View Full Version : Remember way back when Goldman said it was time to SHORT gold?

10-31-2014, 12:26 PM
Man, don't you wish you had listened to them back on April 10, 2013?

$1,585 an ounce it was before their call.

It's now $1,163.

What's a $400 move in gold on 1 future's contact worth? $40,000.

$40,000 in a little over a year on only one contract.

Wonder how many contracts Goldman shorted... :lol: :lol: :lol:

10-31-2014, 12:31 PM
Here is their call from back then:


In October 2013, they double downed and called it a SLAM DUNK SELL...with a price target of $1,050 an ounce "by next year."


Only another $100 to go...

10-31-2014, 02:15 PM
The problem is figuring out, at the time of the call, if they are going to right.

Their oil analyst, Jeff Currie made a call last year for Brent Crude to hit $150/barrel by 2015. He stuck with that call all the way through this week when he bravely changed it to $75.

Calling markets is a tough business. I'm sure Mr. Currie didn't get where he is by being dumb. But if a guy like him at a firm like Goldman can be so wrong on a major market, how much trust do you want to put in their predictive powers?

On the equity side, I often like seeing a lot of sell recommendations from analysts. That can be an initial filter for locating a stock the market is undervaluing. You rarely find value when everyone is telling you it's a buy.

10-31-2014, 07:40 PM
My best performing stock since that date has been Gilead. I'd be perfectly content to hold it for the rest of my life.