Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: bearshark who wrote (15407)	3/30/1998 7:38:00 PM
From: Mike McFarland	Read Replies (1) of 94695

For those of you who frequent the Roger's short picks thread, you've already seen this. I posted it while there was a discussion going on about who was responsible for the great crash. On a day where everybody is so nervous, it sets a nice creepy mood. After the crash... "Years later, on a gray dawn in Washington, the following colloquy occurred before a committee of the United States Senate. Senator Couzens: Did Goldman, Sachs and Company organize the Goldman Sachs Trading Corporation? Mr. Sachs. Yes, Sir. And it sold its stock to the public? A Portion of it. The firm invested originally in 10 per cent of the entire issue for the sum of $10,000,000. And the other 90 per cent was sold to the public? Yes, sir. At what price? At 104. That is the old stock...the stock was split two for one. And what is the price of the stock now? Approximately 1 3/4." --I took this from the last paragraph of the chapter "In Goldman, Sachs We Trust" from Galbraith's book, The Great Crash.

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