{"id":2827,"date":"2011-01-13T04:11:30","date_gmt":"2011-01-13T11:11:30","guid":{"rendered":"http:\/\/www.jasonapollovoss.local\/?p=2827"},"modified":"2018-08-16T17:18:37","modified_gmt":"2018-08-16T21:18:37","slug":"goldman-sachs-misunderstood","status":"publish","type":"post","link":"https:\/\/jasonapollovoss.com\/web\/2011\/01\/13\/goldman-sachs-misunderstood\/","title":{"rendered":"Goldman Sachs misunderstood"},"content":{"rendered":"

Last spring it came to light that a unit of investment banker, Goldman Sachs, was selling a mortgage backed security (MBS), while simultaneously an analyst at Goldman Sachs was recommending that the firm’s clientele sell the security.\u00a0 To the general public this situation appeared outrageous.\u00a0 Shares in Goldman Sachs plummeted as investors were certain that Goldman was going to have its feet held to the wrath of the Federal Congressional fire.<\/span><\/p>\n

From the beginning though, the general public misunderstood this story.<\/span><\/p>\n

First of all, that two units of Goldman Sachs were in disagreement with one another is a healthy sign of independent thinking.\u00a0 The predominate reason for the public’s outrage is that they view Goldman Sachs, and many businesses, as a personality.\u00a0 That is, they see Goldman Sachs as a person.\u00a0 This is a massive oversimplification and is similar to the public’s anthropomorphizing of financial markets<\/a>.<\/span><\/p>\n

Goldman Sachs is the name of a business that houses people with various responsibilities, selling various products.\u00a0 That Goldman allows people within its organization to publicly disagree with one another is commendable, not reprehensible.<\/span><\/p>\n

The next issue that investors, not the public, misunderstood, is the degree to which the Federal Government would hold Goldman accountable.\u00a0 As a former professional investor myself I knew that all Wall Street firms engaged in similar practices.\u00a0 How could the Feds single out Goldman Sachs without shining light on all of Wall Street?\u00a0 They couldn’t.\u00a0 And what was the context?<\/span><\/p>\n

It was an election year in 2010, the Feds were wanting to demonstrate to the American public that it was okay to start to trust the financial system again.\u00a0 So it was my intuition that Goldman Sachs was massively oversold.\u00a0 Therefore, I purchased shares in the storied investment bank at a deeply discounted price.<\/span><\/p>\n

My point?\u00a0 Independent thinking, a combination of analytical rigor and intuitive insight, is potent!\u00a0 These are the very issues that I discuss in The Intuitive Investor: A Radical Guide for Manifesting Wealth<\/a><\/span>.<\/span><\/p>\n

 <\/p>\n

Jason<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Last spring it came to light that a unit of investment banker, Goldman Sachs, was selling a mortgage backed security (MBS), while simultaneously an analyst at Goldman Sachs was recommending that the firm’s clientele sell the security.\u00a0 To the general public this situation appeared outrageous.\u00a0 Shares in Goldman Sachs plummeted as investors were certain that […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[3],"tags":[],"class_list":["post-2827","post","type-post","status-publish","format-standard","hentry","category-the-blog"],"_links":{"self":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/posts\/2827","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/comments?post=2827"}],"version-history":[{"count":0,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/posts\/2827\/revisions"}],"wp:attachment":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/media?parent=2827"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/categories?post=2827"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/tags?post=2827"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}