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The Goldman Sachs Group, Inc. (GS)

NYSE - Nasdaq Real-time price. Currency in USD
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196.20-4.94 (-2.45%)
As of 3:32PM EDT. Market open.
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  • R
    Robo
    Biden's tax plans will never raise the amounts he seeks. Even now, families w/ $10-$23 million or more are consulting w/estate attorneys and tax advisors to determine how much money they need to live on and contingency planning for the transfer of the rest to their children (directly or via trusts) before year-end to to escape the recision of the stepped-up basis, higher capital gains taxes, and lower a Federal estate tax exemption should the DEMS sweep. Others are putting together a package of very low interest ( currently the legal allowed long-term annual rate is 1.17%) intra-family loans that let their children invest massive proceeds over their lifetime while still allowing their parents to retain the estate tax exemptions and either convert the loans to a gift later as the tax situation clarifies out simply wait out DEM control of Congress and the Presidency for however many years it takes. The point being there are a couple ways to nimbly sidestep the DEM tax plan---all of which probably means the money for the DEM agenda will have to come from an expanded base of taxpayers---namely middle class and upper middle class Americans. The wealthy will always have a way to legally deal w/whatever tax regime is presented to them, because they can afford the advisors and attorneys and even the transfer of assets to other family members.
  • R
    Robo
    The real near-term risk to the market is that Election results will not be settled or could be disputed into January 2021 as millions of votes get subject to hand re-counting and signature verification. I would not expect Trump to go quietly, nor, should he lose, in any way help the Biden team to transition. Biden could spend much of his first year in office "untangling the knots" and putting his agenda on hold in the middle of a pandemic.
  • A
    ALBERT
    TRUMP: “And by the way, Mexico is paying for the wall.” — New Hampshire rally.

    TRUMP: “No, they are paying for it. Totally.” — North Carolina rally.

    TRUMP: “We got it financed. Mexico will be paying for it because we’re going to charge a fee.”

    THE FACTS: The U.S. is paying for it. Mexico isn’t. The Mexican government flatly refused to contribute to extending or reinforcing barriers on U.S. soil — “Not now, not ever,” Enrique Peña Nieto, then Mexico’
  • A
    Angela
    FYI, the early voting results are coming in from those states (I forget which ones) and it’s in Trump’s favor. The reason everybody was so freaked out in 2016 is because all the early votes were for Hillary Clinton. 
  • J
    JamesM
    All price targets on Goldman Sachs raised
    All in, a 19% ROTCE [return on tangible common equity]. For that, Goldman’s shares did… nothing,” she wrote. “Where’s the debate? Best we can tell, it ties to both the sustainability of capital markets revenue generation and M&A; we see/hear no change in Goldman’s appetite for acquisitions. With respect to sustainability… our estimates already embed a measure of normalization in the near term with the longer-term view supported by steady progress against the bank’s strategic initiatives.”

    The consensus estimate for next year is $24 a share, well below the recent run rate. Based on that estimate, Goldman trades for 8.5 times earnings, one of the lowest multiples in the sector.

    “The legacy businesses are knocking the cover off the ball,” says Michael Mayo, banking analyst at Wells Fargo who has an Overweight rating and $255 price target on Goldman shares. These businesses include trading, investment banking and asset management.

    Mayo says Goldman may have erred in focusing so much investor attention on its efforts to build out its consumer banking franchise, which is a tiny contributor to earnings, when its legacy businesses are so robust.
  • c
    crown_613
    The Los Angeles Times has just reported that last night's debate was received very favorably by 'undecided voters' and is moving many of them towards supporting President Trump...
  • J
    JamesM
    Goldman’s earnings. The firm is also suffering along with other big financial stocks, although Goldman’s earnings have been far stronger than rivals like Bank of America (BAC).

    Goldman shares look cheap based on any major metric. The stock trades below both third-quarter book value of $229 a share and tangible book value of $215 a share.

    Companies trading below tangible book normally have low returns but Goldman generated a 17.5% return on equity in the third quarter, better than industry leader JPMorgan Chase, which trades for about 1.5 times tangible book value.

    Credit Suisse analyst Susan Roth Katzke lifted her price target on Goldman Monday to $262 a share from $255 while maintaining and Outperform rating.
  • A
    ALBERT
    Senate Republicans just pushed through a Supreme Court justice who will help them take away Americans' health care in the middle of a pandemic.

    For them, this is victory.
  • R
    Robo
    FWIW, viewing The Election as a wash. With "The Big Guy" you will get hammered w/ a 28% corporate tax rate, capital gains taxed at over 40% for income for $400K, and increased regulation. On the other hand, the tax rate is not gonna matter if you don't get further immense fiscal stimulus, without which the economy will not rebound, and which only a DEM sweep will provide (think at least $3.5 trillion of added stimulus), the tariffs will be mostly rolled back or even eliminated, and TINA will still be in place for another 3-5 years as the FED stays on hold. Seems to me to argue for a well-diversified semi-balanced portfolio still tilted toward equities but also holding a decent amount of cash, some gold, some foreign stocks (as tariffs get lifted).
  • J
    JamesM
    If Goldman were to trade at 10 times forward earnings—the current Morgan Stanley multiple—the stock would be around $240, more than 15% above the current price.

    Goldman’s franchise has never performed better, and it looks like one of the bigger bargains in financial services.
    “As long as book value continues to grow, the stock should take care of itself,” Mayo says.

    That’s the view of Goldman CEO David Solomon, who was asked this question by JMP Securities analyst Devin Ryan on the firm’s earnings conference call last week:

    “Just looking at the stock, the price is down $20 year-to-date. Book value is up about $10. You put 1MDB behind you. You had a record EPS quarter today. And so I just want to think a little bit about how you guys talk about the stock price internally”

    Solomon replied: “We’ve put out a plan. We believe we’re executing. We’ve got a lot more work to do. If we execute, I assume the stock will follow.”
  • c
    crown_613
    FWIW, both the FBI and Homeland Security are now reported to be investigating the allegations which have been made against the Biden Family for potential influence peddling. What is something of a surprise is that Hunter's computer has reportedly been on the FBI's target list for investigation since 2019...
  • J
    JohnW
    Easy short-squeeze play- “BIGC”. Earning report date Nov. 6! Easy 60% gain!
  • R
    Robo
    A "Blue Wave" would confiscate over half of inherited wealth. Lowering the federal estate tax exemption from $11.6 million (w/ increases for inflation adjustment) to $3.5 million per person, eliminating the stepped-up basis, raising the estate tax to at least 45% from 40%. Combined with the highest incremental income tax rates in CA, NJ and NY rising to as much as 65% (Federal, state, local, social security, medicare, 2.8% Obama era boost on excess income)---very few people will be incentivized to start-up new business, or have a desire to earn over $400,000 annually. Very few new jobs are going to be created as it makes more sense to sit on the couch and watch t.v. rather than work 12 hours a day or become a neurosurgeon. The American Work Ethic will become a thing of the past. At least it won't be the 90% rate AOC and The Squad favor, not yet anyway. Biden as a moderate is a joke---he is very close to fine line between socialist and communist. AOC and her ilk stepped over that line a long time ago. Watch out. They are coming for everything you have earned and everything you own. Along w/ the Blue Wave comes a concomitant new wave among the wealthy: a huge transfer of wealth before year-end 2020 and the secreting of assets.
  • R
    Robo
    This is not the stock market action Trump needs one week before the vote. I think it tips the election to Biden.
  • B
    BAR_FIGHT_MCDRUNK
    The Deporter In Chief is heavily campaigning for Jumpin Joe in Florida. Does he think High Spanic memories are as poor as Joe’s?
  • D
    Daniel Y.
    Dear Mr. Fang Fang,

    $NIO is closed at $26.50 today. Is it still valid your target price of $7? Otherwise, you should issue the new report soon. Good luck with your career too!

    Daniel
  • J
    JamesM
    So when does Goldman say time to buy? You know it’s going to be fast and furious. Look at JPM this morning, hedge funds will get the thumbs up to make a play for Goldman Sachs and it will go up $5-to $10 in a matter of a day or two.
    Try finding another company on Wall Street with massive EPS and giveaway PE
    Just a matter of time, this is not a bank stock
  • R
    Robo
    apparently there is a second laptop
  • G
    Green Machine
    Cup and handle forming on the chart....this is set up to jump up even more from here I think. I could see this at $208 or more by the end of this week. Good luck all!
  • R
    Robo
    Has anyone even seen Hunter? I suspect he is not out on the trail campaigning for "The Big Guy".