Market Currents

Bloomberg has discovered a secretive Goldman Sachs (GS) department called Multi-Strategy...

Tuesday, January 8, 5:27 AM ET
Bloomberg has discovered a secretive Goldman Sachs (GS) department called Multi-Strategy Investing (MSI) that has no clients and uses the bank's funds to invest in stocks and bonds. While MSI doesn't trade in and out of positions on a daily basis, it sells most assets after a few months. The activities seem to somewhat fly in the face of Lloyd Blankfein's assertion in July that Goldman no longer carries out proprietary trading.

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This news story has 9 comments:

davidingeorgia Comments (2697)

Gosh, someone caught a big bankster like Blankfein telling a lie! Who could have predicted such a thing!

8 Jan, 05:37 AM Reply Like

bbro Comments (7847)

Big deal....let them take risks..just require a lot of capital to back it up....

8 Jan, 06:23 AM Reply Like

Ted Bear Comments (420)

So now we understand more fully why their stock recommendations meet with selling: MSI has a bad position, better recommend the stock. Price goes up, MSI starts dumping. Lemmings left holding the bag....

8 Jan, 06:33 AM Reply Like

deercreekvols Comments (2921)

So the secret is out. Goldman Sachs is investing in stocks and bonds with a secret fund. The same stocks and bonds its analysts issue "upgrades" and "downgrades" on. It is not like GS has a stake in the game or anything.

Keep in mind they said "sell" NOK, while buying tens of millions of shares.

Something is rotten on Wall Street.

8 Jan, 07:32 AM Reply Like

ron284 Comments (193)

The squid grows a new appendage.

8 Jan, 07:37 AM Reply Like

divinecomedy Comments (428)

Bloomberg got it wrong. Of course there's a client. It's God. Doing God's work in this world requires a lot of hush hush work.

8 Jan, 07:44 AM Reply Like

Remyngton Comments (339)

This old news

This group is from early 2000's .

What's the secret , but shoddy , lazy reporting ??

8 Jan, 11:27 AM Reply Like

deercreekvols Comments (2921)

Old news?

CEO Blankfein said this past summer that GS was no longer involved in this. They are actively involved.

The only thing shoddy is a CEO who lies.

8 Jan, 03:12 PM Reply Like

moneyTalksBSWalks Comments (169)

What exactly is newsworthy about a Goldman exec lying?

11 Jan, 03:12 PM Reply Like

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