What happened to GS? ....they are recently nothing but a market manipulator/speculator. They were supposed to be the smartest guys on earth...
This summer they said crude would go $200 when it was traded at $140's. Recently, they said that oil would be $45 and could go down to $30's in short term.
At the same time, GS has been publishing doom and groom reports only. They have been downgrading stocks very aggressively....coming out with big name downgrades on a daily basis....CAT, T, FLR, and AAPL today.
Even GS alumni Jim Cramer said that GS is not making money so they are just shuffling paper from here and there. If they were making money, they would not be making these calls....
They added AAPL on their conviction buy list in last May when AAPL was above $180. They had to wait till today to downgrade AAPL for such sorry reasons like 1) macro impact, and 2) no new products expected for the MacWorld?
Based on my observation, GS and MS have been working together. GS's call on the crude price was quickly followed by MS last summer. I recommend them to merge....reduce useless analysts and stop redundancy.
Here's what another Goldman that I admire said about the downgrade:
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