calling the bottom with SPX falling to 650 at worst.

didn't see story, only headline on CNBC...do you have a link for the story?

The S&P 500 may drop to 650, compared with yesterday’s close of 764.9, Goldman’s Investment Strategist David Kostin wrote in a report today, before rebounding later in the year. Kostin’s team cut a 2009 year-end forecast for the index to 940, a 23 percent potential upside from current levels, from 1,100 previously.

http://www.bloomberg...id=ahC5AC6THlhU

The S&P 500 may drop to 650, compared with yesterday’s close of 764.9, Goldman’s Investment Strategist David Kostin wrote in a report today, before rebounding later in the year. Kostin’s team cut a 2009 year-end forecast for the index to 940, a 23 percent potential upside from current levels, from 1,100 previously.

http://www.bloomberg...id=ahC5AC6THlhU

thx for sharing

How can you trust those people?

Goldman Sachs Partners Borrow to Cover Margin Calls

Tough times on Wall Street are reaching all the way to the highest levels of the most storied former investment bank—Goldman Sachs—as partners there are being forced to borrow money to cover margin calls, according to sources within the firm.

Several Goldman Sachs partners have leveraged their Goldman Sachs stock to buy alternative investments such as hedge funds & private equity, and they have done so through their Goldman Sachs brokerage accounts.

But Goldman stock [GS 82.31 -3.40 (-3.97%) ] has declined in value by more than 50 percent since last spring, meaning that Goldman Sachs is in the awkward position of making margin calls on its own partners, who can't meet those calls because their alternative investments are underwater and they don't have enough cash on hand.

Now those partners are being forced to borrow money—millions of dollars—to meet Goldman Sachs' own margin calls.

Sources at Goldman told CNBC that the borrowing is not a widespread phenomenon. It affects a "few" partners, sources say. But it is significant enough that the firm is arranging for its own financial advising firm to help facilitate borrowing for partners that need the money.

Buying stock on margin—basically on credit—is inherently risky. When markets turn down and stock values fall, the people who offer that credit call their clients, needing more cash to make up the lost value. These "margin calls" are a classic sign of bad times in the market all the way back to the depression, and now they're back, big time.

Margin calls are fairly common on Wall Street and there are several high profile examples of top execs being squeezed by margin calls—Sumner Redstone of Viacom, Chairman/CEO Aubrey McClendon of Chesapeake Energy). And now it's happening at the white shoe firms, Goldman Sachs.

© 2009 CNBC.com

http://www.cnbc.com/id/29260008