Goldman Has "Aggressively" And Quietly Liquidated A Quarter Of Its Equity Investments_老虎社区_美港股上老虎

Goldman Has "Aggressively" And Quietly Liquidated A Quarter Of Its Equity Investments

zerohedge2021-07-14

While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore... ... ...

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247

ECA
·2021-07-14
Hmmmm
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Sumei
·2021-07-14
Sounds like GS was preparing for a correction in the market. So they sold a big part of their holdings in Q2 likely prior to the correction. Would this mean that they are looking to pick up if and when the next correction takes place? The market as it is seems to be heading for a high towards earnings season. Or has that already been factored in and a huge catalyst is needed for the next big bump up?
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cuteypie
·2021-07-14
Wolves of Wall Street
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1
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Yangie
·2021-07-14
Must buy
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- YPT:
  Which
  2021-07-14
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WayneSing
·2021-07-14
good read… consider investing now
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richcat
·2021-07-14
👍🏻
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2
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zero79
·2021-07-14
Power
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Valerie0214
·2021-07-14
Your thoughts?
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- Desmondsim:
  None
  2021-07-14
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- erichosk:
  something is brewing.
  2021-07-14
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jjing
·2021-07-14
[微笑]
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2
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NeedMoneyPls
·2021-07-14
If you are reading this comment, buy AMC
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6
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- Yyyyyyyjjjjj:
  Ok
  2021-07-14
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- Btyc:
  👍🏻
  2021-07-14
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YCGan
·2021-07-14
👍
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3
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- Jems:
  ok
  2021-07-14
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Deonc
·2021-07-14
Please like and comment.
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5
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- ckww:
  Sure
  2021-07-14
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- Deonc:
  thanks
  2021-07-14
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- Eddieash回复Deonc:
  wohoo
  2021-07-14
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JPTL
·2021-07-14
👍
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2
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trojan1337
·2021-07-14
Like and reply pls
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2
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- JPTL:
  ok
  2021-07-14
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- lyj893:
  Ok
  2021-07-14
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老Uncle
·2021-07-14
oh well. i have also dumped practically all mine too. of course im just such a tiny tiny tiny fish to be noticed 😁😁😁
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ValuInvestor
·2021-07-14
Time to be cautious
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Hopehope赋予希望
·2021-07-14
So u will see what they will do. They will just keep coming out with bear reports to influence the markets
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- Champion365:
  👍
  2021-07-14
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- Bentofighter:
  Yup
  2021-07-14
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- hxongg:
  [呆住]
  2021-07-14
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robot1234
·2021-07-14
Wow, Goldman Sachs stated 2021 with a $20BN equity portfolio. Afte enjoying a $5BN increase in market prices, Goldman has aggressively dumped a whopping $5.5 billion of its equity assets so far (excluding a modest $1.5BN in purchases). A distribution mostly to retail investors. With US consumer prices increased 5.4% in June from a year earlier, the biggest monthly gain since August 2008, better to be cautious and adopt defensive play, and to have sufficient reserves.
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- Takiho:
  Caution on the overall market, still bull on tech stock.
  Like n comment
  2021-07-14
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Alvinwong
·2021-07-14
Nice
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DQ6
·2021-07-14
Bankers are scum bag.
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- Dave123:
  😄
  2021-07-14
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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-14 11:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...\n\n... ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GS","symbol_name":"高盛","start_time":0,"source_url":"https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments","article_id":"1133459947","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1133459947","pubTimestamp":1626232908,"sourceInfo":null,"weMediaInfo":null,"summary":"While most analysts and traders were digging through Goldman's investment banking and trading result","collect":0,"end_time":0,"defaultTopTitle":"zerohedge.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"GS":"高盛"},"translate_title":"高盛“大刀阔斧”地悄悄地清算了四分之一的股票投资","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GS":0.9},"content_text":"While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...\n\n... when the bank reported itssecond best quarter on record, there was some more notable slide in the bank'sQ2 earnings presentation, and it had to do with what Goldman is doing for its own prop, or \"asset management\" book.\nAs shown in the table below, Goldman's Asset Management (F/K/A \"prop\") also had a stellar quarter, generating a record $5.1BN in net revenue, more than double the year ago quarter.\nIn explaining the group's stellar performance, Goldman writes that \"equity investments produced record net revenues, with the YoY increase primarily driven by significantly higher net gains from investments in private equities, driven by company-specific events, including capital raises and sales, and improved corporate performance versus a challenging 2Q20.\"\nThe bank then breaks down the asset mix of its prop traders, which as of Q2 had some $21 billion in equity investments spread across various sectors, vintages and geographies (mostly the US).\n\nWhich brings us to the punchline: a chart showing what Goldmanhad donewith its equity investments in 2021. Here the bank pulls no punches, making it clear in the title that it has been busy \"harvesting\" its balance sheet equity portfolio. Which, of course, is another word for selling.\nWhat is even more remarkable is just how much Goldman has harvested so far in 2021: as shown below, having started with a $20BN equity portfolio which has enjoyed a $5BN increase in market prices,Goldman dumped a whopping $5.5 billion of its equity assets so far (excluding a modest $1.5BN in purchases) or more than a quarter of its entire portfolio as of Dec 31.\n\nWho is Goldman selling to? Anyone who will buy, but here we would wager thatretail investors - who have been on tilt buying in 2021 - have been the proud recipients of billions in Goldman sales.This, in the financial literature is called the \"distribution phase.\"\nThe sales were so extensive that the topic was brought up on Goldman's earnings call earlier today. In response to a question about Goldman's efforts to reduce its equity investment portfolio, the bank said that it it has \"made progress on improving its capital efficiency and is moving 'aggressively' to manage equity positions, especially since the environment is supportive.\"\nWhat does that mean in English? Simple: Goldman is \"aggressively\" dumping its positions in an environment that is \"supportive\", i.e., in which the dumb money is providing a constant bid into which whales such as Goldman can sell.\nThe last time Goldman was \"aggressively\" selling into a \"supportive\" market? Well, we have to go back all the way to 2007 and 2008 when Goldman was busy creating the very CDOs which its prop desk would then \"aggressively\" short. We all remember how prophetic that particular move turned out to be...\nRelated:\n\nGoldman Sachs: Q2 GAAP EPS of $15.02beats by $5.07.\nRevenue of $15.39B (+15.7% Y/Y)beats by $3.22B.\nReversal of credit losses of $92M.\nOn July 12, 2021, the Board of Directors of The Goldman Sachs Group, Inc. approved a 60% increase in the quarterly dividend to $2.00 per common share beginning in the third quarter of 2021.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":144036128,"gmtCreate":1626252079664,"gmtModify":1633928620647,"author":{"id":"3583583162782511","authorId":"3583583162782511","name":"ECA","avatar":"https://static.tigerbbs.com/718eae234a49daca134efd37f092acb0","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3583583162782511","idStr":"3583583162782511"},"htmlText":"Hmmmm","listText":"Hmmmm","text":"Hmmmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/144036128","repostId":1133459947,"repostType":4,"repost":{"id":"1133459947","pubTimestamp":1626232908,"share":"https://www.laohu8.com/m/news/1133459947?lang=&edition=full","pubTime":"2021-07-14 11:21","market":"us","language":"en","title":"Goldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments","url":"https://stock-news.laohu8.com/highlight/detail?id=1133459947","media":"zerohedge","summary":"While most analysts and traders were digging through Goldman's investment banking and trading result","content":"<p>While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...</p>\n<p><img src=\"https://static.tigerbbs.com/dd07fc077dd10720c94c622b49d99141\" tg-width=\"1280\" tg-height=\"706\" referrerpolicy=\"no-referrer\"></p>\n<p>... when the bank reported itssecond best quarter on record, there was some more notable slide in the bank'sQ2 earnings presentation, and it had to do with what Goldman is doing for its own prop, or \"asset management\" book.</p>\n<p>As shown in the table below, Goldman's Asset Management (F/K/A \"prop\") also had a stellar quarter, generating a record $5.1BN in net revenue, more than double the year ago quarter.</p>\n<p><img src=\"https://static.tigerbbs.com/8d7dcf11b10007ddc07352220768e105\" tg-width=\"771\" tg-height=\"434\" referrerpolicy=\"no-referrer\">In explaining the group's stellar performance, Goldman writes that \"equity investments produced record net revenues, with the YoY increase primarily driven by significantly higher net gains from investments in private equities, driven by company-specific events, including capital raises and sales, and improved corporate performance versus a challenging 2Q20.\"</p>\n<p>The bank then breaks down the asset mix of its prop traders, which as of Q2 had some $21 billion in equity investments spread across various sectors, vintages and geographies (mostly the US).</p>\n<p><img src=\"https://static.tigerbbs.com/3a2d4089fcfd78f1b6d025823c88d24d\" tg-width=\"1280\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p>\n<p>Which brings us to the punchline: a chart showing what Goldman<i>had done</i>with its equity investments in 2021. Here the bank pulls no punches, making it clear in the title that it has been busy \"<i><b>harvesting</b></i>\" its balance sheet equity portfolio. Which, of course, is another word for selling.</p>\n<p>What is even more remarkable is just how much Goldman has harvested so far in 2021: as shown below, having started with a $20BN equity portfolio which has enjoyed a $5BN increase in market prices,<b>Goldman dumped a whopping $5.5 billion of its equity assets so far (excluding a modest $1.5BN in purchases) or more than a quarter of its entire portfolio as of Dec 31.</b></p>\n<p><img src=\"https://static.tigerbbs.com/93df1ef5d7169b1d81a0042eac5f2af6\" tg-width=\"1280\" tg-height=\"704\" referrerpolicy=\"no-referrer\"></p>\n<p>Who is Goldman selling to? Anyone who will buy, but here we would wager that<b>retail investors - who have been on tilt buying in 2021 - have been the proud recipients of billions in Goldman sales.</b>This, in the financial literature is called the \"<b>distribution phase.</b>\"</p>\n<p>The sales were so extensive that the topic was brought up on Goldman's earnings call earlier today. In response to a question about Goldman's efforts to reduce its equity investment portfolio, the bank said that it it has \"<b>made progress on improving its capital efficiency and is moving 'aggressively' to manage equity positions, especially since the environment is supportive.\"</b></p>\n<p>What does that mean in English? Simple: Goldman is \"aggressively\" dumping its positions in an environment that is \"supportive\", i.e., in which the dumb money is providing a constant bid into which whales such as Goldman can sell.</p>\n<p>The last time Goldman was \"aggressively\" selling into a \"supportive\" market? Well, we have to go back all the way to 2007 and 2008 when Goldman was busy creating the very CDOs which its prop desk would then \"aggressively\" short. We all remember how prophetic that particular move turned out to be...</p>\n<p><b>Related:</b></p>\n<ul>\n <li>Goldman Sachs:&nbsp;Q2 GAAP EPS of $15.02beats by $5.07.</li>\n <li>Revenue of $15.39B (+15.7% Y/Y)beats by $3.22B.</li>\n <li>Reversal of credit losses of $92M.</li>\n <li>On July 12, 2021, the Board of Directors of The Goldman Sachs Group, Inc. approved a 60% increase in the quarterly dividend to $2.00 per common share beginning in the third quarter of 2021.</li>\n</ul>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-14 11:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...\n\n... ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1133459947","content_text":"While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...\n\n... when the bank reported itssecond best quarter on record, there was some more notable slide in the bank'sQ2 earnings presentation, and it had to do with what Goldman is doing for its own prop, or \"asset management\" book.\nAs shown in the table below, Goldman's Asset Management (F/K/A \"prop\") also had a stellar quarter, generating a record $5.1BN in net revenue, more than double the year ago quarter.\nIn explaining the group's stellar performance, Goldman writes that \"equity investments produced record net revenues, with the YoY increase primarily driven by significantly higher net gains from investments in private equities, driven by company-specific events, including capital raises and sales, and improved corporate performance versus a challenging 2Q20.\"\nThe bank then breaks down the asset mix of its prop traders, which as of Q2 had some $21 billion in equity investments spread across various sectors, vintages and geographies (mostly the US).\n\nWhich brings us to the punchline: a chart showing what Goldmanhad donewith its equity investments in 2021. Here the bank pulls no punches, making it clear in the title that it has been busy \"harvesting\" its balance sheet equity portfolio. Which, of course, is another word for selling.\nWhat is even more remarkable is just how much Goldman has harvested so far in 2021: as shown below, having started with a $20BN equity portfolio which has enjoyed a $5BN increase in market prices,Goldman dumped a whopping $5.5 billion of its equity assets so far (excluding a modest $1.5BN in purchases) or more than a quarter of its entire portfolio as of Dec 31.\n\nWho is Goldman selling to? Anyone who will buy, but here we would wager thatretail investors - who have been on tilt buying in 2021 - have been the proud recipients of billions in Goldman sales.This, in the financial literature is called the \"distribution phase.\"\nThe sales were so extensive that the topic was brought up on Goldman's earnings call earlier today. In response to a question about Goldman's efforts to reduce its equity investment portfolio, the bank said that it it has \"made progress on improving its capital efficiency and is moving 'aggressively' to manage equity positions, especially since the environment is supportive.\"\nWhat does that mean in English? Simple: Goldman is \"aggressively\" dumping its positions in an environment that is \"supportive\", i.e., in which the dumb money is providing a constant bid into which whales such as Goldman can sell.\nThe last time Goldman was \"aggressively\" selling into a \"supportive\" market? Well, we have to go back all the way to 2007 and 2008 when Goldman was busy creating the very CDOs which its prop desk would then \"aggressively\" short. We all remember how prophetic that particular move turned out to be...\nRelated:\n\nGoldman Sachs: Q2 GAAP EPS of $15.02beats by $5.07.\nRevenue of $15.39B (+15.7% Y/Y)beats by $3.22B.\nReversal of credit losses of $92M.\nOn July 12, 2021, the Board of Directors of The Goldman Sachs Group, Inc. approved a 60% increase in the quarterly dividend to $2.00 per common share beginning in the third quarter of 2021.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":145726739,"gmtCreate":1626247938221,"gmtModify":1631884231580,"author":{"id":"3566259831309087","authorId":"3566259831309087","name":"Sumei","avatar":"https://static.tigerbbs.com/ae0a2af1baf6b07a87ffdf41ea17959a","vip":1,"crmLevel":6,"crmLevelSwitch":0,"authorIdStr":"3566259831309087","idStr":"3566259831309087"},"htmlText":"Sounds like GS was preparing for a correction in the market. So they sold a big part of their holdings in Q2 likely prior to the correction. Would&nbsp;this&nbsp;mean that they are looking to pick up if and when the next correction takes place?&nbsp;The market as it is seems to be heading for a high towards&nbsp;earnings season. Or&nbsp;has that already been factored in and a huge catalyst is needed for the next big bump up?&nbsp;","listText":"Sounds like GS was preparing for a correction in the market. So they sold a big part of their holdings in Q2 likely prior to the correction. Would&nbsp;this&nbsp;mean that they are looking to pick up if and when the next correction takes place?&nbsp;The market as it is seems to be heading for a high towards&nbsp;earnings season. Or&nbsp;has that already been factored in and a huge catalyst is needed for the next big bump up?&nbsp;","text":"Sounds like GS was preparing for a correction in the market. So they sold a big part of their holdings in Q2 likely prior to the correction. Would this mean that they are looking to pick up if and when the next correction takes place? The market as it is seems to be heading for a high towards earnings season. Or has that already been factored in and a huge catalyst is needed for the next big bump up?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/145726739","repostId":1133459947,"repostType":4,"repost":{"id":"1133459947","pubTimestamp":1626232908,"share":"https://www.laohu8.com/m/news/1133459947?lang=&edition=full","pubTime":"2021-07-14 11:21","market":"us","language":"en","title":"Goldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments","url":"https://stock-news.laohu8.com/highlight/detail?id=1133459947","media":"zerohedge","summary":"While most analysts and traders were digging through Goldman's investment banking and trading result","content":"<p>While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...</p>\n<p><img src=\"https://static.tigerbbs.com/dd07fc077dd10720c94c622b49d99141\" tg-width=\"1280\" tg-height=\"706\" referrerpolicy=\"no-referrer\"></p>\n<p>... when the bank reported itssecond best quarter on record, there was some more notable slide in the bank'sQ2 earnings presentation, and it had to do with what Goldman is doing for its own prop, or \"asset management\" book.</p>\n<p>As shown in the table below, Goldman's Asset Management (F/K/A \"prop\") also had a stellar quarter, generating a record $5.1BN in net revenue, more than double the year ago quarter.</p>\n<p><img src=\"https://static.tigerbbs.com/8d7dcf11b10007ddc07352220768e105\" tg-width=\"771\" tg-height=\"434\" referrerpolicy=\"no-referrer\">In explaining the group's stellar performance, Goldman writes that \"equity investments produced record net revenues, with the YoY increase primarily driven by significantly higher net gains from investments in private equities, driven by company-specific events, including capital raises and sales, and improved corporate performance versus a challenging 2Q20.\"</p>\n<p>The bank then breaks down the asset mix of its prop traders, which as of Q2 had some $21 billion in equity investments spread across various sectors, vintages and geographies (mostly the US).</p>\n<p><img src=\"https://static.tigerbbs.com/3a2d4089fcfd78f1b6d025823c88d24d\" tg-width=\"1280\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p>\n<p>Which brings us to the punchline: a chart showing what Goldman<i>had done</i>with its equity investments in 2021. Here the bank pulls no punches, making it clear in the title that it has been busy \"<i><b>harvesting</b></i>\" its balance sheet equity portfolio. Which, of course, is another word for selling.</p>\n<p>What is even more remarkable is just how much Goldman has harvested so far in 2021: as shown below, having started with a $20BN equity portfolio which has enjoyed a $5BN increase in market prices,<b>Goldman dumped a whopping $5.5 billion of its equity assets so far (excluding a modest $1.5BN in purchases) or more than a quarter of its entire portfolio as of Dec 31.</b></p>\n<p><img src=\"https://static.tigerbbs.com/93df1ef5d7169b1d81a0042eac5f2af6\" tg-width=\"1280\" tg-height=\"704\" referrerpolicy=\"no-referrer\"></p>\n<p>Who is Goldman selling to? Anyone who will buy, but here we would wager that<b>retail investors - who have been on tilt buying in 2021 - have been the proud recipients of billions in Goldman sales.</b>This, in the financial literature is called the \"<b>distribution phase.</b>\"</p>\n<p>The sales were so extensive that the topic was brought up on Goldman's earnings call earlier today. In response to a question about Goldman's efforts to reduce its equity investment portfolio, the bank said that it it has \"<b>made progress on improving its capital efficiency and is moving 'aggressively' to manage equity positions, especially since the environment is supportive.\"</b></p>\n<p>What does that mean in English? Simple: Goldman is \"aggressively\" dumping its positions in an environment that is \"supportive\", i.e., in which the dumb money is providing a constant bid into which whales such as Goldman can sell.</p>\n<p>The last time Goldman was \"aggressively\" selling into a \"supportive\" market? Well, we have to go back all the way to 2007 and 2008 when Goldman was busy creating the very CDOs which its prop desk would then \"aggressively\" short. We all remember how prophetic that particular move turned out to be...</p>\n<p><b>Related:</b></p>\n<ul>\n <li>Goldman Sachs:&nbsp;Q2 GAAP EPS of $15.02beats by $5.07.</li>\n <li>Revenue of $15.39B (+15.7% Y/Y)beats by $3.22B.</li>\n <li>Reversal of credit losses of $92M.</li>\n <li>On July 12, 2021, the Board of Directors of The Goldman Sachs Group, Inc. approved a 60% increase in the quarterly dividend to $2.00 per common share beginning in the third quarter of 2021.</li>\n</ul>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-14 11:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...\n\n... ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1133459947","content_text":"While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...\n\n... when the bank reported itssecond best quarter on record, there was some more notable slide in the bank'sQ2 earnings presentation, and it had to do with what Goldman is doing for its own prop, or \"asset management\" book.\nAs shown in the table below, Goldman's Asset Management (F/K/A \"prop\") also had a stellar quarter, generating a record $5.1BN in net revenue, more than double the year ago quarter.\nIn explaining the group's stellar performance, Goldman writes that \"equity investments produced record net revenues, with the YoY increase primarily driven by significantly higher net gains from investments in private equities, driven by company-specific events, including capital raises and sales, and improved corporate performance versus a challenging 2Q20.\"\nThe bank then breaks down the asset mix of its prop traders, which as of Q2 had some $21 billion in equity investments spread across various sectors, vintages and geographies (mostly the US).\n\nWhich brings us to the punchline: a chart showing what Goldmanhad donewith its equity investments in 2021. Here the bank pulls no punches, making it clear in the title that it has been busy \"harvesting\" its balance sheet equity portfolio. Which, of course, is another word for selling.\nWhat is even more remarkable is just how much Goldman has harvested so far in 2021: as shown below, having started with a $20BN equity portfolio which has enjoyed a $5BN increase in market prices,Goldman dumped a whopping $5.5 billion of its equity assets so far (excluding a modest $1.5BN in purchases) or more than a quarter of its entire portfolio as of Dec 31.\n\nWho is Goldman selling to? Anyone who will buy, but here we would wager thatretail investors - who have been on tilt buying in 2021 - have been the proud recipients of billions in Goldman sales.This, in the financial literature is called the \"distribution phase.\"\nThe sales were so extensive that the topic was brought up on Goldman's earnings call earlier today. In response to a question about Goldman's efforts to reduce its equity investment portfolio, the bank said that it it has \"made progress on improving its capital efficiency and is moving 'aggressively' to manage equity positions, especially since the environment is supportive.\"\nWhat does that mean in English? Simple: Goldman is \"aggressively\" dumping its positions in an environment that is \"supportive\", i.e., in which the dumb money is providing a constant bid into which whales such as Goldman can sell.\nThe last time Goldman was \"aggressively\" selling into a \"supportive\" market? Well, we have to go back all the way to 2007 and 2008 when Goldman was busy creating the very CDOs which its prop desk would then \"aggressively\" short. We all remember how prophetic that particular move turned out to be...\nRelated:\n\nGoldman Sachs: Q2 GAAP EPS of $15.02beats by $5.07.\nRevenue of $15.39B (+15.7% Y/Y)beats by $3.22B.\nReversal of credit losses of $92M.\nOn July 12, 2021, the Board of Directors of The Goldman Sachs Group, Inc. approved a 60% increase in the quarterly dividend to $2.00 per common share beginning in the third quarter of 2021.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":145716090,"gmtCreate":1626245235110,"gmtModify":1633928672537,"author":{"id":"3546519093286207","authorId":"3546519093286207","name":"cuteypie","avatar":"https://static.tigerbbs.com/324f57345522368552a82de3cf71ed5f","vip":1,"crmLevel":6,"crmLevelSwitch":0,"authorIdStr":"3546519093286207","idStr":"3546519093286207"},"htmlText":"Wolves of Wall Street&nbsp;","listText":"Wolves of Wall Street&nbsp;","text":"Wolves of Wall Street","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/145716090","repostId":1133459947,"repostType":4,"repost":{"id":"1133459947","pubTimestamp":1626232908,"share":"https://www.laohu8.com/m/news/1133459947?lang=&edition=full","pubTime":"2021-07-14 11:21","market":"us","language":"en","title":"Goldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments","url":"https://stock-news.laohu8.com/highlight/detail?id=1133459947","media":"zerohedge","summary":"While most analysts and traders were digging through Goldman's investment banking and trading result","content":"<p>While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...</p>\n<p><img src=\"https://static.tigerbbs.com/dd07fc077dd10720c94c622b49d99141\" tg-width=\"1280\" tg-height=\"706\" referrerpolicy=\"no-referrer\"></p>\n<p>... when the bank reported itssecond best quarter on record, there was some more notable slide in the bank'sQ2 earnings presentation, and it had to do with what Goldman is doing for its own prop, or \"asset management\" book.</p>\n<p>As shown in the table below, Goldman's Asset Management (F/K/A \"prop\") also had a stellar quarter, generating a record $5.1BN in net revenue, more than double the year ago quarter.</p>\n<p><img src=\"https://static.tigerbbs.com/8d7dcf11b10007ddc07352220768e105\" tg-width=\"771\" tg-height=\"434\" referrerpolicy=\"no-referrer\">In explaining the group's stellar performance, Goldman writes that \"equity investments produced record net revenues, with the YoY increase primarily driven by significantly higher net gains from investments in private equities, driven by company-specific events, including capital raises and sales, and improved corporate performance versus a challenging 2Q20.\"</p>\n<p>The bank then breaks down the asset mix of its prop traders, which as of Q2 had some $21 billion in equity investments spread across various sectors, vintages and geographies (mostly the US).</p>\n<p><img src=\"https://static.tigerbbs.com/3a2d4089fcfd78f1b6d025823c88d24d\" tg-width=\"1280\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p>\n<p>Which brings us to the punchline: a chart showing what Goldman<i>had done</i>with its equity investments in 2021. Here the bank pulls no punches, making it clear in the title that it has been busy \"<i><b>harvesting</b></i>\" its balance sheet equity portfolio. Which, of course, is another word for selling.</p>\n<p>What is even more remarkable is just how much Goldman has harvested so far in 2021: as shown below, having started with a $20BN equity portfolio which has enjoyed a $5BN increase in market prices,<b>Goldman dumped a whopping $5.5 billion of its equity assets so far (excluding a modest $1.5BN in purchases) or more than a quarter of its entire portfolio as of Dec 31.</b></p>\n<p><img src=\"https://static.tigerbbs.com/93df1ef5d7169b1d81a0042eac5f2af6\" tg-width=\"1280\" tg-height=\"704\" referrerpolicy=\"no-referrer\"></p>\n<p>Who is Goldman selling to? Anyone who will buy, but here we would wager that<b>retail investors - who have been on tilt buying in 2021 - have been the proud recipients of billions in Goldman sales.</b>This, in the financial literature is called the \"<b>distribution phase.</b>\"</p>\n<p>The sales were so extensive that the topic was brought up on Goldman's earnings call earlier today. In response to a question about Goldman's efforts to reduce its equity investment portfolio, the bank said that it it has \"<b>made progress on improving its capital efficiency and is moving 'aggressively' to manage equity positions, especially since the environment is supportive.\"</b></p>\n<p>What does that mean in English? Simple: Goldman is \"aggressively\" dumping its positions in an environment that is \"supportive\", i.e., in which the dumb money is providing a constant bid into which whales such as Goldman can sell.</p>\n<p>The last time Goldman was \"aggressively\" selling into a \"supportive\" market? Well, we have to go back all the way to 2007 and 2008 when Goldman was busy creating the very CDOs which its prop desk would then \"aggressively\" short. We all remember how prophetic that particular move turned out to be...</p>\n<p><b>Related:</b></p>\n<ul>\n <li>Goldman Sachs:&nbsp;Q2 GAAP EPS of $15.02beats by $5.07.</li>\n <li>Revenue of $15.39B (+15.7% Y/Y)beats by $3.22B.</li>\n <li>Reversal of credit losses of $92M.</li>\n <li>On July 12, 2021, the Board of Directors of The Goldman Sachs Group, Inc. approved a 60% increase in the quarterly dividend to $2.00 per common share beginning in the third quarter of 2021.</li>\n</ul>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-14 11:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...\n\n... ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1133459947","content_text":"While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...\n\n... when the bank reported itssecond best quarter on record, there was some more notable slide in the bank'sQ2 earnings presentation, and it had to do with what Goldman is doing for its own prop, or \"asset management\" book.\nAs shown in the table below, Goldman's Asset Management (F/K/A \"prop\") also had a stellar quarter, generating a record $5.1BN in net revenue, more than double the year ago quarter.\nIn explaining the group's stellar performance, Goldman writes that \"equity investments produced record net revenues, with the YoY increase primarily driven by significantly higher net gains from investments in private equities, driven by company-specific events, including capital raises and sales, and improved corporate performance versus a challenging 2Q20.\"\nThe bank then breaks down the asset mix of its prop traders, which as of Q2 had some $21 billion in equity investments spread across various sectors, vintages and geographies (mostly the US).\n\nWhich brings us to the punchline: a chart showing what Goldmanhad donewith its equity investments in 2021. Here the bank pulls no punches, making it clear in the title that it has been busy \"harvesting\" its balance sheet equity portfolio. Which, of course, is another word for selling.\nWhat is even more remarkable is just how much Goldman has harvested so far in 2021: as shown below, having started with a $20BN equity portfolio which has enjoyed a $5BN increase in market prices,Goldman dumped a whopping $5.5 billion of its equity assets so far (excluding a modest $1.5BN in purchases) or more than a quarter of its entire portfolio as of Dec 31.\n\nWho is Goldman selling to? Anyone who will buy, but here we would wager thatretail investors - who have been on tilt buying in 2021 - have been the proud recipients of billions in Goldman sales.This, in the financial literature is called the \"distribution phase.\"\nThe sales were so extensive that the topic was brought up on Goldman's earnings call earlier today. In response to a question about Goldman's efforts to reduce its equity investment portfolio, the bank said that it it has \"made progress on improving its capital efficiency and is moving 'aggressively' to manage equity positions, especially since the environment is supportive.\"\nWhat does that mean in English? Simple: Goldman is \"aggressively\" dumping its positions in an environment that is \"supportive\", i.e., in which the dumb money is providing a constant bid into which whales such as Goldman can sell.\nThe last time Goldman was \"aggressively\" selling into a \"supportive\" market? Well, we have to go back all the way to 2007 and 2008 when Goldman was busy creating the very CDOs which its prop desk would then \"aggressively\" short. We all remember how prophetic that particular move turned out to be...\nRelated:\n\nGoldman Sachs: Q2 GAAP EPS of $15.02beats by $5.07.\nRevenue of $15.39B (+15.7% Y/Y)beats by $3.22B.\nReversal of credit losses of $92M.\nOn July 12, 2021, the Board of Directors of The Goldman Sachs Group, Inc. approved a 60% increase in the quarterly dividend to $2.00 per common share beginning in the third quarter of 2021.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":145440964,"gmtCreate":1626240683658,"gmtModify":1631889717779,"author":{"id":"3582779426446979","authorId":"3582779426446979","name":"Yangie","avatar":"https://static.tigerbbs.com/7aa57400229f182eb5fabc5e93a856b8","vip":1,"crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"3582779426446979","idStr":"3582779426446979"},"htmlText":"Must buy","listText":"Must buy","text":"Must buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/145440964","repostId":1133459947,"repostType":4,"repost":{"id":"1133459947","pubTimestamp":1626232908,"share":"https://www.laohu8.com/m/news/1133459947?lang=&edition=full","pubTime":"2021-07-14 11:21","market":"us","language":"en","title":"Goldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments","url":"https://stock-news.laohu8.com/highlight/detail?id=1133459947","media":"zerohedge","summary":"While most analysts and traders were digging through Goldman's investment banking and trading result","content":"<p>While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...</p>\n<p><img src=\"https://static.tigerbbs.com/dd07fc077dd10720c94c622b49d99141\" tg-width=\"1280\" tg-height=\"706\" referrerpolicy=\"no-referrer\"></p>\n<p>... when the bank reported itssecond best quarter on record, there was some more notable slide in the bank'sQ2 earnings presentation, and it had to do with what Goldman is doing for its own prop, or \"asset management\" book.</p>\n<p>As shown in the table below, Goldman's Asset Management (F/K/A \"prop\") also had a stellar quarter, generating a record $5.1BN in net revenue, more than double the year ago quarter.</p>\n<p><img src=\"https://static.tigerbbs.com/8d7dcf11b10007ddc07352220768e105\" tg-width=\"771\" tg-height=\"434\" referrerpolicy=\"no-referrer\">In explaining the group's stellar performance, Goldman writes that \"equity investments produced record net revenues, with the YoY increase primarily driven by significantly higher net gains from investments in private equities, driven by company-specific events, including capital raises and sales, and improved corporate performance versus a challenging 2Q20.\"</p>\n<p>The bank then breaks down the asset mix of its prop traders, which as of Q2 had some $21 billion in equity investments spread across various sectors, vintages and geographies (mostly the US).</p>\n<p><img src=\"https://static.tigerbbs.com/3a2d4089fcfd78f1b6d025823c88d24d\" tg-width=\"1280\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p>\n<p>Which brings us to the punchline: a chart showing what Goldman<i>had done</i>with its equity investments in 2021. Here the bank pulls no punches, making it clear in the title that it has been busy \"<i><b>harvesting</b></i>\" its balance sheet equity portfolio. Which, of course, is another word for selling.</p>\n<p>What is even more remarkable is just how much Goldman has harvested so far in 2021: as shown below, having started with a $20BN equity portfolio which has enjoyed a $5BN increase in market prices,<b>Goldman dumped a whopping $5.5 billion of its equity assets so far (excluding a modest $1.5BN in purchases) or more than a quarter of its entire portfolio as of Dec 31.</b></p>\n<p><img src=\"https://static.tigerbbs.com/93df1ef5d7169b1d81a0042eac5f2af6\" tg-width=\"1280\" tg-height=\"704\" referrerpolicy=\"no-referrer\"></p>\n<p>Who is Goldman selling to? Anyone who will buy, but here we would wager that<b>retail investors - who have been on tilt buying in 2021 - have been the proud recipients of billions in Goldman sales.</b>This, in the financial literature is called the \"<b>distribution phase.</b>\"</p>\n<p>The sales were so extensive that the topic was brought up on Goldman's earnings call earlier today. In response to a question about Goldman's efforts to reduce its equity investment portfolio, the bank said that it it has \"<b>made progress on improving its capital efficiency and is moving 'aggressively' to manage equity positions, especially since the environment is supportive.\"</b></p>\n<p>What does that mean in English? Simple: Goldman is \"aggressively\" dumping its positions in an environment that is \"supportive\", i.e., in which the dumb money is providing a constant bid into which whales such as Goldman can sell.</p>\n<p>The last time Goldman was \"aggressively\" selling into a \"supportive\" market? Well, we have to go back all the way to 2007 and 2008 when Goldman was busy creating the very CDOs which its prop desk would then \"aggressively\" short. We all remember how prophetic that particular move turned out to be...</p>\n<p><b>Related:</b></p>\n<ul>\n <li>Goldman Sachs:&nbsp;Q2 GAAP EPS of $15.02beats by $5.07.</li>\n <li>Revenue of $15.39B (+15.7% Y/Y)beats by $3.22B.</li>\n <li>Reversal of credit losses of $92M.</li>\n <li>On July 12, 2021, the Board of Directors of The Goldman Sachs Group, Inc. approved a 60% increase in the quarterly dividend to $2.00 per common share beginning in the third quarter of 2021.</li>\n</ul>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-14 11:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...\n\n... ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1133459947","content_text":"While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...\n\n... when the bank reported itssecond best quarter on record, there was some more notable slide in the bank'sQ2 earnings presentation, and it had to do with what Goldman is doing for its own prop, or \"asset management\" book.\nAs shown in the table below, Goldman's Asset Management (F/K/A \"prop\") also had a stellar quarter, generating a record $5.1BN in net revenue, more than double the year ago quarter.\nIn explaining the group's stellar performance, Goldman writes that \"equity investments produced record net revenues, with the YoY increase primarily driven by significantly higher net gains from investments in private equities, driven by company-specific events, including capital raises and sales, and improved corporate performance versus a challenging 2Q20.\"\nThe bank then breaks down the asset mix of its prop traders, which as of Q2 had some $21 billion in equity investments spread across various sectors, vintages and geographies (mostly the US).\n\nWhich brings us to the punchline: a chart showing what Goldmanhad donewith its equity investments in 2021. Here the bank pulls no punches, making it clear in the title that it has been busy \"harvesting\" its balance sheet equity portfolio. Which, of course, is another word for selling.\nWhat is even more remarkable is just how much Goldman has harvested so far in 2021: as shown below, having started with a $20BN equity portfolio which has enjoyed a $5BN increase in market prices,Goldman dumped a whopping $5.5 billion of its equity assets so far (excluding a modest $1.5BN in purchases) or more than a quarter of its entire portfolio as of Dec 31.\n\nWho is Goldman selling to? Anyone who will buy, but here we would wager thatretail investors - who have been on tilt buying in 2021 - have been the proud recipients of billions in Goldman sales.This, in the financial literature is called the \"distribution phase.\"\nThe sales were so extensive that the topic was brought up on Goldman's earnings call earlier today. In response to a question about Goldman's efforts to reduce its equity investment portfolio, the bank said that it it has \"made progress on improving its capital efficiency and is moving 'aggressively' to manage equity positions, especially since the environment is supportive.\"\nWhat does that mean in English? Simple: Goldman is \"aggressively\" dumping its positions in an environment that is \"supportive\", i.e., in which the dumb money is providing a constant bid into which whales such as Goldman can sell.\nThe last time Goldman was \"aggressively\" selling into a \"supportive\" market? Well, we have to go back all the way to 2007 and 2008 when Goldman was busy creating the very CDOs which its prop desk would then \"aggressively\" short. We all remember how prophetic that particular move turned out to be...\nRelated:\n\nGoldman Sachs: Q2 GAAP EPS of $15.02beats by $5.07.\nRevenue of $15.39B (+15.7% Y/Y)beats by $3.22B.\nReversal of credit losses of $92M.\nOn July 12, 2021, the Board of Directors of The Goldman Sachs Group, Inc. approved a 60% increase in the quarterly dividend to $2.00 per common share beginning in the third quarter of 2021.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5214901,"gmtCreate":1626241107883,"gmtModify":1631889717779,"authorId":3579838075158745,"author":{"id":3579838075158745,"idStr":"3579838075158745","authorId":3579838075158745,"name":"YPT","avatar":"https://static.tigerbbs.com/10baea998b9915ab14ba326ad1c4a2a6","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":145440964,"type":1,"supId":0,"prevId":0,"content":"Which","text":"Which","html":"Which"}],"langContent":"EN"},{"id":145423845,"gmtCreate":1626239093087,"gmtModify":1633928714300,"author":{"id":"3584427442291849","authorId":"3584427442291849","name":"WayneSing","avatar":"https://static.tigerbbs.com/9ba5be2ddf8347d41eed59a863adfe57","vip":1,"crmLevel":3,"crmLevelSwitch":0,"authorIdStr":"3584427442291849","idStr":"3584427442291849"},"htmlText":"good read… consider investing now","listText":"good read… consider investing now","text":"good read… consider investing now","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/145423845","repostId":1133459947,"repostType":4,"repost":{"id":"1133459947","pubTimestamp":1626232908,"share":"https://www.laohu8.com/m/news/1133459947?lang=&edition=full","pubTime":"2021-07-14 11:21","market":"us","language":"en","title":"Goldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments","url":"https://stock-news.laohu8.com/highlight/detail?id=1133459947","media":"zerohedge","summary":"While most analysts and traders were digging through Goldman's investment banking and trading result","content":"<p>While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...</p>\n<p><img src=\"https://static.tigerbbs.com/dd07fc077dd10720c94c622b49d99141\" tg-width=\"1280\" tg-height=\"706\" referrerpolicy=\"no-referrer\"></p>\n<p>... when the bank reported itssecond best quarter on record, there was some more notable slide in the bank'sQ2 earnings presentation, and it had to do with what Goldman is doing for its own prop, or \"asset management\" book.</p>\n<p>As shown in the table below, Goldman's Asset Management (F/K/A \"prop\") also had a stellar quarter, generating a record $5.1BN in net revenue, more than double the year ago quarter.</p>\n<p><img src=\"https://static.tigerbbs.com/8d7dcf11b10007ddc07352220768e105\" tg-width=\"771\" tg-height=\"434\" referrerpolicy=\"no-referrer\">In explaining the group's stellar performance, Goldman writes that \"equity investments produced record net revenues, with the YoY increase primarily driven by significantly higher net gains from investments in private equities, driven by company-specific events, including capital raises and sales, and improved corporate performance versus a challenging 2Q20.\"</p>\n<p>The bank then breaks down the asset mix of its prop traders, which as of Q2 had some $21 billion in equity investments spread across various sectors, vintages and geographies (mostly the US).</p>\n<p><img src=\"https://static.tigerbbs.com/3a2d4089fcfd78f1b6d025823c88d24d\" tg-width=\"1280\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p>\n<p>Which brings us to the punchline: a chart showing what Goldman<i>had done</i>with its equity investments in 2021. Here the bank pulls no punches, making it clear in the title that it has been busy \"<i><b>harvesting</b></i>\" its balance sheet equity portfolio. Which, of course, is another word for selling.</p>\n<p>What is even more remarkable is just how much Goldman has harvested so far in 2021: as shown below, having started with a $20BN equity portfolio which has enjoyed a $5BN increase in market prices,<b>Goldman dumped a whopping $5.5 billion of its equity assets so far (excluding a modest $1.5BN in purchases) or more than a quarter of its entire portfolio as of Dec 31.</b></p>\n<p><img src=\"https://static.tigerbbs.com/93df1ef5d7169b1d81a0042eac5f2af6\" tg-width=\"1280\" tg-height=\"704\" referrerpolicy=\"no-referrer\"></p>\n<p>Who is Goldman selling to? Anyone who will buy, but here we would wager that<b>retail investors - who have been on tilt buying in 2021 - have been the proud recipients of billions in Goldman sales.</b>This, in the financial literature is called the \"<b>distribution phase.</b>\"</p>\n<p>The sales were so extensive that the topic was brought up on Goldman's earnings call earlier today. In response to a question about Goldman's efforts to reduce its equity investment portfolio, the bank said that it it has \"<b>made progress on improving its capital efficiency and is moving 'aggressively' to manage equity positions, especially since the environment is supportive.\"</b></p>\n<p>What does that mean in English? Simple: Goldman is \"aggressively\" dumping its positions in an environment that is \"supportive\", i.e., in which the dumb money is providing a constant bid into which whales such as Goldman can sell.</p>\n<p>The last time Goldman was \"aggressively\" selling into a \"supportive\" market? Well, we have to go back all the way to 2007 and 2008 when Goldman was busy creating the very CDOs which its prop desk would then \"aggressively\" short. We all remember how prophetic that particular move turned out to be...</p>\n<p><b>Related:</b></p>\n<ul>\n <li>Goldman Sachs:&nbsp;Q2 GAAP EPS of $15.02beats by $5.07.</li>\n <li>Revenue of $15.39B (+15.7% Y/Y)beats by $3.22B.</li>\n <li>Reversal of credit losses of $92M.</li>\n <li>On July 12, 2021, the Board of Directors of The Goldman Sachs Group, Inc. approved a 60% increase in the quarterly dividend to $2.00 per common share beginning in the third quarter of 2021.</li>\n</ul>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-14 11:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...\n\n... ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1133459947","content_text":"While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...\n\n... when the bank reported itssecond best quarter on record, there was some more notable slide in the bank'sQ2 earnings presentation, and it had to do with what Goldman is doing for its own prop, or \"asset management\" book.\nAs shown in the table below, Goldman's Asset Management (F/K/A \"prop\") also had a stellar quarter, generating a record $5.1BN in net revenue, more than double the year ago quarter.\nIn explaining the group's stellar performance, Goldman writes that \"equity investments produced record net revenues, with the YoY increase primarily driven by significantly higher net gains from investments in private equities, driven by company-specific events, including capital raises and sales, and improved corporate performance versus a challenging 2Q20.\"\nThe bank then breaks down the asset mix of its prop traders, which as of Q2 had some $21 billion in equity investments spread across various sectors, vintages and geographies (mostly the US).\n\nWhich brings us to the punchline: a chart showing what Goldmanhad donewith its equity investments in 2021. Here the bank pulls no punches, making it clear in the title that it has been busy \"harvesting\" its balance sheet equity portfolio. Which, of course, is another word for selling.\nWhat is even more remarkable is just how much Goldman has harvested so far in 2021: as shown below, having started with a $20BN equity portfolio which has enjoyed a $5BN increase in market prices,Goldman dumped a whopping $5.5 billion of its equity assets so far (excluding a modest $1.5BN in purchases) or more than a quarter of its entire portfolio as of Dec 31.\n\nWho is Goldman selling to? Anyone who will buy, but here we would wager thatretail investors - who have been on tilt buying in 2021 - have been the proud recipients of billions in Goldman sales.This, in the financial literature is called the \"distribution phase.\"\nThe sales were so extensive that the topic was brought up on Goldman's earnings call earlier today. In response to a question about Goldman's efforts to reduce its equity investment portfolio, the bank said that it it has \"made progress on improving its capital efficiency and is moving 'aggressively' to manage equity positions, especially since the environment is supportive.\"\nWhat does that mean in English? Simple: Goldman is \"aggressively\" dumping its positions in an environment that is \"supportive\", i.e., in which the dumb money is providing a constant bid into which whales such as Goldman can sell.\nThe last time Goldman was \"aggressively\" selling into a \"supportive\" market? Well, we have to go back all the way to 2007 and 2008 when Goldman was busy creating the very CDOs which its prop desk would then \"aggressively\" short. We all remember how prophetic that particular move turned out to be...\nRelated:\n\nGoldman Sachs: Q2 GAAP EPS of $15.02beats by $5.07.\nRevenue of $15.39B (+15.7% Y/Y)beats by $3.22B.\nReversal of credit losses of $92M.\nOn July 12, 2021, the Board of Directors of The Goldman Sachs Group, Inc. approved a 60% increase in the quarterly dividend to $2.00 per common share beginning in the third quarter of 2021.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":145429434,"gmtCreate":1626239069228,"gmtModify":1633928714784,"author":{"id":"4089010991436220","authorId":"4089010991436220","name":"richcat","avatar":"https://static.tigerbbs.com/68e4b3561331a0d9fe709291122e6cea","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"4089010991436220","idStr":"4089010991436220"},"htmlText":"👍🏻","listText":"👍🏻","text":"👍🏻","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/145429434","repostId":1133459947,"repostType":4,"repost":{"id":"1133459947","pubTimestamp":1626232908,"share":"https://www.laohu8.com/m/news/1133459947?lang=&edition=full","pubTime":"2021-07-14 11:21","market":"us","language":"en","title":"Goldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments","url":"https://stock-news.laohu8.com/highlight/detail?id=1133459947","media":"zerohedge","summary":"While most analysts and traders were digging through Goldman's investment banking and trading result","content":"<p>While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...</p>\n<p><img src=\"https://static.tigerbbs.com/dd07fc077dd10720c94c622b49d99141\" tg-width=\"1280\" tg-height=\"706\" referrerpolicy=\"no-referrer\"></p>\n<p>... when the bank reported itssecond best quarter on record, there was some more notable slide in the bank'sQ2 earnings presentation, and it had to do with what Goldman is doing for its own prop, or \"asset management\" book.</p>\n<p>As shown in the table below, Goldman's Asset Management (F/K/A \"prop\") also had a stellar quarter, generating a record $5.1BN in net revenue, more than double the year ago quarter.</p>\n<p><img src=\"https://static.tigerbbs.com/8d7dcf11b10007ddc07352220768e105\" tg-width=\"771\" tg-height=\"434\" referrerpolicy=\"no-referrer\">In explaining the group's stellar performance, Goldman writes that \"equity investments produced record net revenues, with the YoY increase primarily driven by significantly higher net gains from investments in private equities, driven by company-specific events, including capital raises and sales, and improved corporate performance versus a challenging 2Q20.\"</p>\n<p>The bank then breaks down the asset mix of its prop traders, which as of Q2 had some $21 billion in equity investments spread across various sectors, vintages and geographies (mostly the US).</p>\n<p><img src=\"https://static.tigerbbs.com/3a2d4089fcfd78f1b6d025823c88d24d\" tg-width=\"1280\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p>\n<p>Which brings us to the punchline: a chart showing what Goldman<i>had done</i>with its equity investments in 2021. Here the bank pulls no punches, making it clear in the title that it has been busy \"<i><b>harvesting</b></i>\" its balance sheet equity portfolio. Which, of course, is another word for selling.</p>\n<p>What is even more remarkable is just how much Goldman has harvested so far in 2021: as shown below, having started with a $20BN equity portfolio which has enjoyed a $5BN increase in market prices,<b>Goldman dumped a whopping $5.5 billion of its equity assets so far (excluding a modest $1.5BN in purchases) or more than a quarter of its entire portfolio as of Dec 31.</b></p>\n<p><img src=\"https://static.tigerbbs.com/93df1ef5d7169b1d81a0042eac5f2af6\" tg-width=\"1280\" tg-height=\"704\" referrerpolicy=\"no-referrer\"></p>\n<p>Who is Goldman selling to? Anyone who will buy, but here we would wager that<b>retail investors - who have been on tilt buying in 2021 - have been the proud recipients of billions in Goldman sales.</b>This, in the financial literature is called the \"<b>distribution phase.</b>\"</p>\n<p>The sales were so extensive that the topic was brought up on Goldman's earnings call earlier today. In response to a question about Goldman's efforts to reduce its equity investment portfolio, the bank said that it it has \"<b>made progress on improving its capital efficiency and is moving 'aggressively' to manage equity positions, especially since the environment is supportive.\"</b></p>\n<p>What does that mean in English? Simple: Goldman is \"aggressively\" dumping its positions in an environment that is \"supportive\", i.e., in which the dumb money is providing a constant bid into which whales such as Goldman can sell.</p>\n<p>The last time Goldman was \"aggressively\" selling into a \"supportive\" market? Well, we have to go back all the way to 2007 and 2008 when Goldman was busy creating the very CDOs which its prop desk would then \"aggressively\" short. We all remember how prophetic that particular move turned out to be...</p>\n<p><b>Related:</b></p>\n<ul>\n <li>Goldman Sachs:&nbsp;Q2 GAAP EPS of $15.02beats by $5.07.</li>\n <li>Revenue of $15.39B (+15.7% Y/Y)beats by $3.22B.</li>\n <li>Reversal of credit losses of $92M.</li>\n <li>On July 12, 2021, the Board of Directors of The Goldman Sachs Group, Inc. approved a 60% increase in the quarterly dividend to $2.00 per common share beginning in the third quarter of 2021.</li>\n</ul>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-14 11:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...\n\n... ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1133459947","content_text":"While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...\n\n... when the bank reported itssecond best quarter on record, there was some more notable slide in the bank'sQ2 earnings presentation, and it had to do with what Goldman is doing for its own prop, or \"asset management\" book.\nAs shown in the table below, Goldman's Asset Management (F/K/A \"prop\") also had a stellar quarter, generating a record $5.1BN in net revenue, more than double the year ago quarter.\nIn explaining the group's stellar performance, Goldman writes that \"equity investments produced record net revenues, with the YoY increase primarily driven by significantly higher net gains from investments in private equities, driven by company-specific events, including capital raises and sales, and improved corporate performance versus a challenging 2Q20.\"\nThe bank then breaks down the asset mix of its prop traders, which as of Q2 had some $21 billion in equity investments spread across various sectors, vintages and geographies (mostly the US).\n\nWhich brings us to the punchline: a chart showing what Goldmanhad donewith its equity investments in 2021. Here the bank pulls no punches, making it clear in the title that it has been busy \"harvesting\" its balance sheet equity portfolio. Which, of course, is another word for selling.\nWhat is even more remarkable is just how much Goldman has harvested so far in 2021: as shown below, having started with a $20BN equity portfolio which has enjoyed a $5BN increase in market prices,Goldman dumped a whopping $5.5 billion of its equity assets so far (excluding a modest $1.5BN in purchases) or more than a quarter of its entire portfolio as of Dec 31.\n\nWho is Goldman selling to? Anyone who will buy, but here we would wager thatretail investors - who have been on tilt buying in 2021 - have been the proud recipients of billions in Goldman sales.This, in the financial literature is called the \"distribution phase.\"\nThe sales were so extensive that the topic was brought up on Goldman's earnings call earlier today. In response to a question about Goldman's efforts to reduce its equity investment portfolio, the bank said that it it has \"made progress on improving its capital efficiency and is moving 'aggressively' to manage equity positions, especially since the environment is supportive.\"\nWhat does that mean in English? Simple: Goldman is \"aggressively\" dumping its positions in an environment that is \"supportive\", i.e., in which the dumb money is providing a constant bid into which whales such as Goldman can sell.\nThe last time Goldman was \"aggressively\" selling into a \"supportive\" market? Well, we have to go back all the way to 2007 and 2008 when Goldman was busy creating the very CDOs which its prop desk would then \"aggressively\" short. We all remember how prophetic that particular move turned out to be...\nRelated:\n\nGoldman Sachs: Q2 GAAP EPS of $15.02beats by $5.07.\nRevenue of $15.39B (+15.7% Y/Y)beats by $3.22B.\nReversal of credit losses of $92M.\nOn July 12, 2021, the Board of Directors of The Goldman Sachs Group, Inc. approved a 60% increase in the quarterly dividend to $2.00 per common share beginning in the third quarter of 2021.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":145463250,"gmtCreate":1626238172170,"gmtModify":1631888657812,"author":{"id":"3586590970630142","authorId":"3586590970630142","name":"zero79","avatar":"https://static.tigerbbs.com/18bdafe6e77141b002b8ed62dd5cc0e3","vip":1,"crmLevel":3,"crmLevelSwitch":0,"authorIdStr":"3586590970630142","idStr":"3586590970630142"},"htmlText":"Power&nbsp;","listText":"Power&nbsp;","text":"Power","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/145463250","repostId":1133459947,"repostType":4,"repost":{"id":"1133459947","pubTimestamp":1626232908,"share":"https://www.laohu8.com/m/news/1133459947?lang=&edition=full","pubTime":"2021-07-14 11:21","market":"us","language":"en","title":"Goldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments","url":"https://stock-news.laohu8.com/highlight/detail?id=1133459947","media":"zerohedge","summary":"While most analysts and traders were digging through Goldman's investment banking and trading result","content":"<p>While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...</p>\n<p><img src=\"https://static.tigerbbs.com/dd07fc077dd10720c94c622b49d99141\" tg-width=\"1280\" tg-height=\"706\" referrerpolicy=\"no-referrer\"></p>\n<p>... when the bank reported itssecond best quarter on record, there was some more notable slide in the bank'sQ2 earnings presentation, and it had to do with what Goldman is doing for its own prop, or \"asset management\" book.</p>\n<p>As shown in the table below, Goldman's Asset Management (F/K/A \"prop\") also had a stellar quarter, generating a record $5.1BN in net revenue, more than double the year ago quarter.</p>\n<p><img src=\"https://static.tigerbbs.com/8d7dcf11b10007ddc07352220768e105\" tg-width=\"771\" tg-height=\"434\" referrerpolicy=\"no-referrer\">In explaining the group's stellar performance, Goldman writes that \"equity investments produced record net revenues, with the YoY increase primarily driven by significantly higher net gains from investments in private equities, driven by company-specific events, including capital raises and sales, and improved corporate performance versus a challenging 2Q20.\"</p>\n<p>The bank then breaks down the asset mix of its prop traders, which as of Q2 had some $21 billion in equity investments spread across various sectors, vintages and geographies (mostly the US).</p>\n<p><img src=\"https://static.tigerbbs.com/3a2d4089fcfd78f1b6d025823c88d24d\" tg-width=\"1280\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p>\n<p>Which brings us to the punchline: a chart showing what Goldman<i>had done</i>with its equity investments in 2021. Here the bank pulls no punches, making it clear in the title that it has been busy \"<i><b>harvesting</b></i>\" its balance sheet equity portfolio. Which, of course, is another word for selling.</p>\n<p>What is even more remarkable is just how much Goldman has harvested so far in 2021: as shown below, having started with a $20BN equity portfolio which has enjoyed a $5BN increase in market prices,<b>Goldman dumped a whopping $5.5 billion of its equity assets so far (excluding a modest $1.5BN in purchases) or more than a quarter of its entire portfolio as of Dec 31.</b></p>\n<p><img src=\"https://static.tigerbbs.com/93df1ef5d7169b1d81a0042eac5f2af6\" tg-width=\"1280\" tg-height=\"704\" referrerpolicy=\"no-referrer\"></p>\n<p>Who is Goldman selling to? Anyone who will buy, but here we would wager that<b>retail investors - who have been on tilt buying in 2021 - have been the proud recipients of billions in Goldman sales.</b>This, in the financial literature is called the \"<b>distribution phase.</b>\"</p>\n<p>The sales were so extensive that the topic was brought up on Goldman's earnings call earlier today. In response to a question about Goldman's efforts to reduce its equity investment portfolio, the bank said that it it has \"<b>made progress on improving its capital efficiency and is moving 'aggressively' to manage equity positions, especially since the environment is supportive.\"</b></p>\n<p>What does that mean in English? Simple: Goldman is \"aggressively\" dumping its positions in an environment that is \"supportive\", i.e., in which the dumb money is providing a constant bid into which whales such as Goldman can sell.</p>\n<p>The last time Goldman was \"aggressively\" selling into a \"supportive\" market? Well, we have to go back all the way to 2007 and 2008 when Goldman was busy creating the very CDOs which its prop desk would then \"aggressively\" short. We all remember how prophetic that particular move turned out to be...</p>\n<p><b>Related:</b></p>\n<ul>\n <li>Goldman Sachs:&nbsp;Q2 GAAP EPS of $15.02beats by $5.07.</li>\n <li>Revenue of $15.39B (+15.7% Y/Y)beats by $3.22B.</li>\n <li>Reversal of credit losses of $92M.</li>\n <li>On July 12, 2021, the Board of Directors of The Goldman Sachs Group, Inc. approved a 60% increase in the quarterly dividend to $2.00 per common share beginning in the third quarter of 2021.</li>\n</ul>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-14 11:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...\n\n... ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1133459947","content_text":"While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...\n\n... when the bank reported itssecond best quarter on record, there was some more notable slide in the bank'sQ2 earnings presentation, and it had to do with what Goldman is doing for its own prop, or \"asset management\" book.\nAs shown in the table below, Goldman's Asset Management (F/K/A \"prop\") also had a stellar quarter, generating a record $5.1BN in net revenue, more than double the year ago quarter.\nIn explaining the group's stellar performance, Goldman writes that \"equity investments produced record net revenues, with the YoY increase primarily driven by significantly higher net gains from investments in private equities, driven by company-specific events, including capital raises and sales, and improved corporate performance versus a challenging 2Q20.\"\nThe bank then breaks down the asset mix of its prop traders, which as of Q2 had some $21 billion in equity investments spread across various sectors, vintages and geographies (mostly the US).\n\nWhich brings us to the punchline: a chart showing what Goldmanhad donewith its equity investments in 2021. Here the bank pulls no punches, making it clear in the title that it has been busy \"harvesting\" its balance sheet equity portfolio. Which, of course, is another word for selling.\nWhat is even more remarkable is just how much Goldman has harvested so far in 2021: as shown below, having started with a $20BN equity portfolio which has enjoyed a $5BN increase in market prices,Goldman dumped a whopping $5.5 billion of its equity assets so far (excluding a modest $1.5BN in purchases) or more than a quarter of its entire portfolio as of Dec 31.\n\nWho is Goldman selling to? Anyone who will buy, but here we would wager thatretail investors - who have been on tilt buying in 2021 - have been the proud recipients of billions in Goldman sales.This, in the financial literature is called the \"distribution phase.\"\nThe sales were so extensive that the topic was brought up on Goldman's earnings call earlier today. In response to a question about Goldman's efforts to reduce its equity investment portfolio, the bank said that it it has \"made progress on improving its capital efficiency and is moving 'aggressively' to manage equity positions, especially since the environment is supportive.\"\nWhat does that mean in English? Simple: Goldman is \"aggressively\" dumping its positions in an environment that is \"supportive\", i.e., in which the dumb money is providing a constant bid into which whales such as Goldman can sell.\nThe last time Goldman was \"aggressively\" selling into a \"supportive\" market? Well, we have to go back all the way to 2007 and 2008 when Goldman was busy creating the very CDOs which its prop desk would then \"aggressively\" short. We all remember how prophetic that particular move turned out to be...\nRelated:\n\nGoldman Sachs: Q2 GAAP EPS of $15.02beats by $5.07.\nRevenue of $15.39B (+15.7% Y/Y)beats by $3.22B.\nReversal of credit losses of $92M.\nOn July 12, 2021, the Board of Directors of The Goldman Sachs Group, Inc. approved a 60% increase in the quarterly dividend to $2.00 per common share beginning in the third quarter of 2021.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":145484409,"gmtCreate":1626237947401,"gmtModify":1633928725517,"author":{"id":"3574666502752392","authorId":"3574666502752392","name":"Valerie0214","avatar":"https://static.tigerbbs.com/9387235fd5ee60d3cfcf664ae8789f40","vip":1,"crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"3574666502752392","idStr":"3574666502752392"},"htmlText":"Your thoughts?","listText":"Your thoughts?","text":"Your thoughts?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/145484409","repostId":1133459947,"repostType":4,"repost":{"id":"1133459947","pubTimestamp":1626232908,"share":"https://www.laohu8.com/m/news/1133459947?lang=&edition=full","pubTime":"2021-07-14 11:21","market":"us","language":"en","title":"Goldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments","url":"https://stock-news.laohu8.com/highlight/detail?id=1133459947","media":"zerohedge","summary":"While most analysts and traders were digging through Goldman's investment banking and trading result","content":"<p>While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...</p>\n<p><img src=\"https://static.tigerbbs.com/dd07fc077dd10720c94c622b49d99141\" tg-width=\"1280\" tg-height=\"706\" referrerpolicy=\"no-referrer\"></p>\n<p>... when the bank reported itssecond best quarter on record, there was some more notable slide in the bank'sQ2 earnings presentation, and it had to do with what Goldman is doing for its own prop, or \"asset management\" book.</p>\n<p>As shown in the table below, Goldman's Asset Management (F/K/A \"prop\") also had a stellar quarter, generating a record $5.1BN in net revenue, more than double the year ago quarter.</p>\n<p><img src=\"https://static.tigerbbs.com/8d7dcf11b10007ddc07352220768e105\" tg-width=\"771\" tg-height=\"434\" referrerpolicy=\"no-referrer\">In explaining the group's stellar performance, Goldman writes that \"equity investments produced record net revenues, with the YoY increase primarily driven by significantly higher net gains from investments in private equities, driven by company-specific events, including capital raises and sales, and improved corporate performance versus a challenging 2Q20.\"</p>\n<p>The bank then breaks down the asset mix of its prop traders, which as of Q2 had some $21 billion in equity investments spread across various sectors, vintages and geographies (mostly the US).</p>\n<p><img src=\"https://static.tigerbbs.com/3a2d4089fcfd78f1b6d025823c88d24d\" tg-width=\"1280\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p>\n<p>Which brings us to the punchline: a chart showing what Goldman<i>had done</i>with its equity investments in 2021. Here the bank pulls no punches, making it clear in the title that it has been busy \"<i><b>harvesting</b></i>\" its balance sheet equity portfolio. Which, of course, is another word for selling.</p>\n<p>What is even more remarkable is just how much Goldman has harvested so far in 2021: as shown below, having started with a $20BN equity portfolio which has enjoyed a $5BN increase in market prices,<b>Goldman dumped a whopping $5.5 billion of its equity assets so far (excluding a modest $1.5BN in purchases) or more than a quarter of its entire portfolio as of Dec 31.</b></p>\n<p><img src=\"https://static.tigerbbs.com/93df1ef5d7169b1d81a0042eac5f2af6\" tg-width=\"1280\" tg-height=\"704\" referrerpolicy=\"no-referrer\"></p>\n<p>Who is Goldman selling to? Anyone who will buy, but here we would wager that<b>retail investors - who have been on tilt buying in 2021 - have been the proud recipients of billions in Goldman sales.</b>This, in the financial literature is called the \"<b>distribution phase.</b>\"</p>\n<p>The sales were so extensive that the topic was brought up on Goldman's earnings call earlier today. In response to a question about Goldman's efforts to reduce its equity investment portfolio, the bank said that it it has \"<b>made progress on improving its capital efficiency and is moving 'aggressively' to manage equity positions, especially since the environment is supportive.\"</b></p>\n<p>What does that mean in English? Simple: Goldman is \"aggressively\" dumping its positions in an environment that is \"supportive\", i.e., in which the dumb money is providing a constant bid into which whales such as Goldman can sell.</p>\n<p>The last time Goldman was \"aggressively\" selling into a \"supportive\" market? Well, we have to go back all the way to 2007 and 2008 when Goldman was busy creating the very CDOs which its prop desk would then \"aggressively\" short. We all remember how prophetic that particular move turned out to be...</p>\n<p><b>Related:</b></p>\n<ul>\n <li>Goldman Sachs:&nbsp;Q2 GAAP EPS of $15.02beats by $5.07.</li>\n <li>Revenue of $15.39B (+15.7% Y/Y)beats by $3.22B.</li>\n <li>Reversal of credit losses of $92M.</li>\n <li>On July 12, 2021, the Board of Directors of The Goldman Sachs Group, Inc. approved a 60% increase in the quarterly dividend to $2.00 per common share beginning in the third quarter of 2021.</li>\n</ul>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-14 11:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...\n\n... ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1133459947","content_text":"While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...\n\n... when the bank reported itssecond best quarter on record, there was some more notable slide in the bank'sQ2 earnings presentation, and it had to do with what Goldman is doing for its own prop, or \"asset management\" book.\nAs shown in the table below, Goldman's Asset Management (F/K/A \"prop\") also had a stellar quarter, generating a record $5.1BN in net revenue, more than double the year ago quarter.\nIn explaining the group's stellar performance, Goldman writes that \"equity investments produced record net revenues, with the YoY increase primarily driven by significantly higher net gains from investments in private equities, driven by company-specific events, including capital raises and sales, and improved corporate performance versus a challenging 2Q20.\"\nThe bank then breaks down the asset mix of its prop traders, which as of Q2 had some $21 billion in equity investments spread across various sectors, vintages and geographies (mostly the US).\n\nWhich brings us to the punchline: a chart showing what Goldmanhad donewith its equity investments in 2021. Here the bank pulls no punches, making it clear in the title that it has been busy \"harvesting\" its balance sheet equity portfolio. Which, of course, is another word for selling.\nWhat is even more remarkable is just how much Goldman has harvested so far in 2021: as shown below, having started with a $20BN equity portfolio which has enjoyed a $5BN increase in market prices,Goldman dumped a whopping $5.5 billion of its equity assets so far (excluding a modest $1.5BN in purchases) or more than a quarter of its entire portfolio as of Dec 31.\n\nWho is Goldman selling to? Anyone who will buy, but here we would wager thatretail investors - who have been on tilt buying in 2021 - have been the proud recipients of billions in Goldman sales.This, in the financial literature is called the \"distribution phase.\"\nThe sales were so extensive that the topic was brought up on Goldman's earnings call earlier today. In response to a question about Goldman's efforts to reduce its equity investment portfolio, the bank said that it it has \"made progress on improving its capital efficiency and is moving 'aggressively' to manage equity positions, especially since the environment is supportive.\"\nWhat does that mean in English? Simple: Goldman is \"aggressively\" dumping its positions in an environment that is \"supportive\", i.e., in which the dumb money is providing a constant bid into which whales such as Goldman can sell.\nThe last time Goldman was \"aggressively\" selling into a \"supportive\" market? Well, we have to go back all the way to 2007 and 2008 when Goldman was busy creating the very CDOs which its prop desk would then \"aggressively\" short. We all remember how prophetic that particular move turned out to be...\nRelated:\n\nGoldman Sachs: Q2 GAAP EPS of $15.02beats by $5.07.\nRevenue of $15.39B (+15.7% Y/Y)beats by $3.22B.\nReversal of credit losses of $92M.\nOn July 12, 2021, the Board of Directors of The Goldman Sachs Group, Inc. approved a 60% increase in the quarterly dividend to $2.00 per common share beginning in the third quarter of 2021.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5214583,"gmtCreate":1626238083694,"gmtModify":1635229608930,"authorId":3581894830339885,"author":{"id":3581894830339885,"idStr":"3581894830339885","authorId":3581894830339885,"name":"Desmondsim","avatar":"https://static.tigerbbs.com/9484cf4599b477a3985c44fe04da87b3","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":145484409,"type":1,"supId":0,"prevId":0,"content":"None","text":"None","html":"None"},{"id":5214608,"gmtCreate":1626238245202,"gmtModify":1635229606653,"authorId":3575433293784452,"author":{"id":3575433293784452,"idStr":"3575433293784452","authorId":3575433293784452,"name":"erichosk","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":145484409,"type":1,"supId":0,"prevId":0,"content":"something is brewing.","text":"something is brewing.","html":"something is brewing."}],"langContent":"EN"},{"id":145486725,"gmtCreate":1626237755767,"gmtModify":1633928727607,"author":{"id":"3583709064106308","authorId":"3583709064106308","name":"jjing","avatar":"https://static.tigerbbs.com/26b1694ca5e6e6f17094274824968463","vip":1,"crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"3583709064106308","idStr":"3583709064106308"},"htmlText":"[微笑]&nbsp;","listText":"[微笑]&nbsp;","text":"[微笑]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/145486725","repostId":1133459947,"repostType":4,"repost":{"id":"1133459947","pubTimestamp":1626232908,"share":"https://www.laohu8.com/m/news/1133459947?lang=&edition=full","pubTime":"2021-07-14 11:21","market":"us","language":"en","title":"Goldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments","url":"https://stock-news.laohu8.com/highlight/detail?id=1133459947","media":"zerohedge","summary":"While most analysts and traders were digging through Goldman's investment banking and trading result","content":"<p>While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...</p>\n<p><img src=\"https://static.tigerbbs.com/dd07fc077dd10720c94c622b49d99141\" tg-width=\"1280\" tg-height=\"706\" referrerpolicy=\"no-referrer\"></p>\n<p>... when the bank reported itssecond best quarter on record, there was some more notable slide in the bank'sQ2 earnings presentation, and it had to do with what Goldman is doing for its own prop, or \"asset management\" book.</p>\n<p>As shown in the table below, Goldman's Asset Management (F/K/A \"prop\") also had a stellar quarter, generating a record $5.1BN in net revenue, more than double the year ago quarter.</p>\n<p><img src=\"https://static.tigerbbs.com/8d7dcf11b10007ddc07352220768e105\" tg-width=\"771\" tg-height=\"434\" referrerpolicy=\"no-referrer\">In explaining the group's stellar performance, Goldman writes that \"equity investments produced record net revenues, with the YoY increase primarily driven by significantly higher net gains from investments in private equities, driven by company-specific events, including capital raises and sales, and improved corporate performance versus a challenging 2Q20.\"</p>\n<p>The bank then breaks down the asset mix of its prop traders, which as of Q2 had some $21 billion in equity investments spread across various sectors, vintages and geographies (mostly the US).</p>\n<p><img src=\"https://static.tigerbbs.com/3a2d4089fcfd78f1b6d025823c88d24d\" tg-width=\"1280\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p>\n<p>Which brings us to the punchline: a chart showing what Goldman<i>had done</i>with its equity investments in 2021. Here the bank pulls no punches, making it clear in the title that it has been busy \"<i><b>harvesting</b></i>\" its balance sheet equity portfolio. Which, of course, is another word for selling.</p>\n<p>What is even more remarkable is just how much Goldman has harvested so far in 2021: as shown below, having started with a $20BN equity portfolio which has enjoyed a $5BN increase in market prices,<b>Goldman dumped a whopping $5.5 billion of its equity assets so far (excluding a modest $1.5BN in purchases) or more than a quarter of its entire portfolio as of Dec 31.</b></p>\n<p><img src=\"https://static.tigerbbs.com/93df1ef5d7169b1d81a0042eac5f2af6\" tg-width=\"1280\" tg-height=\"704\" referrerpolicy=\"no-referrer\"></p>\n<p>Who is Goldman selling to? Anyone who will buy, but here we would wager that<b>retail investors - who have been on tilt buying in 2021 - have been the proud recipients of billions in Goldman sales.</b>This, in the financial literature is called the \"<b>distribution phase.</b>\"</p>\n<p>The sales were so extensive that the topic was brought up on Goldman's earnings call earlier today. In response to a question about Goldman's efforts to reduce its equity investment portfolio, the bank said that it it has \"<b>made progress on improving its capital efficiency and is moving 'aggressively' to manage equity positions, especially since the environment is supportive.\"</b></p>\n<p>What does that mean in English? Simple: Goldman is \"aggressively\" dumping its positions in an environment that is \"supportive\", i.e., in which the dumb money is providing a constant bid into which whales such as Goldman can sell.</p>\n<p>The last time Goldman was \"aggressively\" selling into a \"supportive\" market? Well, we have to go back all the way to 2007 and 2008 when Goldman was busy creating the very CDOs which its prop desk would then \"aggressively\" short. We all remember how prophetic that particular move turned out to be...</p>\n<p><b>Related:</b></p>\n<ul>\n <li>Goldman Sachs:&nbsp;Q2 GAAP EPS of $15.02beats by $5.07.</li>\n <li>Revenue of $15.39B (+15.7% Y/Y)beats by $3.22B.</li>\n <li>Reversal of credit losses of $92M.</li>\n <li>On July 12, 2021, the Board of Directors of The Goldman Sachs Group, Inc. approved a 60% increase in the quarterly dividend to $2.00 per common share beginning in the third quarter of 2021.</li>\n</ul>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-14 11:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...\n\n... ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1133459947","content_text":"While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...\n\n... when the bank reported itssecond best quarter on record, there was some more notable slide in the bank'sQ2 earnings presentation, and it had to do with what Goldman is doing for its own prop, or \"asset management\" book.\nAs shown in the table below, Goldman's Asset Management (F/K/A \"prop\") also had a stellar quarter, generating a record $5.1BN in net revenue, more than double the year ago quarter.\nIn explaining the group's stellar performance, Goldman writes that \"equity investments produced record net revenues, with the YoY increase primarily driven by significantly higher net gains from investments in private equities, driven by company-specific events, including capital raises and sales, and improved corporate performance versus a challenging 2Q20.\"\nThe bank then breaks down the asset mix of its prop traders, which as of Q2 had some $21 billion in equity investments spread across various sectors, vintages and geographies (mostly the US).\n\nWhich brings us to the punchline: a chart showing what Goldmanhad donewith its equity investments in 2021. Here the bank pulls no punches, making it clear in the title that it has been busy \"harvesting\" its balance sheet equity portfolio. Which, of course, is another word for selling.\nWhat is even more remarkable is just how much Goldman has harvested so far in 2021: as shown below, having started with a $20BN equity portfolio which has enjoyed a $5BN increase in market prices,Goldman dumped a whopping $5.5 billion of its equity assets so far (excluding a modest $1.5BN in purchases) or more than a quarter of its entire portfolio as of Dec 31.\n\nWho is Goldman selling to? Anyone who will buy, but here we would wager thatretail investors - who have been on tilt buying in 2021 - have been the proud recipients of billions in Goldman sales.This, in the financial literature is called the \"distribution phase.\"\nThe sales were so extensive that the topic was brought up on Goldman's earnings call earlier today. In response to a question about Goldman's efforts to reduce its equity investment portfolio, the bank said that it it has \"made progress on improving its capital efficiency and is moving 'aggressively' to manage equity positions, especially since the environment is supportive.\"\nWhat does that mean in English? Simple: Goldman is \"aggressively\" dumping its positions in an environment that is \"supportive\", i.e., in which the dumb money is providing a constant bid into which whales such as Goldman can sell.\nThe last time Goldman was \"aggressively\" selling into a \"supportive\" market? Well, we have to go back all the way to 2007 and 2008 when Goldman was busy creating the very CDOs which its prop desk would then \"aggressively\" short. We all remember how prophetic that particular move turned out to be...\nRelated:\n\nGoldman Sachs: Q2 GAAP EPS of $15.02beats by $5.07.\nRevenue of $15.39B (+15.7% Y/Y)beats by $3.22B.\nReversal of credit losses of $92M.\nOn July 12, 2021, the Board of Directors of The Goldman Sachs Group, Inc. approved a 60% increase in the quarterly dividend to $2.00 per common share beginning in the third quarter of 2021.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":145411363,"gmtCreate":1626236619652,"gmtModify":1633928736365,"author":{"id":"3577168442576973","authorId":"3577168442576973","name":"NeedMoneyPls","avatar":"https://static.tigerbbs.com/ae9445a785e57d1d8607eb2ae0dde618","vip":1,"crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"3577168442576973","idStr":"3577168442576973"},"htmlText":"If you are reading this comment, buy AMC","listText":"If you are reading this comment, buy AMC","text":"If you are reading this comment, buy AMC","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/145411363","repostId":1133459947,"repostType":4,"repost":{"id":"1133459947","pubTimestamp":1626232908,"share":"https://www.laohu8.com/m/news/1133459947?lang=&edition=full","pubTime":"2021-07-14 11:21","market":"us","language":"en","title":"Goldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments","url":"https://stock-news.laohu8.com/highlight/detail?id=1133459947","media":"zerohedge","summary":"While most analysts and traders were digging through Goldman's investment banking and trading result","content":"<p>While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...</p>\n<p><img src=\"https://static.tigerbbs.com/dd07fc077dd10720c94c622b49d99141\" tg-width=\"1280\" tg-height=\"706\" referrerpolicy=\"no-referrer\"></p>\n<p>... when the bank reported itssecond best quarter on record, there was some more notable slide in the bank'sQ2 earnings presentation, and it had to do with what Goldman is doing for its own prop, or \"asset management\" book.</p>\n<p>As shown in the table below, Goldman's Asset Management (F/K/A \"prop\") also had a stellar quarter, generating a record $5.1BN in net revenue, more than double the year ago quarter.</p>\n<p><img src=\"https://static.tigerbbs.com/8d7dcf11b10007ddc07352220768e105\" tg-width=\"771\" tg-height=\"434\" referrerpolicy=\"no-referrer\">In explaining the group's stellar performance, Goldman writes that \"equity investments produced record net revenues, with the YoY increase primarily driven by significantly higher net gains from investments in private equities, driven by company-specific events, including capital raises and sales, and improved corporate performance versus a challenging 2Q20.\"</p>\n<p>The bank then breaks down the asset mix of its prop traders, which as of Q2 had some $21 billion in equity investments spread across various sectors, vintages and geographies (mostly the US).</p>\n<p><img src=\"https://static.tigerbbs.com/3a2d4089fcfd78f1b6d025823c88d24d\" tg-width=\"1280\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p>\n<p>Which brings us to the punchline: a chart showing what Goldman<i>had done</i>with its equity investments in 2021. Here the bank pulls no punches, making it clear in the title that it has been busy \"<i><b>harvesting</b></i>\" its balance sheet equity portfolio. Which, of course, is another word for selling.</p>\n<p>What is even more remarkable is just how much Goldman has harvested so far in 2021: as shown below, having started with a $20BN equity portfolio which has enjoyed a $5BN increase in market prices,<b>Goldman dumped a whopping $5.5 billion of its equity assets so far (excluding a modest $1.5BN in purchases) or more than a quarter of its entire portfolio as of Dec 31.</b></p>\n<p><img src=\"https://static.tigerbbs.com/93df1ef5d7169b1d81a0042eac5f2af6\" tg-width=\"1280\" tg-height=\"704\" referrerpolicy=\"no-referrer\"></p>\n<p>Who is Goldman selling to? Anyone who will buy, but here we would wager that<b>retail investors - who have been on tilt buying in 2021 - have been the proud recipients of billions in Goldman sales.</b>This, in the financial literature is called the \"<b>distribution phase.</b>\"</p>\n<p>The sales were so extensive that the topic was brought up on Goldman's earnings call earlier today. In response to a question about Goldman's efforts to reduce its equity investment portfolio, the bank said that it it has \"<b>made progress on improving its capital efficiency and is moving 'aggressively' to manage equity positions, especially since the environment is supportive.\"</b></p>\n<p>What does that mean in English? Simple: Goldman is \"aggressively\" dumping its positions in an environment that is \"supportive\", i.e., in which the dumb money is providing a constant bid into which whales such as Goldman can sell.</p>\n<p>The last time Goldman was \"aggressively\" selling into a \"supportive\" market? Well, we have to go back all the way to 2007 and 2008 when Goldman was busy creating the very CDOs which its prop desk would then \"aggressively\" short. We all remember how prophetic that particular move turned out to be...</p>\n<p><b>Related:</b></p>\n<ul>\n <li>Goldman Sachs:&nbsp;Q2 GAAP EPS of $15.02beats by $5.07.</li>\n <li>Revenue of $15.39B (+15.7% Y/Y)beats by $3.22B.</li>\n <li>Reversal of credit losses of $92M.</li>\n <li>On July 12, 2021, the Board of Directors of The Goldman Sachs Group, Inc. approved a 60% increase in the quarterly dividend to $2.00 per common share beginning in the third quarter of 2021.</li>\n</ul>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-14 11:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...\n\n... ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1133459947","content_text":"While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...\n\n... when the bank reported itssecond best quarter on record, there was some more notable slide in the bank'sQ2 earnings presentation, and it had to do with what Goldman is doing for its own prop, or \"asset management\" book.\nAs shown in the table below, Goldman's Asset Management (F/K/A \"prop\") also had a stellar quarter, generating a record $5.1BN in net revenue, more than double the year ago quarter.\nIn explaining the group's stellar performance, Goldman writes that \"equity investments produced record net revenues, with the YoY increase primarily driven by significantly higher net gains from investments in private equities, driven by company-specific events, including capital raises and sales, and improved corporate performance versus a challenging 2Q20.\"\nThe bank then breaks down the asset mix of its prop traders, which as of Q2 had some $21 billion in equity investments spread across various sectors, vintages and geographies (mostly the US).\n\nWhich brings us to the punchline: a chart showing what Goldmanhad donewith its equity investments in 2021. Here the bank pulls no punches, making it clear in the title that it has been busy \"harvesting\" its balance sheet equity portfolio. Which, of course, is another word for selling.\nWhat is even more remarkable is just how much Goldman has harvested so far in 2021: as shown below, having started with a $20BN equity portfolio which has enjoyed a $5BN increase in market prices,Goldman dumped a whopping $5.5 billion of its equity assets so far (excluding a modest $1.5BN in purchases) or more than a quarter of its entire portfolio as of Dec 31.\n\nWho is Goldman selling to? Anyone who will buy, but here we would wager thatretail investors - who have been on tilt buying in 2021 - have been the proud recipients of billions in Goldman sales.This, in the financial literature is called the \"distribution phase.\"\nThe sales were so extensive that the topic was brought up on Goldman's earnings call earlier today. In response to a question about Goldman's efforts to reduce its equity investment portfolio, the bank said that it it has \"made progress on improving its capital efficiency and is moving 'aggressively' to manage equity positions, especially since the environment is supportive.\"\nWhat does that mean in English? Simple: Goldman is \"aggressively\" dumping its positions in an environment that is \"supportive\", i.e., in which the dumb money is providing a constant bid into which whales such as Goldman can sell.\nThe last time Goldman was \"aggressively\" selling into a \"supportive\" market? Well, we have to go back all the way to 2007 and 2008 when Goldman was busy creating the very CDOs which its prop desk would then \"aggressively\" short. We all remember how prophetic that particular move turned out to be...\nRelated:\n\nGoldman Sachs: Q2 GAAP EPS of $15.02beats by $5.07.\nRevenue of $15.39B (+15.7% Y/Y)beats by $3.22B.\nReversal of credit losses of $92M.\nOn July 12, 2021, the Board of Directors of The Goldman Sachs Group, Inc. approved a 60% increase in the quarterly dividend to $2.00 per common share beginning in the third quarter of 2021.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5214518,"gmtCreate":1626237615295,"gmtModify":1635229614968,"authorId":3585392435545471,"author":{"id":3585392435545471,"idStr":"3585392435545471","authorId":3585392435545471,"name":"Yyyyyyyjjjjj","avatar":"https://static.tigerbbs.com/e77d3833e0671517bf2a769238d7d016","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":145411363,"type":1,"supId":0,"prevId":0,"content":"Ok","text":"Ok","html":"Ok"},{"id":5214637,"gmtCreate":1626238493414,"gmtModify":1635229604061,"authorId":3572386838254554,"author":{"id":3572386838254554,"idStr":"3572386838254554","authorId":3572386838254554,"name":"Btyc","avatar":"https://static.tigerbbs.com/29cb9292b9c967e5a9df5f775cc4cd02","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":145411363,"type":1,"supId":0,"prevId":0,"content":"👍🏻","text":"👍🏻","html":"👍🏻"}],"langContent":"EN"},{"id":145437631,"gmtCreate":1626236257123,"gmtModify":1633928739272,"author":{"id":"3577607521999934","authorId":"3577607521999934","name":"YCGan","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3577607521999934","idStr":"3577607521999934"},"htmlText":"👍","listText":"👍","text":"👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/145437631","repostId":1133459947,"repostType":4,"repost":{"id":"1133459947","pubTimestamp":1626232908,"share":"https://www.laohu8.com/m/news/1133459947?lang=&edition=full","pubTime":"2021-07-14 11:21","market":"us","language":"en","title":"Goldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments","url":"https://stock-news.laohu8.com/highlight/detail?id=1133459947","media":"zerohedge","summary":"While most analysts and traders were digging through Goldman's investment banking and trading result","content":"<p>While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...</p>\n<p><img src=\"https://static.tigerbbs.com/dd07fc077dd10720c94c622b49d99141\" tg-width=\"1280\" tg-height=\"706\" referrerpolicy=\"no-referrer\"></p>\n<p>... when the bank reported itssecond best quarter on record, there was some more notable slide in the bank'sQ2 earnings presentation, and it had to do with what Goldman is doing for its own prop, or \"asset management\" book.</p>\n<p>As shown in the table below, Goldman's Asset Management (F/K/A \"prop\") also had a stellar quarter, generating a record $5.1BN in net revenue, more than double the year ago quarter.</p>\n<p><img src=\"https://static.tigerbbs.com/8d7dcf11b10007ddc07352220768e105\" tg-width=\"771\" tg-height=\"434\" referrerpolicy=\"no-referrer\">In explaining the group's stellar performance, Goldman writes that \"equity investments produced record net revenues, with the YoY increase primarily driven by significantly higher net gains from investments in private equities, driven by company-specific events, including capital raises and sales, and improved corporate performance versus a challenging 2Q20.\"</p>\n<p>The bank then breaks down the asset mix of its prop traders, which as of Q2 had some $21 billion in equity investments spread across various sectors, vintages and geographies (mostly the US).</p>\n<p><img src=\"https://static.tigerbbs.com/3a2d4089fcfd78f1b6d025823c88d24d\" tg-width=\"1280\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p>\n<p>Which brings us to the punchline: a chart showing what Goldman<i>had done</i>with its equity investments in 2021. Here the bank pulls no punches, making it clear in the title that it has been busy \"<i><b>harvesting</b></i>\" its balance sheet equity portfolio. Which, of course, is another word for selling.</p>\n<p>What is even more remarkable is just how much Goldman has harvested so far in 2021: as shown below, having started with a $20BN equity portfolio which has enjoyed a $5BN increase in market prices,<b>Goldman dumped a whopping $5.5 billion of its equity assets so far (excluding a modest $1.5BN in purchases) or more than a quarter of its entire portfolio as of Dec 31.</b></p>\n<p><img src=\"https://static.tigerbbs.com/93df1ef5d7169b1d81a0042eac5f2af6\" tg-width=\"1280\" tg-height=\"704\" referrerpolicy=\"no-referrer\"></p>\n<p>Who is Goldman selling to? Anyone who will buy, but here we would wager that<b>retail investors - who have been on tilt buying in 2021 - have been the proud recipients of billions in Goldman sales.</b>This, in the financial literature is called the \"<b>distribution phase.</b>\"</p>\n<p>The sales were so extensive that the topic was brought up on Goldman's earnings call earlier today. In response to a question about Goldman's efforts to reduce its equity investment portfolio, the bank said that it it has \"<b>made progress on improving its capital efficiency and is moving 'aggressively' to manage equity positions, especially since the environment is supportive.\"</b></p>\n<p>What does that mean in English? Simple: Goldman is \"aggressively\" dumping its positions in an environment that is \"supportive\", i.e., in which the dumb money is providing a constant bid into which whales such as Goldman can sell.</p>\n<p>The last time Goldman was \"aggressively\" selling into a \"supportive\" market? Well, we have to go back all the way to 2007 and 2008 when Goldman was busy creating the very CDOs which its prop desk would then \"aggressively\" short. We all remember how prophetic that particular move turned out to be...</p>\n<p><b>Related:</b></p>\n<ul>\n <li>Goldman Sachs:&nbsp;Q2 GAAP EPS of $15.02beats by $5.07.</li>\n <li>Revenue of $15.39B (+15.7% Y/Y)beats by $3.22B.</li>\n <li>Reversal of credit losses of $92M.</li>\n <li>On July 12, 2021, the Board of Directors of The Goldman Sachs Group, Inc. approved a 60% increase in the quarterly dividend to $2.00 per common share beginning in the third quarter of 2021.</li>\n</ul>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-14 11:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...\n\n... ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1133459947","content_text":"While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...\n\n... when the bank reported itssecond best quarter on record, there was some more notable slide in the bank'sQ2 earnings presentation, and it had to do with what Goldman is doing for its own prop, or \"asset management\" book.\nAs shown in the table below, Goldman's Asset Management (F/K/A \"prop\") also had a stellar quarter, generating a record $5.1BN in net revenue, more than double the year ago quarter.\nIn explaining the group's stellar performance, Goldman writes that \"equity investments produced record net revenues, with the YoY increase primarily driven by significantly higher net gains from investments in private equities, driven by company-specific events, including capital raises and sales, and improved corporate performance versus a challenging 2Q20.\"\nThe bank then breaks down the asset mix of its prop traders, which as of Q2 had some $21 billion in equity investments spread across various sectors, vintages and geographies (mostly the US).\n\nWhich brings us to the punchline: a chart showing what Goldmanhad donewith its equity investments in 2021. Here the bank pulls no punches, making it clear in the title that it has been busy \"harvesting\" its balance sheet equity portfolio. Which, of course, is another word for selling.\nWhat is even more remarkable is just how much Goldman has harvested so far in 2021: as shown below, having started with a $20BN equity portfolio which has enjoyed a $5BN increase in market prices,Goldman dumped a whopping $5.5 billion of its equity assets so far (excluding a modest $1.5BN in purchases) or more than a quarter of its entire portfolio as of Dec 31.\n\nWho is Goldman selling to? Anyone who will buy, but here we would wager thatretail investors - who have been on tilt buying in 2021 - have been the proud recipients of billions in Goldman sales.This, in the financial literature is called the \"distribution phase.\"\nThe sales were so extensive that the topic was brought up on Goldman's earnings call earlier today. In response to a question about Goldman's efforts to reduce its equity investment portfolio, the bank said that it it has \"made progress on improving its capital efficiency and is moving 'aggressively' to manage equity positions, especially since the environment is supportive.\"\nWhat does that mean in English? Simple: Goldman is \"aggressively\" dumping its positions in an environment that is \"supportive\", i.e., in which the dumb money is providing a constant bid into which whales such as Goldman can sell.\nThe last time Goldman was \"aggressively\" selling into a \"supportive\" market? Well, we have to go back all the way to 2007 and 2008 when Goldman was busy creating the very CDOs which its prop desk would then \"aggressively\" short. We all remember how prophetic that particular move turned out to be...\nRelated:\n\nGoldman Sachs: Q2 GAAP EPS of $15.02beats by $5.07.\nRevenue of $15.39B (+15.7% Y/Y)beats by $3.22B.\nReversal of credit losses of $92M.\nOn July 12, 2021, the Board of Directors of The Goldman Sachs Group, Inc. approved a 60% increase in the quarterly dividend to $2.00 per common share beginning in the third quarter of 2021.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5214528,"gmtCreate":1626237671079,"gmtModify":1635229614102,"authorId":3570400002121413,"author":{"id":3570400002121413,"idStr":"3570400002121413","authorId":3570400002121413,"name":"Jems","avatar":"https://static.tigerbbs.com/df92bb46e59bc93fe485730ea2188b61","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":145437631,"type":1,"supId":0,"prevId":0,"content":"<u>ok</u>","text":"<u>ok</u>","html":"<u>ok</u>"}],"langContent":"EN"},{"id":145433504,"gmtCreate":1626235819008,"gmtModify":1633928744838,"author":{"id":"3569316529855154","authorId":"3569316529855154","name":"Deonc","avatar":"https://static.tigerbbs.com/d9aa45dd2eb58357f6477dcfb99d1415","vip":1,"crmLevel":3,"crmLevelSwitch":0,"authorIdStr":"3569316529855154","idStr":"3569316529855154"},"htmlText":"Please like and comment.","listText":"Please like and comment.","text":"Please like and comment.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/145433504","repostId":1133459947,"repostType":4,"repost":{"id":"1133459947","pubTimestamp":1626232908,"share":"https://www.laohu8.com/m/news/1133459947?lang=&edition=full","pubTime":"2021-07-14 11:21","market":"us","language":"en","title":"Goldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments","url":"https://stock-news.laohu8.com/highlight/detail?id=1133459947","media":"zerohedge","summary":"While most analysts and traders were digging through Goldman's investment banking and trading result","content":"<p>While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...</p>\n<p><img src=\"https://static.tigerbbs.com/dd07fc077dd10720c94c622b49d99141\" tg-width=\"1280\" tg-height=\"706\" referrerpolicy=\"no-referrer\"></p>\n<p>... when the bank reported itssecond best quarter on record, there was some more notable slide in the bank'sQ2 earnings presentation, and it had to do with what Goldman is doing for its own prop, or \"asset management\" book.</p>\n<p>As shown in the table below, Goldman's Asset Management (F/K/A \"prop\") also had a stellar quarter, generating a record $5.1BN in net revenue, more than double the year ago quarter.</p>\n<p><img src=\"https://static.tigerbbs.com/8d7dcf11b10007ddc07352220768e105\" tg-width=\"771\" tg-height=\"434\" referrerpolicy=\"no-referrer\">In explaining the group's stellar performance, Goldman writes that \"equity investments produced record net revenues, with the YoY increase primarily driven by significantly higher net gains from investments in private equities, driven by company-specific events, including capital raises and sales, and improved corporate performance versus a challenging 2Q20.\"</p>\n<p>The bank then breaks down the asset mix of its prop traders, which as of Q2 had some $21 billion in equity investments spread across various sectors, vintages and geographies (mostly the US).</p>\n<p><img src=\"https://static.tigerbbs.com/3a2d4089fcfd78f1b6d025823c88d24d\" tg-width=\"1280\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p>\n<p>Which brings us to the punchline: a chart showing what Goldman<i>had done</i>with its equity investments in 2021. Here the bank pulls no punches, making it clear in the title that it has been busy \"<i><b>harvesting</b></i>\" its balance sheet equity portfolio. Which, of course, is another word for selling.</p>\n<p>What is even more remarkable is just how much Goldman has harvested so far in 2021: as shown below, having started with a $20BN equity portfolio which has enjoyed a $5BN increase in market prices,<b>Goldman dumped a whopping $5.5 billion of its equity assets so far (excluding a modest $1.5BN in purchases) or more than a quarter of its entire portfolio as of Dec 31.</b></p>\n<p><img src=\"https://static.tigerbbs.com/93df1ef5d7169b1d81a0042eac5f2af6\" tg-width=\"1280\" tg-height=\"704\" referrerpolicy=\"no-referrer\"></p>\n<p>Who is Goldman selling to? Anyone who will buy, but here we would wager that<b>retail investors - who have been on tilt buying in 2021 - have been the proud recipients of billions in Goldman sales.</b>This, in the financial literature is called the \"<b>distribution phase.</b>\"</p>\n<p>The sales were so extensive that the topic was brought up on Goldman's earnings call earlier today. In response to a question about Goldman's efforts to reduce its equity investment portfolio, the bank said that it it has \"<b>made progress on improving its capital efficiency and is moving 'aggressively' to manage equity positions, especially since the environment is supportive.\"</b></p>\n<p>What does that mean in English? Simple: Goldman is \"aggressively\" dumping its positions in an environment that is \"supportive\", i.e., in which the dumb money is providing a constant bid into which whales such as Goldman can sell.</p>\n<p>The last time Goldman was \"aggressively\" selling into a \"supportive\" market? Well, we have to go back all the way to 2007 and 2008 when Goldman was busy creating the very CDOs which its prop desk would then \"aggressively\" short. We all remember how prophetic that particular move turned out to be...</p>\n<p><b>Related:</b></p>\n<ul>\n <li>Goldman Sachs:&nbsp;Q2 GAAP EPS of $15.02beats by $5.07.</li>\n <li>Revenue of $15.39B (+15.7% Y/Y)beats by $3.22B.</li>\n <li>Reversal of credit losses of $92M.</li>\n <li>On July 12, 2021, the Board of Directors of The Goldman Sachs Group, Inc. approved a 60% increase in the quarterly dividend to $2.00 per common share beginning in the third quarter of 2021.</li>\n</ul>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-14 11:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...\n\n... ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1133459947","content_text":"While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...\n\n... when the bank reported itssecond best quarter on record, there was some more notable slide in the bank'sQ2 earnings presentation, and it had to do with what Goldman is doing for its own prop, or \"asset management\" book.\nAs shown in the table below, Goldman's Asset Management (F/K/A \"prop\") also had a stellar quarter, generating a record $5.1BN in net revenue, more than double the year ago quarter.\nIn explaining the group's stellar performance, Goldman writes that \"equity investments produced record net revenues, with the YoY increase primarily driven by significantly higher net gains from investments in private equities, driven by company-specific events, including capital raises and sales, and improved corporate performance versus a challenging 2Q20.\"\nThe bank then breaks down the asset mix of its prop traders, which as of Q2 had some $21 billion in equity investments spread across various sectors, vintages and geographies (mostly the US).\n\nWhich brings us to the punchline: a chart showing what Goldmanhad donewith its equity investments in 2021. Here the bank pulls no punches, making it clear in the title that it has been busy \"harvesting\" its balance sheet equity portfolio. Which, of course, is another word for selling.\nWhat is even more remarkable is just how much Goldman has harvested so far in 2021: as shown below, having started with a $20BN equity portfolio which has enjoyed a $5BN increase in market prices,Goldman dumped a whopping $5.5 billion of its equity assets so far (excluding a modest $1.5BN in purchases) or more than a quarter of its entire portfolio as of Dec 31.\n\nWho is Goldman selling to? Anyone who will buy, but here we would wager thatretail investors - who have been on tilt buying in 2021 - have been the proud recipients of billions in Goldman sales.This, in the financial literature is called the \"distribution phase.\"\nThe sales were so extensive that the topic was brought up on Goldman's earnings call earlier today. In response to a question about Goldman's efforts to reduce its equity investment portfolio, the bank said that it it has \"made progress on improving its capital efficiency and is moving 'aggressively' to manage equity positions, especially since the environment is supportive.\"\nWhat does that mean in English? Simple: Goldman is \"aggressively\" dumping its positions in an environment that is \"supportive\", i.e., in which the dumb money is providing a constant bid into which whales such as Goldman can sell.\nThe last time Goldman was \"aggressively\" selling into a \"supportive\" market? Well, we have to go back all the way to 2007 and 2008 when Goldman was busy creating the very CDOs which its prop desk would then \"aggressively\" short. We all remember how prophetic that particular move turned out to be...\nRelated:\n\nGoldman Sachs: Q2 GAAP EPS of $15.02beats by $5.07.\nRevenue of $15.39B (+15.7% Y/Y)beats by $3.22B.\nReversal of credit losses of $92M.\nOn July 12, 2021, the Board of Directors of The Goldman Sachs Group, Inc. approved a 60% increase in the quarterly dividend to $2.00 per common share beginning in the third quarter of 2021.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5214322,"gmtCreate":1626236127615,"gmtModify":1635229632893,"authorId":3581586523786578,"author":{"id":3581586523786578,"idStr":"3581586523786578","authorId":3581586523786578,"name":"ckww","avatar":"https://static.tigerbbs.com/bc2cc1ef6533d547201ce880e7c04b9c","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":145433504,"type":1,"supId":0,"prevId":0,"content":"<u>Sure</u>","text":"<u>Sure</u>","html":"<u>Sure</u>"},{"id":5214585,"gmtCreate":1626238086739,"gmtModify":1635229608711,"authorId":3569316529855154,"author":{"id":3569316529855154,"idStr":"3569316529855154","authorId":3569316529855154,"name":"Deonc","avatar":"https://static.tigerbbs.com/d9aa45dd2eb58357f6477dcfb99d1415","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":145433504,"type":1,"supId":5214322,"prevId":0,"content":"thanks","text":"thanks","html":"thanks"},{"id":5214591,"gmtCreate":1626238110977,"gmtModify":1635229608056,"authorId":3581678169581963,"author":{"id":3581678169581963,"idStr":"3581678169581963","authorId":3581678169581963,"name":"Eddieash","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":3569316529855154,"repliedAuthor":{"id":3569316529855154,"idStr":"3569316529855154","authorId":3569316529855154,"name":"Deonc","avatar":"https://static.tigerbbs.com/d9aa45dd2eb58357f6477dcfb99d1415","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"objectId":145433504,"type":1,"supId":5214322,"prevId":5214585,"content":"wohoo","text":"wohoo","html":"wohoo"}],"langContent":"EN"},{"id":145497989,"gmtCreate":1626235387541,"gmtModify":1633928747466,"author":{"id":"3585350696038563","authorId":"3585350696038563","name":"JPTL","avatar":"https://static.tigerbbs.com/6f6dde4c2c1d83e8d80141b547948419","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3585350696038563","idStr":"3585350696038563"},"htmlText":"👍","listText":"👍","text":"👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/145497989","repostId":1133459947,"repostType":4,"repost":{"id":"1133459947","pubTimestamp":1626232908,"share":"https://www.laohu8.com/m/news/1133459947?lang=&edition=full","pubTime":"2021-07-14 11:21","market":"us","language":"en","title":"Goldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments","url":"https://stock-news.laohu8.com/highlight/detail?id=1133459947","media":"zerohedge","summary":"While most analysts and traders were digging through Goldman's investment banking and trading result","content":"<p>While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...</p>\n<p><img src=\"https://static.tigerbbs.com/dd07fc077dd10720c94c622b49d99141\" tg-width=\"1280\" tg-height=\"706\" referrerpolicy=\"no-referrer\"></p>\n<p>... when the bank reported itssecond best quarter on record, there was some more notable slide in the bank'sQ2 earnings presentation, and it had to do with what Goldman is doing for its own prop, or \"asset management\" book.</p>\n<p>As shown in the table below, Goldman's Asset Management (F/K/A \"prop\") also had a stellar quarter, generating a record $5.1BN in net revenue, more than double the year ago quarter.</p>\n<p><img src=\"https://static.tigerbbs.com/8d7dcf11b10007ddc07352220768e105\" tg-width=\"771\" tg-height=\"434\" referrerpolicy=\"no-referrer\">In explaining the group's stellar performance, Goldman writes that \"equity investments produced record net revenues, with the YoY increase primarily driven by significantly higher net gains from investments in private equities, driven by company-specific events, including capital raises and sales, and improved corporate performance versus a challenging 2Q20.\"</p>\n<p>The bank then breaks down the asset mix of its prop traders, which as of Q2 had some $21 billion in equity investments spread across various sectors, vintages and geographies (mostly the US).</p>\n<p><img src=\"https://static.tigerbbs.com/3a2d4089fcfd78f1b6d025823c88d24d\" tg-width=\"1280\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p>\n<p>Which brings us to the punchline: a chart showing what Goldman<i>had done</i>with its equity investments in 2021. Here the bank pulls no punches, making it clear in the title that it has been busy \"<i><b>harvesting</b></i>\" its balance sheet equity portfolio. Which, of course, is another word for selling.</p>\n<p>What is even more remarkable is just how much Goldman has harvested so far in 2021: as shown below, having started with a $20BN equity portfolio which has enjoyed a $5BN increase in market prices,<b>Goldman dumped a whopping $5.5 billion of its equity assets so far (excluding a modest $1.5BN in purchases) or more than a quarter of its entire portfolio as of Dec 31.</b></p>\n<p><img src=\"https://static.tigerbbs.com/93df1ef5d7169b1d81a0042eac5f2af6\" tg-width=\"1280\" tg-height=\"704\" referrerpolicy=\"no-referrer\"></p>\n<p>Who is Goldman selling to? Anyone who will buy, but here we would wager that<b>retail investors - who have been on tilt buying in 2021 - have been the proud recipients of billions in Goldman sales.</b>This, in the financial literature is called the \"<b>distribution phase.</b>\"</p>\n<p>The sales were so extensive that the topic was brought up on Goldman's earnings call earlier today. In response to a question about Goldman's efforts to reduce its equity investment portfolio, the bank said that it it has \"<b>made progress on improving its capital efficiency and is moving 'aggressively' to manage equity positions, especially since the environment is supportive.\"</b></p>\n<p>What does that mean in English? Simple: Goldman is \"aggressively\" dumping its positions in an environment that is \"supportive\", i.e., in which the dumb money is providing a constant bid into which whales such as Goldman can sell.</p>\n<p>The last time Goldman was \"aggressively\" selling into a \"supportive\" market? Well, we have to go back all the way to 2007 and 2008 when Goldman was busy creating the very CDOs which its prop desk would then \"aggressively\" short. We all remember how prophetic that particular move turned out to be...</p>\n<p><b>Related:</b></p>\n<ul>\n <li>Goldman Sachs:&nbsp;Q2 GAAP EPS of $15.02beats by $5.07.</li>\n <li>Revenue of $15.39B (+15.7% Y/Y)beats by $3.22B.</li>\n <li>Reversal of credit losses of $92M.</li>\n <li>On July 12, 2021, the Board of Directors of The Goldman Sachs Group, Inc. approved a 60% increase in the quarterly dividend to $2.00 per common share beginning in the third quarter of 2021.</li>\n</ul>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-14 11:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...\n\n... ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1133459947","content_text":"While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...\n\n... when the bank reported itssecond best quarter on record, there was some more notable slide in the bank'sQ2 earnings presentation, and it had to do with what Goldman is doing for its own prop, or \"asset management\" book.\nAs shown in the table below, Goldman's Asset Management (F/K/A \"prop\") also had a stellar quarter, generating a record $5.1BN in net revenue, more than double the year ago quarter.\nIn explaining the group's stellar performance, Goldman writes that \"equity investments produced record net revenues, with the YoY increase primarily driven by significantly higher net gains from investments in private equities, driven by company-specific events, including capital raises and sales, and improved corporate performance versus a challenging 2Q20.\"\nThe bank then breaks down the asset mix of its prop traders, which as of Q2 had some $21 billion in equity investments spread across various sectors, vintages and geographies (mostly the US).\n\nWhich brings us to the punchline: a chart showing what Goldmanhad donewith its equity investments in 2021. Here the bank pulls no punches, making it clear in the title that it has been busy \"harvesting\" its balance sheet equity portfolio. Which, of course, is another word for selling.\nWhat is even more remarkable is just how much Goldman has harvested so far in 2021: as shown below, having started with a $20BN equity portfolio which has enjoyed a $5BN increase in market prices,Goldman dumped a whopping $5.5 billion of its equity assets so far (excluding a modest $1.5BN in purchases) or more than a quarter of its entire portfolio as of Dec 31.\n\nWho is Goldman selling to? Anyone who will buy, but here we would wager thatretail investors - who have been on tilt buying in 2021 - have been the proud recipients of billions in Goldman sales.This, in the financial literature is called the \"distribution phase.\"\nThe sales were so extensive that the topic was brought up on Goldman's earnings call earlier today. In response to a question about Goldman's efforts to reduce its equity investment portfolio, the bank said that it it has \"made progress on improving its capital efficiency and is moving 'aggressively' to manage equity positions, especially since the environment is supportive.\"\nWhat does that mean in English? Simple: Goldman is \"aggressively\" dumping its positions in an environment that is \"supportive\", i.e., in which the dumb money is providing a constant bid into which whales such as Goldman can sell.\nThe last time Goldman was \"aggressively\" selling into a \"supportive\" market? Well, we have to go back all the way to 2007 and 2008 when Goldman was busy creating the very CDOs which its prop desk would then \"aggressively\" short. We all remember how prophetic that particular move turned out to be...\nRelated:\n\nGoldman Sachs: Q2 GAAP EPS of $15.02beats by $5.07.\nRevenue of $15.39B (+15.7% Y/Y)beats by $3.22B.\nReversal of credit losses of $92M.\nOn July 12, 2021, the Board of Directors of The Goldman Sachs Group, Inc. approved a 60% increase in the quarterly dividend to $2.00 per common share beginning in the third quarter of 2021.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":145492602,"gmtCreate":1626235139106,"gmtModify":1633928748632,"author":{"id":"3574916293171379","authorId":"3574916293171379","name":"trojan1337","avatar":"https://static.tigerbbs.com/943a776c7741ee5cc4d67b3592fbb000","vip":1,"crmLevel":6,"crmLevelSwitch":0,"authorIdStr":"3574916293171379","idStr":"3574916293171379"},"htmlText":"Like and reply pls","listText":"Like and reply pls","text":"Like and reply pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/145492602","repostId":1133459947,"repostType":4,"repost":{"id":"1133459947","pubTimestamp":1626232908,"share":"https://www.laohu8.com/m/news/1133459947?lang=&edition=full","pubTime":"2021-07-14 11:21","market":"us","language":"en","title":"Goldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments","url":"https://stock-news.laohu8.com/highlight/detail?id=1133459947","media":"zerohedge","summary":"While most analysts and traders were digging through Goldman's investment banking and trading result","content":"<p>While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...</p>\n<p><img src=\"https://static.tigerbbs.com/dd07fc077dd10720c94c622b49d99141\" tg-width=\"1280\" tg-height=\"706\" referrerpolicy=\"no-referrer\"></p>\n<p>... when the bank reported itssecond best quarter on record, there was some more notable slide in the bank'sQ2 earnings presentation, and it had to do with what Goldman is doing for its own prop, or \"asset management\" book.</p>\n<p>As shown in the table below, Goldman's Asset Management (F/K/A \"prop\") also had a stellar quarter, generating a record $5.1BN in net revenue, more than double the year ago quarter.</p>\n<p><img src=\"https://static.tigerbbs.com/8d7dcf11b10007ddc07352220768e105\" tg-width=\"771\" tg-height=\"434\" referrerpolicy=\"no-referrer\">In explaining the group's stellar performance, Goldman writes that \"equity investments produced record net revenues, with the YoY increase primarily driven by significantly higher net gains from investments in private equities, driven by company-specific events, including capital raises and sales, and improved corporate performance versus a challenging 2Q20.\"</p>\n<p>The bank then breaks down the asset mix of its prop traders, which as of Q2 had some $21 billion in equity investments spread across various sectors, vintages and geographies (mostly the US).</p>\n<p><img src=\"https://static.tigerbbs.com/3a2d4089fcfd78f1b6d025823c88d24d\" tg-width=\"1280\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p>\n<p>Which brings us to the punchline: a chart showing what Goldman<i>had done</i>with its equity investments in 2021. Here the bank pulls no punches, making it clear in the title that it has been busy \"<i><b>harvesting</b></i>\" its balance sheet equity portfolio. Which, of course, is another word for selling.</p>\n<p>What is even more remarkable is just how much Goldman has harvested so far in 2021: as shown below, having started with a $20BN equity portfolio which has enjoyed a $5BN increase in market prices,<b>Goldman dumped a whopping $5.5 billion of its equity assets so far (excluding a modest $1.5BN in purchases) or more than a quarter of its entire portfolio as of Dec 31.</b></p>\n<p><img src=\"https://static.tigerbbs.com/93df1ef5d7169b1d81a0042eac5f2af6\" tg-width=\"1280\" tg-height=\"704\" referrerpolicy=\"no-referrer\"></p>\n<p>Who is Goldman selling to? Anyone who will buy, but here we would wager that<b>retail investors - who have been on tilt buying in 2021 - have been the proud recipients of billions in Goldman sales.</b>This, in the financial literature is called the \"<b>distribution phase.</b>\"</p>\n<p>The sales were so extensive that the topic was brought up on Goldman's earnings call earlier today. In response to a question about Goldman's efforts to reduce its equity investment portfolio, the bank said that it it has \"<b>made progress on improving its capital efficiency and is moving 'aggressively' to manage equity positions, especially since the environment is supportive.\"</b></p>\n<p>What does that mean in English? Simple: Goldman is \"aggressively\" dumping its positions in an environment that is \"supportive\", i.e., in which the dumb money is providing a constant bid into which whales such as Goldman can sell.</p>\n<p>The last time Goldman was \"aggressively\" selling into a \"supportive\" market? Well, we have to go back all the way to 2007 and 2008 when Goldman was busy creating the very CDOs which its prop desk would then \"aggressively\" short. We all remember how prophetic that particular move turned out to be...</p>\n<p><b>Related:</b></p>\n<ul>\n <li>Goldman Sachs:&nbsp;Q2 GAAP EPS of $15.02beats by $5.07.</li>\n <li>Revenue of $15.39B (+15.7% Y/Y)beats by $3.22B.</li>\n <li>Reversal of credit losses of $92M.</li>\n <li>On July 12, 2021, the Board of Directors of The Goldman Sachs Group, Inc. approved a 60% increase in the quarterly dividend to $2.00 per common share beginning in the third quarter of 2021.</li>\n</ul>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-14 11:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...\n\n... ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1133459947","content_text":"While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...\n\n... when the bank reported itssecond best quarter on record, there was some more notable slide in the bank'sQ2 earnings presentation, and it had to do with what Goldman is doing for its own prop, or \"asset management\" book.\nAs shown in the table below, Goldman's Asset Management (F/K/A \"prop\") also had a stellar quarter, generating a record $5.1BN in net revenue, more than double the year ago quarter.\nIn explaining the group's stellar performance, Goldman writes that \"equity investments produced record net revenues, with the YoY increase primarily driven by significantly higher net gains from investments in private equities, driven by company-specific events, including capital raises and sales, and improved corporate performance versus a challenging 2Q20.\"\nThe bank then breaks down the asset mix of its prop traders, which as of Q2 had some $21 billion in equity investments spread across various sectors, vintages and geographies (mostly the US).\n\nWhich brings us to the punchline: a chart showing what Goldmanhad donewith its equity investments in 2021. Here the bank pulls no punches, making it clear in the title that it has been busy \"harvesting\" its balance sheet equity portfolio. Which, of course, is another word for selling.\nWhat is even more remarkable is just how much Goldman has harvested so far in 2021: as shown below, having started with a $20BN equity portfolio which has enjoyed a $5BN increase in market prices,Goldman dumped a whopping $5.5 billion of its equity assets so far (excluding a modest $1.5BN in purchases) or more than a quarter of its entire portfolio as of Dec 31.\n\nWho is Goldman selling to? Anyone who will buy, but here we would wager thatretail investors - who have been on tilt buying in 2021 - have been the proud recipients of billions in Goldman sales.This, in the financial literature is called the \"distribution phase.\"\nThe sales were so extensive that the topic was brought up on Goldman's earnings call earlier today. In response to a question about Goldman's efforts to reduce its equity investment portfolio, the bank said that it it has \"made progress on improving its capital efficiency and is moving 'aggressively' to manage equity positions, especially since the environment is supportive.\"\nWhat does that mean in English? Simple: Goldman is \"aggressively\" dumping its positions in an environment that is \"supportive\", i.e., in which the dumb money is providing a constant bid into which whales such as Goldman can sell.\nThe last time Goldman was \"aggressively\" selling into a \"supportive\" market? Well, we have to go back all the way to 2007 and 2008 when Goldman was busy creating the very CDOs which its prop desk would then \"aggressively\" short. We all remember how prophetic that particular move turned out to be...\nRelated:\n\nGoldman Sachs: Q2 GAAP EPS of $15.02beats by $5.07.\nRevenue of $15.39B (+15.7% Y/Y)beats by $3.22B.\nReversal of credit losses of $92M.\nOn July 12, 2021, the Board of Directors of The Goldman Sachs Group, Inc. approved a 60% increase in the quarterly dividend to $2.00 per common share beginning in the third quarter of 2021.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5214235,"gmtCreate":1626235158198,"gmtModify":1635229639198,"authorId":3585350696038563,"author":{"id":3585350696038563,"idStr":"3585350696038563","authorId":3585350696038563,"name":"JPTL","avatar":"https://static.tigerbbs.com/6f6dde4c2c1d83e8d80141b547948419","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":145492602,"type":1,"supId":0,"prevId":0,"content":"<u>ok</u>","text":"<u>ok</u>","html":"<u>ok</u>"},{"id":5214294,"gmtCreate":1626235867325,"gmtModify":1635229634848,"authorId":3560426409941126,"author":{"id":3560426409941126,"idStr":"3560426409941126","authorId":3560426409941126,"name":"lyj893","avatar":"https://static.tigerbbs.com/2565d9a5280064e66bfaadce594b1683","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":145492602,"type":1,"supId":0,"prevId":0,"content":"Ok","text":"Ok","html":"Ok"}],"langContent":"EN"},{"id":145496170,"gmtCreate":1626234996490,"gmtModify":1626234996490,"author":{"id":"3581063216443091","authorId":"3581063216443091","name":"老Uncle","avatar":"https://static.tigerbbs.com/ef0828d104dbb47c9e2122177cf0d3b5","vip":1,"crmLevel":4,"crmLevelSwitch":0,"authorIdStr":"3581063216443091","idStr":"3581063216443091"},"htmlText":"oh well. i have also dumped practically all mine too. of course im just such a tiny tiny tiny fish to be noticed 😁😁😁","listText":"oh well. i have also dumped practically all mine too. of course im just such a tiny tiny tiny fish to be noticed 😁😁😁","text":"oh well. i have also dumped practically all mine too. of course im just such a tiny tiny tiny fish to be noticed 😁😁😁","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":17,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/145496170","repostId":1133459947,"repostType":4,"repost":{"id":"1133459947","pubTimestamp":1626232908,"share":"https://www.laohu8.com/m/news/1133459947?lang=&edition=full","pubTime":"2021-07-14 11:21","market":"us","language":"en","title":"Goldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments","url":"https://stock-news.laohu8.com/highlight/detail?id=1133459947","media":"zerohedge","summary":"While most analysts and traders were digging through Goldman's investment banking and trading result","content":"<p>While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...</p>\n<p><img src=\"https://static.tigerbbs.com/dd07fc077dd10720c94c622b49d99141\" tg-width=\"1280\" tg-height=\"706\" referrerpolicy=\"no-referrer\"></p>\n<p>... when the bank reported itssecond best quarter on record, there was some more notable slide in the bank'sQ2 earnings presentation, and it had to do with what Goldman is doing for its own prop, or \"asset management\" book.</p>\n<p>As shown in the table below, Goldman's Asset Management (F/K/A \"prop\") also had a stellar quarter, generating a record $5.1BN in net revenue, more than double the year ago quarter.</p>\n<p><img src=\"https://static.tigerbbs.com/8d7dcf11b10007ddc07352220768e105\" tg-width=\"771\" tg-height=\"434\" referrerpolicy=\"no-referrer\">In explaining the group's stellar performance, Goldman writes that \"equity investments produced record net revenues, with the YoY increase primarily driven by significantly higher net gains from investments in private equities, driven by company-specific events, including capital raises and sales, and improved corporate performance versus a challenging 2Q20.\"</p>\n<p>The bank then breaks down the asset mix of its prop traders, which as of Q2 had some $21 billion in equity investments spread across various sectors, vintages and geographies (mostly the US).</p>\n<p><img src=\"https://static.tigerbbs.com/3a2d4089fcfd78f1b6d025823c88d24d\" tg-width=\"1280\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p>\n<p>Which brings us to the punchline: a chart showing what Goldman<i>had done</i>with its equity investments in 2021. Here the bank pulls no punches, making it clear in the title that it has been busy \"<i><b>harvesting</b></i>\" its balance sheet equity portfolio. Which, of course, is another word for selling.</p>\n<p>What is even more remarkable is just how much Goldman has harvested so far in 2021: as shown below, having started with a $20BN equity portfolio which has enjoyed a $5BN increase in market prices,<b>Goldman dumped a whopping $5.5 billion of its equity assets so far (excluding a modest $1.5BN in purchases) or more than a quarter of its entire portfolio as of Dec 31.</b></p>\n<p><img src=\"https://static.tigerbbs.com/93df1ef5d7169b1d81a0042eac5f2af6\" tg-width=\"1280\" tg-height=\"704\" referrerpolicy=\"no-referrer\"></p>\n<p>Who is Goldman selling to? Anyone who will buy, but here we would wager that<b>retail investors - who have been on tilt buying in 2021 - have been the proud recipients of billions in Goldman sales.</b>This, in the financial literature is called the \"<b>distribution phase.</b>\"</p>\n<p>The sales were so extensive that the topic was brought up on Goldman's earnings call earlier today. In response to a question about Goldman's efforts to reduce its equity investment portfolio, the bank said that it it has \"<b>made progress on improving its capital efficiency and is moving 'aggressively' to manage equity positions, especially since the environment is supportive.\"</b></p>\n<p>What does that mean in English? Simple: Goldman is \"aggressively\" dumping its positions in an environment that is \"supportive\", i.e., in which the dumb money is providing a constant bid into which whales such as Goldman can sell.</p>\n<p>The last time Goldman was \"aggressively\" selling into a \"supportive\" market? Well, we have to go back all the way to 2007 and 2008 when Goldman was busy creating the very CDOs which its prop desk would then \"aggressively\" short. We all remember how prophetic that particular move turned out to be...</p>\n<p><b>Related:</b></p>\n<ul>\n <li>Goldman Sachs:&nbsp;Q2 GAAP EPS of $15.02beats by $5.07.</li>\n <li>Revenue of $15.39B (+15.7% Y/Y)beats by $3.22B.</li>\n <li>Reversal of credit losses of $92M.</li>\n <li>On July 12, 2021, the Board of Directors of The Goldman Sachs Group, Inc. approved a 60% increase in the quarterly dividend to $2.00 per common share beginning in the third quarter of 2021.</li>\n</ul>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-14 11:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...\n\n... ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1133459947","content_text":"While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...\n\n... when the bank reported itssecond best quarter on record, there was some more notable slide in the bank'sQ2 earnings presentation, and it had to do with what Goldman is doing for its own prop, or \"asset management\" book.\nAs shown in the table below, Goldman's Asset Management (F/K/A \"prop\") also had a stellar quarter, generating a record $5.1BN in net revenue, more than double the year ago quarter.\nIn explaining the group's stellar performance, Goldman writes that \"equity investments produced record net revenues, with the YoY increase primarily driven by significantly higher net gains from investments in private equities, driven by company-specific events, including capital raises and sales, and improved corporate performance versus a challenging 2Q20.\"\nThe bank then breaks down the asset mix of its prop traders, which as of Q2 had some $21 billion in equity investments spread across various sectors, vintages and geographies (mostly the US).\n\nWhich brings us to the punchline: a chart showing what Goldmanhad donewith its equity investments in 2021. Here the bank pulls no punches, making it clear in the title that it has been busy \"harvesting\" its balance sheet equity portfolio. Which, of course, is another word for selling.\nWhat is even more remarkable is just how much Goldman has harvested so far in 2021: as shown below, having started with a $20BN equity portfolio which has enjoyed a $5BN increase in market prices,Goldman dumped a whopping $5.5 billion of its equity assets so far (excluding a modest $1.5BN in purchases) or more than a quarter of its entire portfolio as of Dec 31.\n\nWho is Goldman selling to? Anyone who will buy, but here we would wager thatretail investors - who have been on tilt buying in 2021 - have been the proud recipients of billions in Goldman sales.This, in the financial literature is called the \"distribution phase.\"\nThe sales were so extensive that the topic was brought up on Goldman's earnings call earlier today. In response to a question about Goldman's efforts to reduce its equity investment portfolio, the bank said that it it has \"made progress on improving its capital efficiency and is moving 'aggressively' to manage equity positions, especially since the environment is supportive.\"\nWhat does that mean in English? Simple: Goldman is \"aggressively\" dumping its positions in an environment that is \"supportive\", i.e., in which the dumb money is providing a constant bid into which whales such as Goldman can sell.\nThe last time Goldman was \"aggressively\" selling into a \"supportive\" market? Well, we have to go back all the way to 2007 and 2008 when Goldman was busy creating the very CDOs which its prop desk would then \"aggressively\" short. We all remember how prophetic that particular move turned out to be...\nRelated:\n\nGoldman Sachs: Q2 GAAP EPS of $15.02beats by $5.07.\nRevenue of $15.39B (+15.7% Y/Y)beats by $3.22B.\nReversal of credit losses of $92M.\nOn July 12, 2021, the Board of Directors of The Goldman Sachs Group, Inc. approved a 60% increase in the quarterly dividend to $2.00 per common share beginning in the third quarter of 2021.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":145493435,"gmtCreate":1626234862127,"gmtModify":1631885481687,"author":{"id":"4087361572396550","authorId":"4087361572396550","name":"ValuInvestor","avatar":"https://static.tigerbbs.com/5a962911d3cd0763a9f0cb01392cacd9","vip":1,"crmLevel":4,"crmLevelSwitch":0,"authorIdStr":"4087361572396550","idStr":"4087361572396550"},"htmlText":"Time to be cautious","listText":"Time to be cautious","text":"Time to be cautious","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/145493435","repostId":1133459947,"repostType":4,"repost":{"id":"1133459947","pubTimestamp":1626232908,"share":"https://www.laohu8.com/m/news/1133459947?lang=&edition=full","pubTime":"2021-07-14 11:21","market":"us","language":"en","title":"Goldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments","url":"https://stock-news.laohu8.com/highlight/detail?id=1133459947","media":"zerohedge","summary":"While most analysts and traders were digging through Goldman's investment banking and trading result","content":"<p>While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...</p>\n<p><img src=\"https://static.tigerbbs.com/dd07fc077dd10720c94c622b49d99141\" tg-width=\"1280\" tg-height=\"706\" referrerpolicy=\"no-referrer\"></p>\n<p>... when the bank reported itssecond best quarter on record, there was some more notable slide in the bank'sQ2 earnings presentation, and it had to do with what Goldman is doing for its own prop, or \"asset management\" book.</p>\n<p>As shown in the table below, Goldman's Asset Management (F/K/A \"prop\") also had a stellar quarter, generating a record $5.1BN in net revenue, more than double the year ago quarter.</p>\n<p><img src=\"https://static.tigerbbs.com/8d7dcf11b10007ddc07352220768e105\" tg-width=\"771\" tg-height=\"434\" referrerpolicy=\"no-referrer\">In explaining the group's stellar performance, Goldman writes that \"equity investments produced record net revenues, with the YoY increase primarily driven by significantly higher net gains from investments in private equities, driven by company-specific events, including capital raises and sales, and improved corporate performance versus a challenging 2Q20.\"</p>\n<p>The bank then breaks down the asset mix of its prop traders, which as of Q2 had some $21 billion in equity investments spread across various sectors, vintages and geographies (mostly the US).</p>\n<p><img src=\"https://static.tigerbbs.com/3a2d4089fcfd78f1b6d025823c88d24d\" tg-width=\"1280\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p>\n<p>Which brings us to the punchline: a chart showing what Goldman<i>had done</i>with its equity investments in 2021. Here the bank pulls no punches, making it clear in the title that it has been busy \"<i><b>harvesting</b></i>\" its balance sheet equity portfolio. Which, of course, is another word for selling.</p>\n<p>What is even more remarkable is just how much Goldman has harvested so far in 2021: as shown below, having started with a $20BN equity portfolio which has enjoyed a $5BN increase in market prices,<b>Goldman dumped a whopping $5.5 billion of its equity assets so far (excluding a modest $1.5BN in purchases) or more than a quarter of its entire portfolio as of Dec 31.</b></p>\n<p><img src=\"https://static.tigerbbs.com/93df1ef5d7169b1d81a0042eac5f2af6\" tg-width=\"1280\" tg-height=\"704\" referrerpolicy=\"no-referrer\"></p>\n<p>Who is Goldman selling to? Anyone who will buy, but here we would wager that<b>retail investors - who have been on tilt buying in 2021 - have been the proud recipients of billions in Goldman sales.</b>This, in the financial literature is called the \"<b>distribution phase.</b>\"</p>\n<p>The sales were so extensive that the topic was brought up on Goldman's earnings call earlier today. In response to a question about Goldman's efforts to reduce its equity investment portfolio, the bank said that it it has \"<b>made progress on improving its capital efficiency and is moving 'aggressively' to manage equity positions, especially since the environment is supportive.\"</b></p>\n<p>What does that mean in English? Simple: Goldman is \"aggressively\" dumping its positions in an environment that is \"supportive\", i.e., in which the dumb money is providing a constant bid into which whales such as Goldman can sell.</p>\n<p>The last time Goldman was \"aggressively\" selling into a \"supportive\" market? Well, we have to go back all the way to 2007 and 2008 when Goldman was busy creating the very CDOs which its prop desk would then \"aggressively\" short. We all remember how prophetic that particular move turned out to be...</p>\n<p><b>Related:</b></p>\n<ul>\n <li>Goldman Sachs:&nbsp;Q2 GAAP EPS of $15.02beats by $5.07.</li>\n <li>Revenue of $15.39B (+15.7% Y/Y)beats by $3.22B.</li>\n <li>Reversal of credit losses of $92M.</li>\n <li>On July 12, 2021, the Board of Directors of The Goldman Sachs Group, Inc. approved a 60% increase in the quarterly dividend to $2.00 per common share beginning in the third quarter of 2021.</li>\n</ul>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-14 11:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...\n\n... ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1133459947","content_text":"While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...\n\n... when the bank reported itssecond best quarter on record, there was some more notable slide in the bank'sQ2 earnings presentation, and it had to do with what Goldman is doing for its own prop, or \"asset management\" book.\nAs shown in the table below, Goldman's Asset Management (F/K/A \"prop\") also had a stellar quarter, generating a record $5.1BN in net revenue, more than double the year ago quarter.\nIn explaining the group's stellar performance, Goldman writes that \"equity investments produced record net revenues, with the YoY increase primarily driven by significantly higher net gains from investments in private equities, driven by company-specific events, including capital raises and sales, and improved corporate performance versus a challenging 2Q20.\"\nThe bank then breaks down the asset mix of its prop traders, which as of Q2 had some $21 billion in equity investments spread across various sectors, vintages and geographies (mostly the US).\n\nWhich brings us to the punchline: a chart showing what Goldmanhad donewith its equity investments in 2021. Here the bank pulls no punches, making it clear in the title that it has been busy \"harvesting\" its balance sheet equity portfolio. Which, of course, is another word for selling.\nWhat is even more remarkable is just how much Goldman has harvested so far in 2021: as shown below, having started with a $20BN equity portfolio which has enjoyed a $5BN increase in market prices,Goldman dumped a whopping $5.5 billion of its equity assets so far (excluding a modest $1.5BN in purchases) or more than a quarter of its entire portfolio as of Dec 31.\n\nWho is Goldman selling to? Anyone who will buy, but here we would wager thatretail investors - who have been on tilt buying in 2021 - have been the proud recipients of billions in Goldman sales.This, in the financial literature is called the \"distribution phase.\"\nThe sales were so extensive that the topic was brought up on Goldman's earnings call earlier today. In response to a question about Goldman's efforts to reduce its equity investment portfolio, the bank said that it it has \"made progress on improving its capital efficiency and is moving 'aggressively' to manage equity positions, especially since the environment is supportive.\"\nWhat does that mean in English? Simple: Goldman is \"aggressively\" dumping its positions in an environment that is \"supportive\", i.e., in which the dumb money is providing a constant bid into which whales such as Goldman can sell.\nThe last time Goldman was \"aggressively\" selling into a \"supportive\" market? Well, we have to go back all the way to 2007 and 2008 when Goldman was busy creating the very CDOs which its prop desk would then \"aggressively\" short. We all remember how prophetic that particular move turned out to be...\nRelated:\n\nGoldman Sachs: Q2 GAAP EPS of $15.02beats by $5.07.\nRevenue of $15.39B (+15.7% Y/Y)beats by $3.22B.\nReversal of credit losses of $92M.\nOn July 12, 2021, the Board of Directors of The Goldman Sachs Group, Inc. approved a 60% increase in the quarterly dividend to $2.00 per common share beginning in the third quarter of 2021.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":145490794,"gmtCreate":1626234734118,"gmtModify":1626234734118,"author":{"id":"3563421686188310","authorId":"3563421686188310","name":"Hopehope赋予希望","avatar":"https://static.tigerbbs.com/9d9527ab7ac6557b84288abebb9ec540","vip":2,"crmLevel":9,"crmLevelSwitch":0,"authorIdStr":"3563421686188310","idStr":"3563421686188310"},"htmlText":"So u will see what they will do. They will just keep coming out with bear reports to influence the markets","listText":"So u will see what they will do. They will just keep coming out with bear reports to influence the markets","text":"So u will see what they will do. They will just keep coming out with bear reports to influence the markets","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/145490794","repostId":1133459947,"repostType":4,"repost":{"id":"1133459947","pubTimestamp":1626232908,"share":"https://www.laohu8.com/m/news/1133459947?lang=&edition=full","pubTime":"2021-07-14 11:21","market":"us","language":"en","title":"Goldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments","url":"https://stock-news.laohu8.com/highlight/detail?id=1133459947","media":"zerohedge","summary":"While most analysts and traders were digging through Goldman's investment banking and trading result","content":"<p>While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...</p>\n<p><img src=\"https://static.tigerbbs.com/dd07fc077dd10720c94c622b49d99141\" tg-width=\"1280\" tg-height=\"706\" referrerpolicy=\"no-referrer\"></p>\n<p>... when the bank reported itssecond best quarter on record, there was some more notable slide in the bank'sQ2 earnings presentation, and it had to do with what Goldman is doing for its own prop, or \"asset management\" book.</p>\n<p>As shown in the table below, Goldman's Asset Management (F/K/A \"prop\") also had a stellar quarter, generating a record $5.1BN in net revenue, more than double the year ago quarter.</p>\n<p><img src=\"https://static.tigerbbs.com/8d7dcf11b10007ddc07352220768e105\" tg-width=\"771\" tg-height=\"434\" referrerpolicy=\"no-referrer\">In explaining the group's stellar performance, Goldman writes that \"equity investments produced record net revenues, with the YoY increase primarily driven by significantly higher net gains from investments in private equities, driven by company-specific events, including capital raises and sales, and improved corporate performance versus a challenging 2Q20.\"</p>\n<p>The bank then breaks down the asset mix of its prop traders, which as of Q2 had some $21 billion in equity investments spread across various sectors, vintages and geographies (mostly the US).</p>\n<p><img src=\"https://static.tigerbbs.com/3a2d4089fcfd78f1b6d025823c88d24d\" tg-width=\"1280\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p>\n<p>Which brings us to the punchline: a chart showing what Goldman<i>had done</i>with its equity investments in 2021. Here the bank pulls no punches, making it clear in the title that it has been busy \"<i><b>harvesting</b></i>\" its balance sheet equity portfolio. Which, of course, is another word for selling.</p>\n<p>What is even more remarkable is just how much Goldman has harvested so far in 2021: as shown below, having started with a $20BN equity portfolio which has enjoyed a $5BN increase in market prices,<b>Goldman dumped a whopping $5.5 billion of its equity assets so far (excluding a modest $1.5BN in purchases) or more than a quarter of its entire portfolio as of Dec 31.</b></p>\n<p><img src=\"https://static.tigerbbs.com/93df1ef5d7169b1d81a0042eac5f2af6\" tg-width=\"1280\" tg-height=\"704\" referrerpolicy=\"no-referrer\"></p>\n<p>Who is Goldman selling to? Anyone who will buy, but here we would wager that<b>retail investors - who have been on tilt buying in 2021 - have been the proud recipients of billions in Goldman sales.</b>This, in the financial literature is called the \"<b>distribution phase.</b>\"</p>\n<p>The sales were so extensive that the topic was brought up on Goldman's earnings call earlier today. In response to a question about Goldman's efforts to reduce its equity investment portfolio, the bank said that it it has \"<b>made progress on improving its capital efficiency and is moving 'aggressively' to manage equity positions, especially since the environment is supportive.\"</b></p>\n<p>What does that mean in English? Simple: Goldman is \"aggressively\" dumping its positions in an environment that is \"supportive\", i.e., in which the dumb money is providing a constant bid into which whales such as Goldman can sell.</p>\n<p>The last time Goldman was \"aggressively\" selling into a \"supportive\" market? Well, we have to go back all the way to 2007 and 2008 when Goldman was busy creating the very CDOs which its prop desk would then \"aggressively\" short. We all remember how prophetic that particular move turned out to be...</p>\n<p><b>Related:</b></p>\n<ul>\n <li>Goldman Sachs:&nbsp;Q2 GAAP EPS of $15.02beats by $5.07.</li>\n <li>Revenue of $15.39B (+15.7% Y/Y)beats by $3.22B.</li>\n <li>Reversal of credit losses of $92M.</li>\n <li>On July 12, 2021, the Board of Directors of The Goldman Sachs Group, Inc. approved a 60% increase in the quarterly dividend to $2.00 per common share beginning in the third quarter of 2021.</li>\n</ul>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-14 11:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...\n\n... ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1133459947","content_text":"While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...\n\n... when the bank reported itssecond best quarter on record, there was some more notable slide in the bank'sQ2 earnings presentation, and it had to do with what Goldman is doing for its own prop, or \"asset management\" book.\nAs shown in the table below, Goldman's Asset Management (F/K/A \"prop\") also had a stellar quarter, generating a record $5.1BN in net revenue, more than double the year ago quarter.\nIn explaining the group's stellar performance, Goldman writes that \"equity investments produced record net revenues, with the YoY increase primarily driven by significantly higher net gains from investments in private equities, driven by company-specific events, including capital raises and sales, and improved corporate performance versus a challenging 2Q20.\"\nThe bank then breaks down the asset mix of its prop traders, which as of Q2 had some $21 billion in equity investments spread across various sectors, vintages and geographies (mostly the US).\n\nWhich brings us to the punchline: a chart showing what Goldmanhad donewith its equity investments in 2021. Here the bank pulls no punches, making it clear in the title that it has been busy \"harvesting\" its balance sheet equity portfolio. Which, of course, is another word for selling.\nWhat is even more remarkable is just how much Goldman has harvested so far in 2021: as shown below, having started with a $20BN equity portfolio which has enjoyed a $5BN increase in market prices,Goldman dumped a whopping $5.5 billion of its equity assets so far (excluding a modest $1.5BN in purchases) or more than a quarter of its entire portfolio as of Dec 31.\n\nWho is Goldman selling to? Anyone who will buy, but here we would wager thatretail investors - who have been on tilt buying in 2021 - have been the proud recipients of billions in Goldman sales.This, in the financial literature is called the \"distribution phase.\"\nThe sales were so extensive that the topic was brought up on Goldman's earnings call earlier today. In response to a question about Goldman's efforts to reduce its equity investment portfolio, the bank said that it it has \"made progress on improving its capital efficiency and is moving 'aggressively' to manage equity positions, especially since the environment is supportive.\"\nWhat does that mean in English? Simple: Goldman is \"aggressively\" dumping its positions in an environment that is \"supportive\", i.e., in which the dumb money is providing a constant bid into which whales such as Goldman can sell.\nThe last time Goldman was \"aggressively\" selling into a \"supportive\" market? Well, we have to go back all the way to 2007 and 2008 when Goldman was busy creating the very CDOs which its prop desk would then \"aggressively\" short. We all remember how prophetic that particular move turned out to be...\nRelated:\n\nGoldman Sachs: Q2 GAAP EPS of $15.02beats by $5.07.\nRevenue of $15.39B (+15.7% Y/Y)beats by $3.22B.\nReversal of credit losses of $92M.\nOn July 12, 2021, the Board of Directors of The Goldman Sachs Group, Inc. approved a 60% increase in the quarterly dividend to $2.00 per common share beginning in the third quarter of 2021.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5214196,"gmtCreate":1626234816249,"gmtModify":1635229642645,"authorId":3573653602271971,"author":{"id":3573653602271971,"idStr":"3573653602271971","authorId":3573653602271971,"name":"Champion365","avatar":"https://static.tigerbbs.com/04df800589718231e24e96f7a0b551cc","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":145490794,"type":1,"supId":0,"prevId":0,"content":"👍","text":"👍","html":"👍"},{"id":5214275,"gmtCreate":1626235723755,"gmtModify":1635229636253,"authorId":3583478720415511,"author":{"id":3583478720415511,"idStr":"3583478720415511","authorId":3583478720415511,"name":"Bentofighter","avatar":"https://static.tigerbbs.com/3d3b444e1397cd8d1ec1b18c5c8c5db5","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":145490794,"type":1,"supId":5214196,"prevId":0,"content":"Yup","text":"Yup","html":"Yup"},{"id":5214324,"gmtCreate":1626236144706,"gmtModify":1635229632674,"authorId":3581588388184713,"author":{"id":3581588388184713,"idStr":"3581588388184713","authorId":3581588388184713,"name":"hxongg","avatar":"https://static.tigerbbs.com/c5f0b151a0cab337f6bc2cd4a8ef38b2","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":145490794,"type":1,"supId":0,"prevId":0,"content":"[呆住]","text":"[呆住]","html":"[呆住]"},{"id":5215122,"gmtCreate":1626242851830,"gmtModify":1635229568398,"authorId":3580091833248136,"author":{"id":3580091833248136,"idStr":"3580091833248136","authorId":3580091833248136,"name":"Grantknight","avatar":"https://static.tigerbbs.com/16b0251384d78e740486464571de6b35","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":145490794,"type":1,"supId":0,"prevId":0,"content":"Coins","text":"Coins","html":"Coins"}],"langContent":"EN"},{"id":145407108,"gmtCreate":1626234614304,"gmtModify":1631885284485,"author":{"id":"3561596430587504","authorId":"3561596430587504","name":"robot1234","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":6,"crmLevelSwitch":0,"authorIdStr":"3561596430587504","idStr":"3561596430587504"},"htmlText":"Wow, Goldman Sachs stated&nbsp;2021 with a $20BN equity portfolio. Afte&nbsp;enjoying a $5BN increase in market prices, Goldman has aggressively&nbsp;dumped a whopping $5.5 billion of its equity assets so far (excluding a modest $1.5BN in purchases). A distribution mostly to retail investors. With&nbsp;US consumer prices increased 5.4% in June from a year earlier, the biggest monthly gain since August 2008, better to be cautious and adopt defensive play, and to have sufficient&nbsp;reserves.","listText":"Wow, Goldman Sachs stated&nbsp;2021 with a $20BN equity portfolio. Afte&nbsp;enjoying a $5BN increase in market prices, Goldman has aggressively&nbsp;dumped a whopping $5.5 billion of its equity assets so far (excluding a modest $1.5BN in purchases). A distribution mostly to retail investors. With&nbsp;US consumer prices increased 5.4% in June from a year earlier, the biggest monthly gain since August 2008, better to be cautious and adopt defensive play, and to have sufficient&nbsp;reserves.","text":"Wow, Goldman Sachs stated 2021 with a $20BN equity portfolio. Afte enjoying a $5BN increase in market prices, Goldman has aggressively dumped a whopping $5.5 billion of its equity assets so far (excluding a modest $1.5BN in purchases). A distribution mostly to retail investors. With US consumer prices increased 5.4% in June from a year earlier, the biggest monthly gain since August 2008, better to be cautious and adopt defensive play, and to have sufficient reserves.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/145407108","repostId":1133459947,"repostType":4,"repost":{"id":"1133459947","pubTimestamp":1626232908,"share":"https://www.laohu8.com/m/news/1133459947?lang=&edition=full","pubTime":"2021-07-14 11:21","market":"us","language":"en","title":"Goldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments","url":"https://stock-news.laohu8.com/highlight/detail?id=1133459947","media":"zerohedge","summary":"While most analysts and traders were digging through Goldman's investment banking and trading result","content":"<p>While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...</p>\n<p><img src=\"https://static.tigerbbs.com/dd07fc077dd10720c94c622b49d99141\" tg-width=\"1280\" tg-height=\"706\" referrerpolicy=\"no-referrer\"></p>\n<p>... when the bank reported itssecond best quarter on record, there was some more notable slide in the bank'sQ2 earnings presentation, and it had to do with what Goldman is doing for its own prop, or \"asset management\" book.</p>\n<p>As shown in the table below, Goldman's Asset Management (F/K/A \"prop\") also had a stellar quarter, generating a record $5.1BN in net revenue, more than double the year ago quarter.</p>\n<p><img src=\"https://static.tigerbbs.com/8d7dcf11b10007ddc07352220768e105\" tg-width=\"771\" tg-height=\"434\" referrerpolicy=\"no-referrer\">In explaining the group's stellar performance, Goldman writes that \"equity investments produced record net revenues, with the YoY increase primarily driven by significantly higher net gains from investments in private equities, driven by company-specific events, including capital raises and sales, and improved corporate performance versus a challenging 2Q20.\"</p>\n<p>The bank then breaks down the asset mix of its prop traders, which as of Q2 had some $21 billion in equity investments spread across various sectors, vintages and geographies (mostly the US).</p>\n<p><img src=\"https://static.tigerbbs.com/3a2d4089fcfd78f1b6d025823c88d24d\" tg-width=\"1280\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p>\n<p>Which brings us to the punchline: a chart showing what Goldman<i>had done</i>with its equity investments in 2021. Here the bank pulls no punches, making it clear in the title that it has been busy \"<i><b>harvesting</b></i>\" its balance sheet equity portfolio. Which, of course, is another word for selling.</p>\n<p>What is even more remarkable is just how much Goldman has harvested so far in 2021: as shown below, having started with a $20BN equity portfolio which has enjoyed a $5BN increase in market prices,<b>Goldman dumped a whopping $5.5 billion of its equity assets so far (excluding a modest $1.5BN in purchases) or more than a quarter of its entire portfolio as of Dec 31.</b></p>\n<p><img src=\"https://static.tigerbbs.com/93df1ef5d7169b1d81a0042eac5f2af6\" tg-width=\"1280\" tg-height=\"704\" referrerpolicy=\"no-referrer\"></p>\n<p>Who is Goldman selling to? Anyone who will buy, but here we would wager that<b>retail investors - who have been on tilt buying in 2021 - have been the proud recipients of billions in Goldman sales.</b>This, in the financial literature is called the \"<b>distribution phase.</b>\"</p>\n<p>The sales were so extensive that the topic was brought up on Goldman's earnings call earlier today. In response to a question about Goldman's efforts to reduce its equity investment portfolio, the bank said that it it has \"<b>made progress on improving its capital efficiency and is moving 'aggressively' to manage equity positions, especially since the environment is supportive.\"</b></p>\n<p>What does that mean in English? Simple: Goldman is \"aggressively\" dumping its positions in an environment that is \"supportive\", i.e., in which the dumb money is providing a constant bid into which whales such as Goldman can sell.</p>\n<p>The last time Goldman was \"aggressively\" selling into a \"supportive\" market? Well, we have to go back all the way to 2007 and 2008 when Goldman was busy creating the very CDOs which its prop desk would then \"aggressively\" short. We all remember how prophetic that particular move turned out to be...</p>\n<p><b>Related:</b></p>\n<ul>\n <li>Goldman Sachs:&nbsp;Q2 GAAP EPS of $15.02beats by $5.07.</li>\n <li>Revenue of $15.39B (+15.7% Y/Y)beats by $3.22B.</li>\n <li>Reversal of credit losses of $92M.</li>\n <li>On July 12, 2021, the Board of Directors of The Goldman Sachs Group, Inc. approved a 60% increase in the quarterly dividend to $2.00 per common share beginning in the third quarter of 2021.</li>\n</ul>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-14 11:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...\n\n... ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1133459947","content_text":"While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...\n\n... when the bank reported itssecond best quarter on record, there was some more notable slide in the bank'sQ2 earnings presentation, and it had to do with what Goldman is doing for its own prop, or \"asset management\" book.\nAs shown in the table below, Goldman's Asset Management (F/K/A \"prop\") also had a stellar quarter, generating a record $5.1BN in net revenue, more than double the year ago quarter.\nIn explaining the group's stellar performance, Goldman writes that \"equity investments produced record net revenues, with the YoY increase primarily driven by significantly higher net gains from investments in private equities, driven by company-specific events, including capital raises and sales, and improved corporate performance versus a challenging 2Q20.\"\nThe bank then breaks down the asset mix of its prop traders, which as of Q2 had some $21 billion in equity investments spread across various sectors, vintages and geographies (mostly the US).\n\nWhich brings us to the punchline: a chart showing what Goldmanhad donewith its equity investments in 2021. Here the bank pulls no punches, making it clear in the title that it has been busy \"harvesting\" its balance sheet equity portfolio. Which, of course, is another word for selling.\nWhat is even more remarkable is just how much Goldman has harvested so far in 2021: as shown below, having started with a $20BN equity portfolio which has enjoyed a $5BN increase in market prices,Goldman dumped a whopping $5.5 billion of its equity assets so far (excluding a modest $1.5BN in purchases) or more than a quarter of its entire portfolio as of Dec 31.\n\nWho is Goldman selling to? Anyone who will buy, but here we would wager thatretail investors - who have been on tilt buying in 2021 - have been the proud recipients of billions in Goldman sales.This, in the financial literature is called the \"distribution phase.\"\nThe sales were so extensive that the topic was brought up on Goldman's earnings call earlier today. In response to a question about Goldman's efforts to reduce its equity investment portfolio, the bank said that it it has \"made progress on improving its capital efficiency and is moving 'aggressively' to manage equity positions, especially since the environment is supportive.\"\nWhat does that mean in English? Simple: Goldman is \"aggressively\" dumping its positions in an environment that is \"supportive\", i.e., in which the dumb money is providing a constant bid into which whales such as Goldman can sell.\nThe last time Goldman was \"aggressively\" selling into a \"supportive\" market? Well, we have to go back all the way to 2007 and 2008 when Goldman was busy creating the very CDOs which its prop desk would then \"aggressively\" short. We all remember how prophetic that particular move turned out to be...\nRelated:\n\nGoldman Sachs: Q2 GAAP EPS of $15.02beats by $5.07.\nRevenue of $15.39B (+15.7% Y/Y)beats by $3.22B.\nReversal of credit losses of $92M.\nOn July 12, 2021, the Board of Directors of The Goldman Sachs Group, Inc. approved a 60% increase in the quarterly dividend to $2.00 per common share beginning in the third quarter of 2021.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5214316,"gmtCreate":1626236073593,"gmtModify":1635229633220,"authorId":3586588423230446,"author":{"id":3586588423230446,"idStr":"3586588423230446","authorId":3586588423230446,"name":"Takiho","avatar":"https://static.tigerbbs.com/9c71ba836ffdebd7c9d6c75d4b188cd8","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":145407108,"type":1,"supId":0,"prevId":0,"content":"Caution on the overall market, still bull on tech stock.\n<br>Like n comment","text":"Caution on the overall market, still bull on tech stock.\n<br>Like n comment","html":"Caution on the overall market, still bull on tech stock.\n<br>Like n comment"}],"langContent":"EN"},{"id":145408369,"gmtCreate":1626234198651,"gmtModify":1631890270299,"author":{"id":"3566564994472271","authorId":"3566564994472271","name":"Alvinwong","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3566564994472271","idStr":"3566564994472271"},"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/145408369","repostId":1133459947,"repostType":4,"repost":{"id":"1133459947","pubTimestamp":1626232908,"share":"https://www.laohu8.com/m/news/1133459947?lang=&edition=full","pubTime":"2021-07-14 11:21","market":"us","language":"en","title":"Goldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments","url":"https://stock-news.laohu8.com/highlight/detail?id=1133459947","media":"zerohedge","summary":"While most analysts and traders were digging through Goldman's investment banking and trading result","content":"<p>While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...</p>\n<p><img src=\"https://static.tigerbbs.com/dd07fc077dd10720c94c622b49d99141\" tg-width=\"1280\" tg-height=\"706\" referrerpolicy=\"no-referrer\"></p>\n<p>... when the bank reported itssecond best quarter on record, there was some more notable slide in the bank'sQ2 earnings presentation, and it had to do with what Goldman is doing for its own prop, or \"asset management\" book.</p>\n<p>As shown in the table below, Goldman's Asset Management (F/K/A \"prop\") also had a stellar quarter, generating a record $5.1BN in net revenue, more than double the year ago quarter.</p>\n<p><img src=\"https://static.tigerbbs.com/8d7dcf11b10007ddc07352220768e105\" tg-width=\"771\" tg-height=\"434\" referrerpolicy=\"no-referrer\">In explaining the group's stellar performance, Goldman writes that \"equity investments produced record net revenues, with the YoY increase primarily driven by significantly higher net gains from investments in private equities, driven by company-specific events, including capital raises and sales, and improved corporate performance versus a challenging 2Q20.\"</p>\n<p>The bank then breaks down the asset mix of its prop traders, which as of Q2 had some $21 billion in equity investments spread across various sectors, vintages and geographies (mostly the US).</p>\n<p><img src=\"https://static.tigerbbs.com/3a2d4089fcfd78f1b6d025823c88d24d\" tg-width=\"1280\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p>\n<p>Which brings us to the punchline: a chart showing what Goldman<i>had done</i>with its equity investments in 2021. Here the bank pulls no punches, making it clear in the title that it has been busy \"<i><b>harvesting</b></i>\" its balance sheet equity portfolio. Which, of course, is another word for selling.</p>\n<p>What is even more remarkable is just how much Goldman has harvested so far in 2021: as shown below, having started with a $20BN equity portfolio which has enjoyed a $5BN increase in market prices,<b>Goldman dumped a whopping $5.5 billion of its equity assets so far (excluding a modest $1.5BN in purchases) or more than a quarter of its entire portfolio as of Dec 31.</b></p>\n<p><img src=\"https://static.tigerbbs.com/93df1ef5d7169b1d81a0042eac5f2af6\" tg-width=\"1280\" tg-height=\"704\" referrerpolicy=\"no-referrer\"></p>\n<p>Who is Goldman selling to? Anyone who will buy, but here we would wager that<b>retail investors - who have been on tilt buying in 2021 - have been the proud recipients of billions in Goldman sales.</b>This, in the financial literature is called the \"<b>distribution phase.</b>\"</p>\n<p>The sales were so extensive that the topic was brought up on Goldman's earnings call earlier today. In response to a question about Goldman's efforts to reduce its equity investment portfolio, the bank said that it it has \"<b>made progress on improving its capital efficiency and is moving 'aggressively' to manage equity positions, especially since the environment is supportive.\"</b></p>\n<p>What does that mean in English? Simple: Goldman is \"aggressively\" dumping its positions in an environment that is \"supportive\", i.e., in which the dumb money is providing a constant bid into which whales such as Goldman can sell.</p>\n<p>The last time Goldman was \"aggressively\" selling into a \"supportive\" market? Well, we have to go back all the way to 2007 and 2008 when Goldman was busy creating the very CDOs which its prop desk would then \"aggressively\" short. We all remember how prophetic that particular move turned out to be...</p>\n<p><b>Related:</b></p>\n<ul>\n <li>Goldman Sachs:&nbsp;Q2 GAAP EPS of $15.02beats by $5.07.</li>\n <li>Revenue of $15.39B (+15.7% Y/Y)beats by $3.22B.</li>\n <li>Reversal of credit losses of $92M.</li>\n <li>On July 12, 2021, the Board of Directors of The Goldman Sachs Group, Inc. approved a 60% increase in the quarterly dividend to $2.00 per common share beginning in the third quarter of 2021.</li>\n</ul>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-14 11:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...\n\n... ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1133459947","content_text":"While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...\n\n... when the bank reported itssecond best quarter on record, there was some more notable slide in the bank'sQ2 earnings presentation, and it had to do with what Goldman is doing for its own prop, or \"asset management\" book.\nAs shown in the table below, Goldman's Asset Management (F/K/A \"prop\") also had a stellar quarter, generating a record $5.1BN in net revenue, more than double the year ago quarter.\nIn explaining the group's stellar performance, Goldman writes that \"equity investments produced record net revenues, with the YoY increase primarily driven by significantly higher net gains from investments in private equities, driven by company-specific events, including capital raises and sales, and improved corporate performance versus a challenging 2Q20.\"\nThe bank then breaks down the asset mix of its prop traders, which as of Q2 had some $21 billion in equity investments spread across various sectors, vintages and geographies (mostly the US).\n\nWhich brings us to the punchline: a chart showing what Goldmanhad donewith its equity investments in 2021. Here the bank pulls no punches, making it clear in the title that it has been busy \"harvesting\" its balance sheet equity portfolio. Which, of course, is another word for selling.\nWhat is even more remarkable is just how much Goldman has harvested so far in 2021: as shown below, having started with a $20BN equity portfolio which has enjoyed a $5BN increase in market prices,Goldman dumped a whopping $5.5 billion of its equity assets so far (excluding a modest $1.5BN in purchases) or more than a quarter of its entire portfolio as of Dec 31.\n\nWho is Goldman selling to? Anyone who will buy, but here we would wager thatretail investors - who have been on tilt buying in 2021 - have been the proud recipients of billions in Goldman sales.This, in the financial literature is called the \"distribution phase.\"\nThe sales were so extensive that the topic was brought up on Goldman's earnings call earlier today. In response to a question about Goldman's efforts to reduce its equity investment portfolio, the bank said that it it has \"made progress on improving its capital efficiency and is moving 'aggressively' to manage equity positions, especially since the environment is supportive.\"\nWhat does that mean in English? Simple: Goldman is \"aggressively\" dumping its positions in an environment that is \"supportive\", i.e., in which the dumb money is providing a constant bid into which whales such as Goldman can sell.\nThe last time Goldman was \"aggressively\" selling into a \"supportive\" market? Well, we have to go back all the way to 2007 and 2008 when Goldman was busy creating the very CDOs which its prop desk would then \"aggressively\" short. We all remember how prophetic that particular move turned out to be...\nRelated:\n\nGoldman Sachs: Q2 GAAP EPS of $15.02beats by $5.07.\nRevenue of $15.39B (+15.7% Y/Y)beats by $3.22B.\nReversal of credit losses of $92M.\nOn July 12, 2021, the Board of Directors of The Goldman Sachs Group, Inc. approved a 60% increase in the quarterly dividend to $2.00 per common share beginning in the third quarter of 2021.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":145401440,"gmtCreate":1626234158980,"gmtModify":1631891123162,"author":{"id":"3582894720985713","authorId":"3582894720985713","name":"DQ6","avatar":"https://static.tigerbbs.com/fa8d37bc40959d32453f15ca0e4178b4","vip":1,"crmLevel":5,"crmLevelSwitch":0,"authorIdStr":"3582894720985713","idStr":"3582894720985713"},"htmlText":"Bankers are scum bag.&nbsp;","listText":"Bankers are scum bag.&nbsp;","text":"Bankers are scum bag.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/145401440","repostId":1133459947,"repostType":4,"repost":{"id":"1133459947","pubTimestamp":1626232908,"share":"https://www.laohu8.com/m/news/1133459947?lang=&edition=full","pubTime":"2021-07-14 11:21","market":"us","language":"en","title":"Goldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments","url":"https://stock-news.laohu8.com/highlight/detail?id=1133459947","media":"zerohedge","summary":"While most analysts and traders were digging through Goldman's investment banking and trading result","content":"<p>While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...</p>\n<p><img src=\"https://static.tigerbbs.com/dd07fc077dd10720c94c622b49d99141\" tg-width=\"1280\" tg-height=\"706\" referrerpolicy=\"no-referrer\"></p>\n<p>... when the bank reported itssecond best quarter on record, there was some more notable slide in the bank'sQ2 earnings presentation, and it had to do with what Goldman is doing for its own prop, or \"asset management\" book.</p>\n<p>As shown in the table below, Goldman's Asset Management (F/K/A \"prop\") also had a stellar quarter, generating a record $5.1BN in net revenue, more than double the year ago quarter.</p>\n<p><img src=\"https://static.tigerbbs.com/8d7dcf11b10007ddc07352220768e105\" tg-width=\"771\" tg-height=\"434\" referrerpolicy=\"no-referrer\">In explaining the group's stellar performance, Goldman writes that \"equity investments produced record net revenues, with the YoY increase primarily driven by significantly higher net gains from investments in private equities, driven by company-specific events, including capital raises and sales, and improved corporate performance versus a challenging 2Q20.\"</p>\n<p>The bank then breaks down the asset mix of its prop traders, which as of Q2 had some $21 billion in equity investments spread across various sectors, vintages and geographies (mostly the US).</p>\n<p><img src=\"https://static.tigerbbs.com/3a2d4089fcfd78f1b6d025823c88d24d\" tg-width=\"1280\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p>\n<p>Which brings us to the punchline: a chart showing what Goldman<i>had done</i>with its equity investments in 2021. Here the bank pulls no punches, making it clear in the title that it has been busy \"<i><b>harvesting</b></i>\" its balance sheet equity portfolio. Which, of course, is another word for selling.</p>\n<p>What is even more remarkable is just how much Goldman has harvested so far in 2021: as shown below, having started with a $20BN equity portfolio which has enjoyed a $5BN increase in market prices,<b>Goldman dumped a whopping $5.5 billion of its equity assets so far (excluding a modest $1.5BN in purchases) or more than a quarter of its entire portfolio as of Dec 31.</b></p>\n<p><img src=\"https://static.tigerbbs.com/93df1ef5d7169b1d81a0042eac5f2af6\" tg-width=\"1280\" tg-height=\"704\" referrerpolicy=\"no-referrer\"></p>\n<p>Who is Goldman selling to? Anyone who will buy, but here we would wager that<b>retail investors - who have been on tilt buying in 2021 - have been the proud recipients of billions in Goldman sales.</b>This, in the financial literature is called the \"<b>distribution phase.</b>\"</p>\n<p>The sales were so extensive that the topic was brought up on Goldman's earnings call earlier today. In response to a question about Goldman's efforts to reduce its equity investment portfolio, the bank said that it it has \"<b>made progress on improving its capital efficiency and is moving 'aggressively' to manage equity positions, especially since the environment is supportive.\"</b></p>\n<p>What does that mean in English? Simple: Goldman is \"aggressively\" dumping its positions in an environment that is \"supportive\", i.e., in which the dumb money is providing a constant bid into which whales such as Goldman can sell.</p>\n<p>The last time Goldman was \"aggressively\" selling into a \"supportive\" market? Well, we have to go back all the way to 2007 and 2008 when Goldman was busy creating the very CDOs which its prop desk would then \"aggressively\" short. We all remember how prophetic that particular move turned out to be...</p>\n<p><b>Related:</b></p>\n<ul>\n <li>Goldman Sachs:&nbsp;Q2 GAAP EPS of $15.02beats by $5.07.</li>\n <li>Revenue of $15.39B (+15.7% Y/Y)beats by $3.22B.</li>\n <li>Reversal of credit losses of $92M.</li>\n <li>On July 12, 2021, the Board of Directors of The Goldman Sachs Group, Inc. approved a 60% increase in the quarterly dividend to $2.00 per common share beginning in the third quarter of 2021.</li>\n</ul>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Has \"Aggressively\" And Quietly Liquidated A Quarter Of Its Equity Investments\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-14 11:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...\n\n... ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/goldman-has-aggressively-and-quietly-liquidated-quarter-its-equity-investments","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1133459947","content_text":"While most analysts and traders were digging through Goldman's investment banking and trading results - of which the former came in stellar while trading, especially in FICC, was mediocore...\n\n... when the bank reported itssecond best quarter on record, there was some more notable slide in the bank'sQ2 earnings presentation, and it had to do with what Goldman is doing for its own prop, or \"asset management\" book.\nAs shown in the table below, Goldman's Asset Management (F/K/A \"prop\") also had a stellar quarter, generating a record $5.1BN in net revenue, more than double the year ago quarter.\nIn explaining the group's stellar performance, Goldman writes that \"equity investments produced record net revenues, with the YoY increase primarily driven by significantly higher net gains from investments in private equities, driven by company-specific events, including capital raises and sales, and improved corporate performance versus a challenging 2Q20.\"\nThe bank then breaks down the asset mix of its prop traders, which as of Q2 had some $21 billion in equity investments spread across various sectors, vintages and geographies (mostly the US).\n\nWhich brings us to the punchline: a chart showing what Goldmanhad donewith its equity investments in 2021. Here the bank pulls no punches, making it clear in the title that it has been busy \"harvesting\" its balance sheet equity portfolio. Which, of course, is another word for selling.\nWhat is even more remarkable is just how much Goldman has harvested so far in 2021: as shown below, having started with a $20BN equity portfolio which has enjoyed a $5BN increase in market prices,Goldman dumped a whopping $5.5 billion of its equity assets so far (excluding a modest $1.5BN in purchases) or more than a quarter of its entire portfolio as of Dec 31.\n\nWho is Goldman selling to? Anyone who will buy, but here we would wager thatretail investors - who have been on tilt buying in 2021 - have been the proud recipients of billions in Goldman sales.This, in the financial literature is called the \"distribution phase.\"\nThe sales were so extensive that the topic was brought up on Goldman's earnings call earlier today. In response to a question about Goldman's efforts to reduce its equity investment portfolio, the bank said that it it has \"made progress on improving its capital efficiency and is moving 'aggressively' to manage equity positions, especially since the environment is supportive.\"\nWhat does that mean in English? Simple: Goldman is \"aggressively\" dumping its positions in an environment that is \"supportive\", i.e., in which the dumb money is providing a constant bid into which whales such as Goldman can sell.\nThe last time Goldman was \"aggressively\" selling into a \"supportive\" market? Well, we have to go back all the way to 2007 and 2008 when Goldman was busy creating the very CDOs which its prop desk would then \"aggressively\" short. We all remember how prophetic that particular move turned out to be...\nRelated:\n\nGoldman Sachs: Q2 GAAP EPS of $15.02beats by $5.07.\nRevenue of $15.39B (+15.7% Y/Y)beats by $3.22B.\nReversal of credit losses of $92M.\nOn July 12, 2021, the Board of Directors of The Goldman Sachs Group, Inc. approved a 60% increase in the quarterly dividend to $2.00 per common share beginning in the third quarter of 2021.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5214228,"gmtCreate":1626235079807,"gmtModify":1631891123699,"authorId":3573359276928522,"author":{"id":3573359276928522,"idStr":"3573359276928522","authorId":3573359276928522,"name":"Dave123","avatar":"https://static.tigerbbs.com/efffe8dee569870cacb59635a243862c","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":145401440,"type":1,"supId":0,"prevId":0,"content":"😄","text":"😄","html":"😄"}],"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":247,"commentSize":21,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}