Baseman initiates coverage on Goldman Sachs (GS) to outperform

Baseman

Attractive Price to Tangible Book. Malaysia litigation in the rear view mirror. An overpriced market, ripe for a fall, is favorable for GS which thrives on trading volatility.

Blu82

GS exposure in commercial real estate concerns me a bit.
You?

Baseman

Blu82 said:

GS exposure in commercial real estate concerns me a bit.
You?

Up 67% on an iconic franchise. Increasing ROE projections of 15% on tangible equity. You're a happy camper if you got in @ $199

Baseman

1st Quarter Blowout

Actual $18.60 vs. $10.22 est.
ROTE: 31%

Share Count Reduction: 2.4%

https://www.goldmansachs.com/media-relations/press-releases/current/pdfs/2021-q1-results.pdf

creepycoug

Baseman said:

Attractive Price to Tangible Book. Malaysia litigation in the rear view mirror. An overpriced market, ripe for a fall, is favorable for GS which thrives on trading volatility.

I just ... you mention that you like to own companies and assess what they do and what that portends etc. I think that way too. And for that reason, I just don't like the iBanks. They don't do anything except, yeah, make money. I think about that scene in the first Wall Street movie with Martin Sheen and Charlie Sheen, where he basically calls his kid useless because he doesn't make or do anything other than sponge off of the work of others.

That's how I think about Goldman. Talk some sense into me.

Baseman

creepycoug said:

Baseman said:

Attractive Price to Tangible Book. Malaysia litigation in the rear view mirror. An overpriced market, ripe for a fall, is favorable for GS which thrives on trading volatility.

I just ... you mention that you like to own companies and assess what they do and what that portends etc. I think that way too. And for that reason, I just don't like the iBanks. They don't do anything except, yeah, make money. I think about that scene in the first Wall Street movie with Martin Sheen and Charlie Sheen, where he basically calls his kid useless because he doesn't make or do anything other than sponge off of the work of others.

That's how I think about Goldman. Talk some sense into me.

Ask and receive. Check the latest post.

Save the "workers unite" speech, Goldman doesn't sell cancer sticks.

If you want to sleep well, they've recently committed to lending -$3 billion to black owned businesses and started a SIF

creepycoug

Baseman said:

creepycoug said:

Baseman said:

Attractive Price to Tangible Book. Malaysia litigation in the rear view mirror. An overpriced market, ripe for a fall, is favorable for GS which thrives on trading volatility.

I just ... you mention that you like to own companies and assess what they do and what that portends etc. I think that way too. And for that reason, I just don't like the iBanks. They don't do anything except, yeah, make money. I think about that scene in the first Wall Street movie with Martin Sheen and Charlie Sheen, where he basically calls his kid useless because he doesn't make or do anything other than sponge off of the work of others.

That's how I think about Goldman. Talk some sense into me.

Ask and receive. Check the latest post.

Save the "workers unite" speech, Goldman doesn't sell cancer sticks.

If you want to sleep well, they've recently committed to lending -$3 billion to black owned businesses and started a SIF

It wasn't so much a moral issue as it is a, call it skepticism, about their real worth. We talk about companies we "like", which is short-hand for our ability to see what they do and how well they do it and how profitable they are in doing it and how that looks as we project into the future. Goldman is just always there to find a way to make money off of it, "it" being the work other companies do and the value they create.

I know I'm oversimplifying it. Like I said, it's not a rational view point.

dirtysouwfdawg

So I really like how you’re not here beating your chest. I also made a mental note to read your future posts that are similar to this... and act.

You called this one!