It’s a misnomer to believe that [[GS]] will escape the ‘credit crisis’ unscathed. Shockingly, most people believe Goldman is this super human firm, with crystal balls on their trading desks and time machines in their bathrooms.
If you look back in time, you will see that GS is very mortal, indeed. During the 1997-1998 “Asian Contagion”/ LTCM collapse, Goldman was saddled with devastating losses. So great were the losses, it delayed their scheduled ipo.
Thus far, Goldman has managed to dodge a few bullets; but the war is far from over. I would sell short GS, if there wasn’t so many other shitboxes to bet against, however.
Let me remind you, “The Reverse Four Horsemen” are banking coin, in a reverse sort of way. [[FED]], [[FHN]], [[DSL]] and [[CORS]] are heading for a “non-glorious” death.
I’ll have you know, “The Fly” is very close to unveiling a new “Reverse Horseman.” Indeed, if I may be so bold, I will add a 5th horseman.
At any rate, the banks are dying and the fuckers at [[LEH]] are lying. What else is new?
My pair trade of long energy/short everything else is still intact.
With my money, I will sell short more [[LAZ]] and the cowardly cowards at [[COWN]]. And, I will buy more [[FTK]]. If you haven’t figured it out by now, “The Fly” will not rest until he gets his short squeeze in FTK. It seems attainable. I can smell it.
UPDATE: Bears discuss their Goldman short position.[youtube:http://www.youtube.com/watch?v=jdUL4xdCe-U 450 300] If you enjoy the content at iBankCoin, please follow us on Twitter