“I’m firmly convinced that [Goldman] will emerge well-positioned.”
That’s some rough shit right there, and it underscores just how dire the situation had become when the bank embarked on an effort to turn things around after an abysmal Q2 performance.
“Cognitive dissonance exists in the US stock market. S&P 500 is up 10% since the election despite negative EPS revisions from sell-side analysts (see Exhibit 1). Investors, S&P 500 management teams, and sell-side analysts do not agree on the most likely path forward.”