Goldman says Brent crude will hit $130

China Diapers

Established member
536 35
Self-fulfilling prophecy?

Goldman Sachs has called a bottom to the correction in commodity markets, advising clients to buy oil, copper and zinc after a 9 per cent price fall since the start of May.
and

Last month, the bank caused a stir when it recommended cutting exposure to commodity markets, arguing that oil prices had “pushed ahead of where fundamentals currently suggest”. A few weeks after Goldman’s bearish call, commodities suffered one of their sharpest one-day falls on record, with oil falling by up to $12 a barrel in a day.
http://www.ft.com/cms/s/0/bbf15300-85e7-11e0-be9b-00144feabdc0.html#axzz1NGmIxrQj
 

DashRiprock

Experienced member
1,650 482
i always thought the clients who followed all of their calls like this consistently lost money
 

meanreversion

Senior member
3,398 535
Careful here, Goldman are evil. They're constantly trying to make money. Banks attempting to make profits should be banned .... look at the fine examples we have in this country, with Lloyds and RBS.
 

DashRiprock

Experienced member
1,650 482
there was that contango a while ago werent there where you could rent a capesize, fill it with oil, park it in a harbour and sell it fwd
 
L

Liquid validity

0 0
Shorting subprime bonds anyone? (google it with the appropriate banks name if you are unaware and live under a rock...)
I'd take it with a pinch of salt about the size of a russian salt mine TBH...
 
B

Black Swan

0 0
hmm...I dunno, obviously you can't trust them given their open histroy of taking the other side of their clients' bets but on this they're so politically connected it could be a signal that ground forces will have to go into Libya thereby stirring up a hornet's nest even further.
 
L

Liquid validity

0 0
Its not so much that I think oil will go the other way, just that whatever happens,
I would not be inclined to listen to a bank that builds a bandwagon then sets fire to it once everyone is on...:devilish:
 

amit1986

Experienced member
1,100 66
Its not so much that I think oil will go the other way, just that whatever happens,
I would not be inclined to listen to a bank that builds a bandwagon then sets fire to it once everyone is on...:devilish:
Banks job is to make money. They didn't become Goldman Sachs by playing it safe and looking out for others' interests. Smart people know how to take advantage of an opportunity when they see it and capitalize. Nothing emotional.
 

dmt257

Active member
220 9
Maybe they know something about QE post June?

I don't think I could ever trust these shysters anyways.
 

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