Just about everyone took it on the chin this morning, but, of course, the real schadenfreude story we know you care about is Goldman. Well, after hitting $49.00 a share earlier, they've managed to crawl their way up the slime pole again to around $53.00 per share. Right about now Buffett is explaining to some skittish investor somewhere that his investment in Goldman was for the long term, and, anyhow, he gets preferred dividends on his stock. Stick that in your pipe and smoke it, cause this is exactly the situation ole WB was thinking of when he gunned from those dividends.
Dead Cat Bounce after the jump.
$49.00 per share shows an entirely different form of pathetic for Goldman. It's below even their IPO price. *Whack*
Other financial have fared little better this morning. Citi hit $4.76 at one point. Morgan Stanley scraped the bottom of the $9.00 barrel before the worst was over, and we have the rest of the day to go still.
Jobless data is the current target of the blame game. That's as good an answer as any, we suppose.
Developing.
Posted by Harald , Nov 20, 2008 11:27AM
wow DB is really eager to put the nail in that goldman coffin which may or may not come to pass...
Posted by guest , Nov 20, 2008 11:30AM
@1- you sir are an idiot
Posted by guest , Nov 20, 2008 11:32AM
Wow, you hedge fund guys are really smart and talented.
http://www.bloomberg.com/apps/news?pid=20601087&sid=arL.nGOD_PPY&refer=home
Posted by guest , Nov 20, 2008 11:32AM
Going Long and strong baby- let the stock picking has begun.
Posted by guest , Nov 20, 2008 11:33AM
How dare you diss Goldmans! They have $50bn of shareholder equity, loads of liquidity and an old boy network that runs the world. Hang on, what's that? $1trillion of assets? No problem, they aren't related to current market woes. Apart from the private equity stuff. And the other equity stuff. And the other prop stuff. Still, as long as these assets aren't impaired by more than 5% they'll be okay.
Posted by guest , Nov 20, 2008 11:35AM
the ipo price was $53, which may be why it is trading "around" $53. schadenfreude won't fully kick in until the single digits.
Posted by guest , Nov 20, 2008 11:35AM
GS is finished. Berkshire is finished. C is finished.
Posted by guest , Nov 20, 2008 11:35AM
"Nobel-prize winner Myron Scholes froze his biggest fund."
Haha, he must be like "Not this shit again!"
Posted by guest , Nov 20, 2008 11:36AM
Buffett is not at all worried about that investment in Goldman. He's earning 10%. The warrants are just gravy - they still have some value and if the thing bounces he makes out like a bandit.
But, you are right, it is nice to see GS take a beating. I only wish Hank Paulson were still holding on to his shares.
It is nice to see all those guys at Goldman get killed on their deferred like the rest of us - and that'll help bring the prices down in Easthampton.
GS is definitely a mess and that old strategy of front-running the customer seems to have blown up on them this time. But why do I get the feeling they'll just use this low share price to reload the deferred accounts, then get some cushy handouts from the alumni network, and be back above $200 before Shitty hits 8.
Posted by guest , Nov 20, 2008 11:37AM
anyone remember stock splits?
Posted by guest , Nov 20, 2008 11:39AM
@10 believe they will 10-1 reverses and the world suddenly looks better. Wouldn't want to be the geek in the NYSE delisting office.
Posted by guest , Nov 20, 2008 11:39AM
After Lehman disappearing which was seen as Nuclear bomb
Any other financial diving will be the equivalent of a BLACK HOLE.
Someone has to right this ship.
Posted by guest , Nov 20, 2008 11:40AM
After Lehman disappearing which was seen as Nuclear bomb
Any other financial diving will be the equivalent of a BLACK HOLE.
Someone has to right this ship.
Posted by guest , Nov 20, 2008 11:40AM
I don't work at GS, don't own any shares, and don't know anyone who does work there.
That being said, if GS falls to single digits, we are so beyond FUBAR!
We're talking, black and white reels, food lines, brokers jumping from windows, soup kitchens, tent cities, loud pinstripe suits with matching fadoras, Germany & Italy going socialist, Japan bringing back the Empire: MF World Depression!
DID I MISS ANYTHING?
Posted by guest , Nov 20, 2008 11:40AM
fuck these posts
i want layouff MS post. It was the best night i had yday at DB
I am sure it was the case for most
Posted by guest , Nov 20, 2008 11:43AM
Goldman girls will be real easy once GS is under $30 a share.
Posted by guest , Nov 20, 2008 11:44AM
"The ship be sinkin'..."
Micheal Ray Richardson - 1982
Posted by guest , Nov 20, 2008 11:45AM
@14
You missed the Central Park would go back to being a rest haven for the homeless.
Posted by guest , Nov 20, 2008 11:45AM
10,600 jan 2010 5 puts traded so far today
Posted by guest , Nov 20, 2008 11:45AM
GS = $25. by Hannukah
Put that in your dreidel and spin it!
Posted by guest , Nov 20, 2008 11:45AM
Bloodbath, Deathrattle, Downward Spiral,Grim, WTF ? It's like the Emo kids just noticed Wall Street.
Posted by guest , Nov 20, 2008 11:47AM
Is GS = $25 by hannukah
then MS = $0.3525 (After a 1:10 split) by Hannukah
Posted by miami , Nov 20, 2008 11:47AM
The sudden appearance of all the haters who couldn't get BOjobs in Delaware is quite amusing.
OH NOEZ, GS stock is beating the market by 30% since inception!!11! Man the lifeboats!
Posted by guest , Nov 20, 2008 11:49AM
@5 we all know you work at goldman and your stock and bonus is in the shitter...your just like those subprime morons who spent money they dont have...must be a bitch to borrow against your stock and now its worth shit...
Ill see GS @ 20..thats when im buying.
Posted by guest , Nov 20, 2008 11:50AM
@23: "beating" a beaten-down market is like being a one-eyed wideclopsman in the land of the blind.
Posted by guest , Nov 20, 2008 11:52AM
I need some investors to go in on this idea. Ok, I know these dudes in Somalia and they have an oil investment worth about $100m. If we give them $25m we can have a tanker, crew and contents. Anybody with me?
Posted by guest , Nov 20, 2008 11:52AM
All the Wall Street schadenfreude is hysterical. If places like GS go down it will be Depression part deux. Which for the people at GS means they have to sell their house in Wainscott or the Cape and on Main Street means you have to sell a kidney.
Posted by guest , Nov 20, 2008 11:53AM
Im reserving my tent in central park by the boat house. If i play my cards right i can sublet some tents as well. I just need a big TARP and I can make a huge developement out of nothing. Hmmm
Posted by guest , Nov 20, 2008 11:53AM
id love to see this firm blow up. fck those elitist prick fcks
Posted by guest , Nov 20, 2008 11:54AM
@26: Go sit on a sharp stick.
Posted by guest , Nov 20, 2008 11:59AM
If GS pricks have to sell their houses in Wainscott, that means less smug, entitled assholes on the lines at Breadzilla on Saturday mornings - will sacrifice a kidney just to not have to look at these douches next summer
Posted by guest , Nov 20, 2008 12:00PM
@26 could we set up a SPV for this?
Posted by guest , Nov 20, 2008 12:01PM
Employees get $11 billion in bonuses while shareholders take it in the keister; great business model - make the shareholders feel the pain
Posted by Harald , Nov 20, 2008 12:01PM
Goldman will not fail.
Posted by guest , Nov 20, 2008 12:01PM
Can we have "wideclops" added to the Dealbreaker main page? Best term ever. Yesterdays MS thread was legendary.
Posted by guest , Nov 20, 2008 12:02PM
C just broke 5
Posted by guest , Nov 20, 2008 12:02PM
@33 works for Blackstone
Posted by guest , Nov 20, 2008 12:02PM
"Sometimes you bleed just to know you're alive" -Goo Goo Dolls
haha
Posted by guest , Nov 20, 2008 12:03PM
SOMALIAN PIRATES APPLY TO BECOME BANK TO ACCESS TARP
*PAULSON: TARP PIRATE EQUITY IS AN `INVESTMENT,' WILL PAY OFF
*KASHKARI SAYS `SOMALI PIRATES ARE 'FUNDAMENTALLY SOUND' '
*Moody's upgrade Somali Pirates to AAA
*HUD SAYS SOMALI DHOW FORECLOSURE PROGRAM HAD `VERY LOW' PARTICIPATION
* SOMALI PIRATES IN DISCUSSION TO ACQUIRE CITIBANK
*FED OFFICIALS: AGGRESSIVE EASING WOULD CUT SOMALI PIRATE RISK
*FED AGREED OCT. 29 TO TAKE `WHATEVER STEPS' NEEDED FOR SOMALI PIRATES
Posted by guest , Nov 20, 2008 12:04PM
C<5!
Posted by guest , Nov 20, 2008 12:05PM
POT: 17.5 B
GS : 20.75 B
GS more worthless than manure, soon baby soon!
Posted by guest , Nov 20, 2008 12:06PM
C<5!
Posted by guest , Nov 20, 2008 12:06PM
C<5!
Posted by NAS Keflavik boi , Nov 20, 2008 12:09PM
@ 27 - uh,don't bet on it. Anyway, if things are THAT bad, no one will be paying for organ transplants
Posted by guest , Nov 20, 2008 12:10PM
#19, there are no such series, get back in your cage or go back to your back office job
Posted by guest , Nov 20, 2008 12:12PM
SOMALI PIRATES TO USE SWAG, PIECES O' EIGHT AS COLLATERAL IN FEDS LENDING FACILITY
Posted by guest , Nov 20, 2008 12:13PM
@3 "hedge fund guys" also seem to be an angry bunch as well
Posted by guest , Nov 20, 2008 12:14PM
@34, oh yes, Goldman can fail.
A wise man once said: "If anything in this life is certain, if history has taught us anything, it's that you can kill anyone."
Posted by guest , Nov 20, 2008 12:16PM
I'm at a HF. Don't know if we will be around this time next year.Don't know what would be worse: get laid off now, or next year, when it may be even more dismal. Crap.
Posted by guest , Nov 20, 2008 12:16PM
SOMALI PIRATES AIMS MERGER WITH GOLDMAN SACHS TO BECOME "TOO BIG TO JAIL"
Posted by guest , Nov 20, 2008 12:18PM
GS has what, $60B in lvl III assets? Yea good luck with that, im sure there's nothing mispriced in that fuckng sht pile
Posted by guest , Nov 20, 2008 12:18PM
Somali & Pirates 500 Index is losing its head and shoulders
Posted by guest , Nov 20, 2008 12:18PM
@48 Well ... now that you quote the fictional character Michael Corleone you have to be right.
Posted by guest , Nov 20, 2008 12:19PM
@39 and @46: SPIBOR swap spreads ease 50bp based on this.
Posted by guest , Nov 20, 2008 12:20PM
@45 http://finance.yahoo.com/q?s=YFTMY.X
-not 19
Posted by guest , Nov 20, 2008 12:25PM
Hey - 34 - OH YES, THEY CAN
GS no longer the Sacred Cow and will soon be knocked off their high horse when they approach $20
Posted by guest , Nov 20, 2008 12:25PM
I don't think it is actually schadenfreude when the demise is deserved.
Posted by guest , Nov 20, 2008 12:33PM
I'm a Somali Pirate Manager. What are pieces o' eight?
Posted by guest , Nov 20, 2008 12:33PM
@ 27, and who is going to buy the kidney?
Posted by guest , Nov 20, 2008 12:34PM
@39 good job
Posted by guest , Nov 20, 2008 12:37PM
I'm a Somali Pirate, whatever happened to "blndebanker" ?
Posted by guest , Nov 20, 2008 12:41PM
61 Was wondering the same thing about "girl". And "calgary shmooze", who had some really good insights.
Posted by guest , Nov 20, 2008 12:44PM
Are you guys watching GM? That shit is in play today
Bluehorseshoe loves general motors
Posted by guest , Nov 20, 2008 1:01PM
U.A.W. loves Bluehorseshoe
Posted by guest , Nov 20, 2008 1:05PM
@39 LMFAO
Posted by guest , Nov 20, 2008 1:14PM
@39 - agreed = made my week
Posted by guest , Nov 20, 2008 1:21PM
@28 - The real finches will be by the hotdog cart.
Posted by guest , Nov 20, 2008 1:38PM
IMHO depression 2.0 is a probability not a possibility at this point.
Regardless of whether 1 or all 3 of the former BIG 3 file for bankruptcy or are merely forced to restructure there is going to be massive job losses for everyone in the auto industry.
We are in a deflation death spiral. Anyone have any idea's about how we are going to pull out(besides spode whom i am sure has many ideas about pulling out)out of this.
Posted by guest , Nov 20, 2008 1:40PM
@39...PRICELESS! Made my day.
Posted by guest , Nov 20, 2008 1:46PM
Somali Pirates
Isn't that another name for European Admiralty foreign agents?
The "Mad Mullah" lives
http://en.wikipedia.org/wiki/1920_conflict_between_British_forces_and_Somaliland
More impossible history. unless they are in cahoots.
-The British had previously been defeated at the Battle of Dul Madoba in 1913 and four subsequent expeditions to defeat Hassan and his forces had failed.[1]
-By early 1919, despite the British having built large stone forts to guard the passes to the hills, Hassan and his armed bands were at large, robbing and killing.[1]
-It was also during that first bombardment that Hassan came close to being killed, narrowly avoiding death when an unfortunate camel shielded him from a nearby bomb blast.
-On 28 January the Camel Corps occupied Jideli and Hassan retreated to his main fort at Taleh. After combined land and air operations, the British took Taleh on 9 February. Hassan's forces suffered great losses and were scattered, his forts were damaged and he escaped with only four of his followers to Ogaden.[1]
Posted by guest , Nov 20, 2008 2:03PM
@18 Isn't it already?
Posted by guest , Nov 20, 2008 2:20PM
@51 Yeah, $60B stated in LevelIII crap, but what to look at is the LevelII. How many hundreds of billions there, should actually be marked to the LevelIII?
Posted by guest , Nov 20, 2008 2:26PM
@51
$60B showing in levelIII, but how many hundreds of billions showing in Level II should be classified in Level III? That is the question.
Posted by guest , Nov 20, 2008 3:05PM
CITADEL and GS tied at the hip? Gotta be the end of Citadel no??? WHat else driving the silliness?