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Sources say Goldman Sachs (GS +5.1%) is definitely shutting down its Principal Strategies unit...

Sources say Goldman Sachs (GS +5.1%) is definitely shutting down its Principal Strategies unit in order to comply with new restrictions on proprietary trading - and the bank is holding off an announcement while several dozen members of the unit seek new jobs. (JPM prop-trading shutdown)
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Comments (2)
  • Harry Tuttle
    , contributor
    Comments (2221) | Send Message
     
    So the rest of the bank does not engage in "proprietary" trading?
    3 Sep 2010, 02:24 PM Reply Like
  • Eaglesnest
    , contributor
    Comments (19) | Send Message
     
    Hi All:
    It´s a nice news... i´m just curious about what will be Mr. Market reaction on Tuesday about that news.
    In my humble opinion, it´s time to change to my favorite strategy..
    Buy & Hold Long.
    Artificial liquidity is working only for that Banks that use "proprietary trading", not for retail investors..
    elnidodelaguila.com
    5 Sep 2010, 04:41 AM Reply Like
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