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2008-09-25 — boombustblog.com
``I was one of those hedgie-type guys who were shorting the Goldman stock. Why was I doing it? Was it because I was unpatriotic? Was I a shark out for blood? Out to destroy the very financial fabric of America? I'll tell you why I did it (and quite profitably, may I add, see the notes and links at the bottom of this article). I did it becaue Goldman takes a lot of excessive risk in relation to their profits in an environment that is fraught with peril, while carrying a lot of immovable trash on their balance sheet, as they sport the highest price and valuation on all of Wall Street, despite hiring the same people as their competitors (what's left of 'em) who went to the same schools to learn the same trading methods to move the same products. ''
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