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1 point posted on 09/17/08

N/A

pro_trader:

-52.68%
risk: conservative

Any thoughts on GS

Stock is tanking on huge volume and looks like there are more losses to follow. The stock has still not entered oversold levels either amplifying my belief that there is still more carnage in this name. I always thought that GS was the one company that had minmal subprime exposure. Does anyone have a theory of why its tanking? Is it just going down in sympathy with the other financials or is there seriously a problem. Please advise

Comments (4)

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allstarinvestor

85%

1 point commented 439 days ago reply

Book value means nothing in financials. dont you realize that that is the entire problem? there assets arnt worth what they say they are.

traderdrew

51%

1 point commented 440 days ago reply

book value in financial issues is so opaque that it is hard to just it as a viable valuation metric. Plus book value will change next time there are write downs

Walter Thatcher

74%

1 point commented 442 days ago reply

Wait on Goldman. When they are trading at book(it's now trading at a 1.26 P/B) or less, buy. You will look like a genius in three years.

midg3t

75%

1 point commented 442 days ago reply

i agree wait for a book value of 1

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