Lots of chatter out there regarding the Goldman Sachs memo that came out last night indicating that the firm indeed does front run clients. But hey, according to Charlie Gasparino they were just hedging their positions prudently. News flash for Charlie, when I sell what you buy we are opponents. When I do this and you are my client I am a thug, a thief and a charlatan and totally deserve what is coming to me.
There is nothing more to say about all this except a firm like Goldman, like others on Wall St. manufactures and produces nothing, ergo it is all about the people. You know the smartest people in the room. Suffice to say that in this writer's humble opinion, just as having a stint at Goldman on your CV was a ticket to career stardom on Wall St. previously, it will be a lead albatross around your neck (if not something far worse) going forward. The Gambino's, the Bonanno's and the Genovese's must be absolutely blushing for the chutzpah.
Remember that movie Boiler Room I have commented on so often. There you have Goldman in a nutshell, just much better dressed re: Canali over Mens Warehouse.
Many of you out there may have seen these videos already but just in case you haven't here goes. This first one is of China's empty city of Ordos. Yes, you read that correctly, Ordos is an empty city.
This next video is done by Hugh Hendry manager of the Eclectica Fund on the Chinese economy and property market.
And lastly you can click here for a great PBS video on South China Mall, the world's largest mall and sits almost entirely empty. But hey, don't piss on the great miracle that is China, you surely must not understand it.
Good speculating to you all and please remember to never forget that "an investor is a speculator who made a mistake and will not admit it".
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