Happy Birthday Lloyd Blankfein!Mark McGoldrick's Parting Gift Bolsters Profits At Goldman Sachs

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Is it even possible for an analyst to correctly estimate the earnings of a secretive investment bank like Goldman Sachs? If so, someone should tell the analysts how to do it.
Goldman blew them away again this morning. It not only beat expectations. It reported Wall Street's only profit gain, as Bloomberg reported this morning. A good piece of that profit gain was thanks to the sale of Horizon Wind Energy LLC, a Houston based alternative energy company that Goldman bought five years ago for $150 million and recently sold to a Portuguese power company for $2.1 billion.
Ironically, the man behind that purchase was Mark McGoldrick, who headed Goldman's special opportunities group. Earlier this year, McGoldrick left Goldman after becoming convinced that the firm wouldn't adequately compensate him or his group for the outsized gains they were earning.
This morning's earnings report is a nice little birthday present for Goldman topdog Lloyd Blankfein. As he blows out his candles on his ice-cream cake this afternoon, Blankfein should at least make a wish for McGoldrick, the man who helped make this birthday exta-special. Oh, and maybe wish a little something for whoever it was who shorted mortgages at Goldman and turned this summer's subprime-led credit crisis into a profit opportunity.
Goldman Profit Rises 79 Percent as Gain Boosts Trading Revenue [Bloomberg]
Goldman Sachs 8-K [SEC]

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