Goldman Sach's Advice To Clients This Year Has Been Horrendous. Maybe Goldman Clients Should Replace Advice With Much More Lucrative Coin-Flipping.
We said this dynamic would develop as the future became one in which Wall Street could not manipulate the game to win. Now it comes down to pure skill and ability. Now we see Goldman's productive predictive ability when it isn't rigging markets is about 25%. Clients would have substantially higher odds of success by flipping a coin. The only way Goldman Sachs, and for that matter all Wall Street firms, are making any money right now is in rigged markets and by killing the economy through the mergers and acquisitions business.
Informed individuals can always beat big firm returns in the long run. They don't need to make big bets about the future but rather take what comes to them. I don't care how many PhD's Goldman has working for them. Big bets are never, ever, ever successful over the long haul. The drawdowns are simply unsustainable. As it is with all of Wall Street. That is why we have tens of trillions of dollars backing the incompetence of these timeless fools. Big bets across the board failed. Everything Wall Street has touched turned to stone.
Take away rigged markets and where is Wall Street's brilliance? I'll tell you where it is. It's in the minds and hands of the American people. All of Wall Street's capital came from the most productive capital generator in the world. That is, the American entrepreneur and the American worker. It's no coincidence Wall Street is failing. They convinced themselves, politicians and most of society of the most foolish notion imaginable. That is, that they are brilliant. Brilliance is in the mind of a society that embraces free thought, free association, freedom of expression and economic self-determination. It is the embracing of a free individual's ability within the framework of the greater good for We the People. Slaving away in an office job, especially in a bank, is seldom any of these. And Wall Street has clearly shown its utter and complete incompetence by not understanding this timeless fact. By believing they were indeed masters of the universe. When all they really are is a tax on society's capital.
Link here.
Informed individuals can always beat big firm returns in the long run. They don't need to make big bets about the future but rather take what comes to them. I don't care how many PhD's Goldman has working for them. Big bets are never, ever, ever successful over the long haul. The drawdowns are simply unsustainable. As it is with all of Wall Street. That is why we have tens of trillions of dollars backing the incompetence of these timeless fools. Big bets across the board failed. Everything Wall Street has touched turned to stone.
Take away rigged markets and where is Wall Street's brilliance? I'll tell you where it is. It's in the minds and hands of the American people. All of Wall Street's capital came from the most productive capital generator in the world. That is, the American entrepreneur and the American worker. It's no coincidence Wall Street is failing. They convinced themselves, politicians and most of society of the most foolish notion imaginable. That is, that they are brilliant. Brilliance is in the mind of a society that embraces free thought, free association, freedom of expression and economic self-determination. It is the embracing of a free individual's ability within the framework of the greater good for We the People. Slaving away in an office job, especially in a bank, is seldom any of these. And Wall Street has clearly shown its utter and complete incompetence by not understanding this timeless fact. By believing they were indeed masters of the universe. When all they really are is a tax on society's capital.
Link here.
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