User 305589

Michael Mauer Leaves Citi for Icahn

sorry, it should read: at about 25-30% BELOW book value currently, the stock looks compelling


On May 14 12:37 PM User 305589 wrote:

> of course, icahn had his fair share in doing dumb things. Buying
> a soon-to-be bankrupt homebuilder near the top of the market (luckily,
> mgmt of the company was even dumber and rejected the offer or else
> icahn would have paid more than 6 times the amount he finally spent).
> Motorola, yahoo. I doubt that any of these three will ever really
> come back. that being said, his overall track record remains excellent
> and at about 25-30% of book value the stock looks compelling

Michael Mauer Leaves Citi for Icahn

of course, icahn had his fair share in doing dumb things. Buying a soon-to-be bankrupt homebuilder near the top of the market (luckily, mgmt of the company was even dumber and rejected the offer or else icahn would have paid more than 6 times the amount he finally spent). Motorola, yahoo. I doubt that any of these three will ever really come back. that being said, his overall track record remains excellent and at about 25-30% of book value the stock looks compelling

Goldman Sachs Busy Editing Conviction Buy and Sell Lists

These hectic changes to their buy- and sell-lists are exactly what you would expect from GS which has already played a quite dubious role in the market meltdown as well as in its recent melt-up. You would have to be very naive if you thought that their trading desk hasn't positioned itself ahead of publishing these changes to take full advantage of the herd's reactions. I wouldn't be surprised at all when most of their additions to the buy list were stocks their trading desk has accumulated over the past week and is only too eager to sell now at higher prices. Likewise, the new conviction sells may well consist of stocks that GS has shorted and would like to cover at lower prices.
beware following Goldman's advice. GS makes money from its clients - not for its clients and their market calls are not to serve you or me but to only serve the folks at GS.