The quarterly loss, equivalent to about $5 a share, will be Goldman’s first ever as a public company, as it faces writedowns on everything from private equity to commercial real estate, the paper said.
Analysts on average are expecting a loss of $1.27 a share, excluding items, for the quarter ended November 28, according to Reuters Estimates.
I advised shorting Goldman at $97. It closed at $65.76 yesterday. Let’s see how far it drops this morning.
I hate to say this because I own it, but I believe JP Morgan Chase is next and will certainly go below $20.