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bdc63
Schumpeter Reincarnate


Joined: 16 Feb 2007
Posts: 4392
Location: Maryland

Goldman to hold unscheduled conference call today
PostPosted: Mon Aug 13, 2007 1:31 am Reply with quoteBack to top

Goldman has told the WSJ that they will be issuing a statement this morning, followed by an unscheduled conference call.

The bad news seems to have already come out about Goldman?s Global Alpha fund -- down 26 per cent for 2007, and it's Global Equity Opportunities Fund down 13.9 per cent in the year ended July 31.

CNBC is predicting that the call will be upbeat ... something like "the worst is behind us, now let's more on" ...

Really now. Well we've been lied to all along, so I guess why should this morning be any different?

_________________
"Socialism only works in two places: Heaven where they don't need it and h*ll where they already have it." -- Ronald Reagan
"Everybody, sooner or later, sits down to a banquet of consequences." -- Robert Louis Stevenson
“Gold is money. Everything else is credit.” -J.P. Morgan, testifying to Congress in 1912
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bdc63
Schumpeter Reincarnate


Joined: 16 Feb 2007
Posts: 4392
Location: Maryland

Re: Goldman to hold unscheduled conference call today
PostPosted: Mon Aug 13, 2007 12:07 pm Reply with quoteBack to top

Here's the press release ... conference call before the bell ...

Goldman, others investing $3 bln in hedge fund
Mon Aug 13, 2007 12:47 PM BST
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NEW YORK, Aug 13 (Reuters) - Investment bank Goldman Sachs Group Inc. (GS.N: Quote, Profile , Research) said on Monday it and outside investors would pour $3 billion of new capital into Goldman's Global Equity Opportunities fund, a long-short quantitative hedge fund hurt by recent market volatility.

In addition to Goldman, investors will include C.V. Starr & Co. Inc., Perry Capital LLC and Eli Broad. Goldman, which said the fund had a net asset value of $3.6 billion before the new capital, said existing fund investors can also add new money to the fund. (Reporting by Joseph Giannone)

_________________
"Socialism only works in two places: Heaven where they don't need it and h*ll where they already have it." -- Ronald Reagan
"Everybody, sooner or later, sits down to a banquet of consequences." -- Robert Louis Stevenson
“Gold is money. Everything else is credit.” -J.P. Morgan, testifying to Congress in 1912
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