How Goldman Lifted the Bank Group
The trough. The trough in earnings. That's what people saw today in Goldman Sachs (GS), which ignited a powerful banking rally with its better-than-expected quarter this morning: $1.84, vs. the $1.23 people were looking for.
Sure, the revenue was light. Sure, the compensation, while reduced, was still way up compared with the revenue. But what happened here is simple. Today you saw Goldman Sachs at its most horrible, most naked, least exciting, and you know what? It still made a lot of money. It did so by just being good at what it does. Not being great, but being better than everyone else....424 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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