These Are My Prayers And They Are With You
I've got some things to tend to and will be gone for the remainder of the morning, meaning I'm going to miss Goldman Sachs's earnings announcement. You know how this pains me. I'll be back eventually this afternoon, but it won't be the same, so I'm going to put in my two cents now. Personally, I don't even think Carney will need to add anything to this even after the numbers are out, but that's his prerogative.
[Update: Okay, this is Carney now. And, strangely enough, Bess is right. Earnings are out now and I have nothing to add. Ha. Imagine that! Of course I have something to add, something so stunningly insightful that I expect that market to lurch up out of its seat and applaud. You see, this guy, Mr. Value Stock Tip, got things totally wrong. He's talking at a time when Goldman was trading at 11 times trailing earnings and he thinks it's going up to 14 times earnings. But it's gone the opposite way. It's now at something like seven times earnings. Why? Well, because nearly ever other Wall Street institution has fared so poorly people are still spooked about even outperforming Goldman. Call it Stan O'Neal's revenge. You can keep raking it in Goldman, but the ghost of Stan O'Neal will still be there holding down your market cap. Lol O'Neal: Ize still in ur market capz, holdin down ur earninz. Incidentally, Goldman is as surprised as you are that they trade at such low multiples, which is why they keep buying back their own stock.]
Comments
hahah
Posted by: post this every day? | December 18, 2007 08:06 AM
you are so silly, bess.
Posted by: Anonymous | December 18, 2007 08:45 AM
I'm very impressed by the productivity today.
Posted by: J$ | December 18, 2007 08:51 AM
I keep wondering how Dealbreaker traveled to the future and got this footage of Tim Sykes
Posted by: Random Banker | December 18, 2007 08:59 AM
@ RB - oh how the mighty have fallen! I like how "future Timmayyy" (as he will henceforth be called) throws in the "Now I know that a $200 (or in his parlance, 20,000 penny) stock might seem a little expensive..."
Priceless.
Posted by: Anal_yst | December 18, 2007 09:02 AM
RB- that is an INSULT to this guy, who is awesome.
Posted by: love this guy | December 18, 2007 09:04 AM
i've watched this 9 times (3 each time it's been posted), and i have to say, it gets better with each viewing.
Posted by: Anonymous | December 18, 2007 09:07 AM
do you think this guy likes Krispy Kreme too?
Posted by: KKD | December 18, 2007 09:28 AM
"I can make anyone rich in two weeks, as long as you:
1. Have a brokerage account
2. Have some money
3. Subscribe to my newsletter
Awesome. I love the duct taped boxes in the background and the Polo shirt that has no doubt been the landing pad for numerous food items that never made it into that fat mouth.
Posted by: Cayne's roach clip | December 18, 2007 09:35 AM
Good grief, Carney is all cracked-out too this morning.
Posted by: Anonymous | December 18, 2007 09:37 AM
The next stock I want to talk to you about is Google. Now I know at $300 a share this stock seems expensive, but I think this company is really going places.
Posted by: JMAN | December 18, 2007 09:47 AM
Carney:
Not only did this ass clown get that wrong, he suggests valuing brokerages on a price / sales multiple. This isn't a retailer, there's no such thing as sales, its completely ridiculous. Then he says Goldman should be valued like a commercial bank and its p/e should expand accordingly... well ok.... except you know, for that whole volatility of earnings issue and fundamentally different business models.
About the only thing this guy gets right is the ticker.
P.S. I assume you got my note, yesterday
Posted by: Random Banker | December 18, 2007 10:06 AM
RB: fuck you man, this dude's awesome.
Posted by: better than sykes | December 18, 2007 10:08 AM
Can we address what BL will be "tending to" for the "remainder of the morning"??
Posted by: Anonymous | December 18, 2007 10:34 AM
@RB: William Hester at the Hussman Funds disagrees with you regarding the relevance of price/sales ratio to financials -
http://hussmanfunds.com/rsi/psratio.htm
Posted by: jag | December 18, 2007 10:36 AM
Just to clarify: "sales" == revenue, and it doesn't just apply to retailers, dipshit.
Posted by: jag | December 18, 2007 10:40 AM
jag it doesnt look like he is saying it is relevant to financials at all
Posted by: Anonymous | December 18, 2007 10:41 AM
10:34 - aborting Tim Sykes baby.
Posted by: couldn't resist. | December 18, 2007 10:42 AM
10:34- my cock
Posted by: i thought it was funny | December 18, 2007 10:44 AM
boy-cock girl-cock e-i-e-i-o
Posted by: Anonymous | December 18, 2007 11:02 AM
Jag:
Don't be a Moron. The issues is how recurring the revenue stream is.
Do really think I don't know Sale and Revenue are the same thing? Read the McKinsey Valuation book there's a few good chapters in their on FIG valuation, you could use it.
Posted by: Random Banker | December 18, 2007 11:04 AM
carney OR nobody believes goldman will be able to repeat $6 billion in gains from bets against subprime in 2008, and earnings will come down. just a thought
Posted by: Anonymous | December 18, 2007 11:06 AM
11:02 that ep wasn't the best
Posted by: Anonymous | December 18, 2007 11:09 AM
ya'll are starting to sound like our 'Chris Farley wannabe' friend.
Posted by: Anonymous | December 18, 2007 11:12 AM
Sales and Revenue are definitely not the same thing for FIG
and most especially definitely not for a BD like goldman!
Posted by: Anonymous | December 18, 2007 11:17 AM
"Lol O'Neal: Ize Still In Yur Market Capz, Holdin Down Yur Earninz."
does anyone else not find it racist that when it comes time to put in dialogue or anything dealing with Stan O'neill, there is always a presence of ebonics or some other stereotypical, racist bullshit
that is fucked up
come on carney, bess...
Posted by: pissed of trader | December 18, 2007 12:09 PM
carney wrote that, not bess.
Posted by: Anonymous | December 18, 2007 12:12 PM
Oh, come on, p.o.t. Never heard of LOLCats? Really? Dude, you should check out the internet. It's amazing the stuff they have on there these days.
Posted by: John Carney | December 18, 2007 12:17 PM
Don't worry Carney...some of us realize that teh internets is more than a series of tubes.
Posted by: Ramblin' Wreck | December 18, 2007 12:43 PM
i can haz cheeseburger with bonuz now?
Posted by: lol this | December 18, 2007 01:10 PM