Has GS ever been good at getting positive returns for its clients?
http://online.wsj.com/article/SB10001424052748703…
I have come to the conclusion that letting GS manage your money is akin to just setting it on fire.
I mean, they have a fund which has 1 bb AUM and they still can't get a positive return. GS should just shut down their Asset Mgmt. business and focus on helping clients do M&A transactions which dilute shareholder value.
1 - GSAM has $750B in AUM and they should shut down because an AR fund supposedly underperformed?
2 - The fund has a one year track record. One year! You can't judge a manger (for the most part) over such a short time frame.
...And the Randolph Hearst Award for Sensationalism goes to RedHill.
It's one fund.
GSAM is an asset-gather rather than an alpha-generator. Goldman has never been particularly good at investing, whether you look at Global Alpha recently, or Goldman Sachs Trading Corp in the 1920's. It's simply not what the firm does well.
I worked there and did not buy stock, the bonuses dilute the earnings.
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