Goldman Sachs's FLAGSHIP fund--i.e. the central showcase for the unbridled abnormal genius that is Goldman Sachs Asset Management-- Global Alpha, lost more money last year than almost any other major hedge fund, according to Financial News. Maybe it's a sign that I need to leave my job (or just get out more), but the fact that this highly prestigious investment bank has in its possession a hedge fund as shitty as GA, which started 2007 with $10 billion and posted a loss of 39 percent is endlessly amusing to me. ThinkEquity Global Alpha down almost 40%? Not that funny. Goldman Global Alpha down almost 40%? Hysterical. But then again, these are the same jokesters who brought you Global Equity Partners (worst performing global equity manager in the third quarter of last year, down 2.8 percent; not sure how badly they lost it in Q4, perhaps you do) and Global Equity Opportunities (don't make me look it up), so hilarity was bound to ensue.
Anyway. I think we all know what time it is:
Earlier: Goldman Sachs: If You're Looking For An Infinite Number Of Second Chances To Lose Billions Of Dollars, You've Come To The Right Place
Goldman Sachs leads hedge fund stragglers [Financial News]
Posted by , Jan 08, 2008 10:46AM
Schadenfreude
Posted by nice , Jan 08, 2008 10:48AM
"i.e. the central showcase for the unbridled abnormal genius that is Goldman Sachs Asset Management"
Posted by , Jan 08, 2008 10:48AM
@ 10:46- yes, we're all jealous about GS's ability to eat it.
Posted by GSGA Guy , Jan 08, 2008 10:49AM
fuck me!
you know the trader i work for lost more money than i can even believe in his book this year, he just got promoted within the organization, they like that he had conviction in his model so expect another big year from global alpha
Posted by chad , Jan 08, 2008 10:52AM
is there anyway we can superimpose a beanie with one of the helicopter spinners on top of his head?
Posted by tupac , Jan 08, 2008 11:04AM
i swear to god its like chris farley came back from the dead to do an snl skit and he put it on youtube.
Posted by Ken Houghton , Jan 08, 2008 12:16PM
'the fact that this highly prestigious investment bank has in its possession a hedge fund as shitty as GA, which started the 2007 with $10 billion and posted a loss of 39 percent is endlessly amusing to me. "
Would 25% be less amusing? Would 50% be more? Or have we indeed found Bess's optimal return at -39%?
BSC stock is right around that level from the "no, I'm not selling at $118, the stock [now below $75] is worth at least 25% more than that."
Posted by HIzza , Jan 08, 2008 7:53PM
"ThinkEquity Global Alpha" That is so preposterous it ends up being much funnier than GA down 39%.
Posted by , Jan 11, 2008 3:45PM
My comment was removed. That's censorship. The cooler blogs keep all the comments up to encourage hilarity.