With about 10 minutes to go it looks like GS will close around $161.
Figure an 8 P/E on the Billion alleged here and the stock makes back about half today's loss. Trader-think, on-the-fly.
Original post:
It's a nasty, nasty business but I don't think Goldman pays a price as big as the loss in market cap.
[I think he's saying 'Buy' -ed]
From Bespoke Investment Group:
$1 Billion Turns Into $14.5 Billion
The CDO involved in the Goldman lawsuit cost investors on the wrong side of the trade about $1 billion. Goldman Sachs (GS) is down $25 at the moment, which translates into $14.5 billion of market cap. Are these charges going to cost Goldman $14.5 billion?
The stock was recently at $162.66 after trading as low as $155.55.
Sell the puts and use the proceeds to buy the calls.
