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Strategies & Market Trends : Graham and Doddsville -- Value Investing In The New Era
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To: Freedom Fighter who wrote (396)6/16/1998 7:20:00 PM
From: porcupine --''''>  Read Replies (2) of 1722
 
> From: WCrimi@aol.com
> Date: Tue, 16 Jun 1998 19:00:44 EDT
> To: gadr@nyct.net
> Subject: Your thoughts?
>
> Reynolds,
>
> ... even
> you have to think it is somewhat poetic that Goldman Sachs is
> cashing in and Abby is still out there daily talking up the
> market with her highly questionable interpretations of the
> valuation data.

> I always welcome declining prices as a chance to
> do some buying, but never in my life did a pray for I bear market
> the way I hope one shows up now before their offering!

> If they
> cash in and then the public gets screwed down the line it will be
> the height of Wall St. evil.

Someday, Goldman's going public may be looked back upon as the Mother of all Bear Market signals.

But, just to be the devil's advocate, suppose Goldman feels it needs more money to compete with giant financial multinationals. If so, it would only be good business judgment to raise money when Mr. Market is accommodating, rather than waiting until he isn't.

This wouldn't necessarily require that Goldman believe that the Market is at a top. Instead, they may believe that the Market will continue to rise, and that they better have a larger capital base for competing in it.

I believe this is the underlying economic rationale for all of the other great Wall Street partnerships having already gone public.
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