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Goldman: Any Further Significant Weakness Is A Buying Opportunity
Markets were choppy again Wednesday as January's epic swings continued unabated.
Needless to say, traders were looking to the Fed for answers after weeks of speculation about the likely scope of the forthcoming tightening cycle.
US equities have never suffered a worse start to a calendar year, a testament to the notion that the pain threshold vis-à-vis rising bond yields (and particularly real rates) is lower over time. Like everything else, that's a self-fulfilling prophecy. The lower real y
The reason I don’t like Goldman (or any other Wall Street firm) is 2 fold-
First, when I was much younger (from an age perspective), I worked as a CPA on a number of big IPO’s and saw, first hand, how those people behave. Ruthlessly in pursuit of money- and for themselves, not their clients.
Second, the institutions that advise on “how one should invest in the market” remind me of my first boyfriend out of college. He alternated between “scaring me to death” and “calming me down with the promise of safety”. Needless to say, but that did not last.
“Goldman’s Peter Oppenheimer wrote, in a new note that garnered a fair amount of media attention. He went on to suggest the upcoming policy “adjustment” is now “reflected” in markets and described potential downside risks as “much lower” assuming “economies can grow.””, is a prime example of the schizophrenic on-and-off again flim-flam Bloomberg.com has been pumping out of late. Comparing apples and oranges in the same sentence. Vagaries about extremely short-term Market ‘movements’ (which one exactly?) linked to as yet unknown long-term drivers like growth rates of massively complex entities is supposed to offer guidance for the next how many hours? Somebody having doubts about laying on to many puts?
Is the “5000 years” some sort of call out (virtue signaling great learnedness I suppose) to David Graeber? Where I’d go for guidance to the next 24 hours in this Market. For sure.
How anybody can delude themselves into making sense of that mishmash is what sort of interests me. Guess I’ll have to wait for @Jyl to lay this guy out on the couch for a session.
In the meantime, it sounds to me like Goldman’s mouthpiece is saying, ‘relax guys, the Bull’s just taking a well deserved fecal break’, or, as H diplomatically cobbled together the bits into this Frankensteinesque quote, “Ultimately, Goldman’s view is that markets “are in a correction within a bull market cycle.” This is, Oppenheimer said, “the early part of the Growth phase” and although “returns will likely be low from here,” the bull market will trudge on, assuming respectable economic growth.”
I see @Emptynester is up early. How were the worms? Am I safe now?