Can’t Wait For The Slapstick Comedy of GSIP

By Bess Levin

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]

Comments (10)

  1. 1
    Posted by Anonymous | January 8, 2008 at 10:46 AM

    Schadenfreude

  2. 2
    Posted by nice | January 8, 2008 at 10:48 AM

    “i.e. the central showcase for the unbridled abnormal genius that is Goldman Sachs Asset Management”

  3. 3
    Posted by Anonymous | January 8, 2008 at 10:48 AM

    @ 10:46- yes, we’re all jealous about GS’s ability to eat it.

  4. 4
    Posted by GSGA Guy | January 8, 2008 at 10:49 AM

    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

  5. 5
    Posted by chad | January 8, 2008 at 10:52 AM

    is there anyway we can superimpose a beanie with one of the helicopter spinners on top of his head?

  6. 6
    Posted by tupac | January 8, 2008 at 11:04 AM

    i swear to god its like chris farley came back from the dead to do an snl skit and he put it on youtube.

  7. 7
    Posted by Ken Houghton | January 8, 2008 at 12:16 PM

    ‘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.”

  8. 8
    Posted by HIzza | January 8, 2008 at 7:53 PM

    “ThinkEquity Global Alpha” That is so preposterous it ends up being much funnier than GA down 39%.

  9. 9
    Posted by Anonymous | January 11, 2008 at 3:45 PM

    My comment was removed. That’s censorship. The cooler blogs keep all the comments up to encourage hilarity.

  10. 10
    Posted by AboveAllmad | September 16, 2011 at 5:58 AM

    I know guys making 50 to 120% each year trading just well desiged automated strategies, including myself :)

    What the hell is GS doing to lose THAT much??? My bet is, when their trades are wrong, they never close them and let the losers turn into gigantic losers , all with high leverage.
    For example, autosystemtrader.com systems are making a killing during current volatility.
    There are smart traders out there, big firms like GS, BofA, FX Concepts aint one of them…

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