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Sometimes, even GS finds itself on the wrong side of a bet. This certainly doesn't invalidate your point, but might give you the tiniest bit of solace. http:/
by scottkduncan 15y ago
Sometimes, even GS finds itself on the wrong side of a bet. This certainly doesn't invalidate your point, but might give you the tiniest bit of solace.
http://www.businessweek.com/news/2011-12-14/aluminum-glut-at-record-as-traders-bet-on-price-decline.html http://www.businessweek.com/news/2011-12-14/aluminum-glut-at...
"Dec. 13 (Bloomberg) -- Aluminum stockpiles rose to a record and orders to withdraw metal from warehouses fell to a 15-month low amid speculation traders are adding to bets the commodity will extend its biggest slump since the global recession."
- ImprovedSilence 15y agoMaybe that's just what GS wants you to think. I'd be surprised if their thinking is that short term on their own bets. This is perfect for them, as it takes the heat off of them for stockpiling, but once AL does bounce back, BOOM, they own it all. Not sayin this is fact, or a deeply thought out theory, or that I know too too much about the subject, but I wouldn't say that current price of AL gives me much solace just yet....
- yummyfajitas 15y agoUm, Goldman tends to focus exclusively on short term bets. That's why they won the financial crisis. If Goldman looks like they lost in the short run, they probably did. They'll take the losses, learn from their mistakes, and try to make it up next time.