Goldman Sachs and the Importance of Good Timing

2009-08-31

Both of these stories came into my Inbox today:

Goldman Sachs Says China Stocks Remain 'Bright Spot'

China stocks remain “a bright spot” among global equities because of the nation’s strong growth potential, Goldman Sachs Group Inc. said.

“We think the market concerns about a near-term ‘exit strategy’ appear premature as the government remains pro- growth,” Thomas Deng and Kinger Lau, analysts at Goldman Sachs, wrote in a research note today.

Chinese Shares Plunge 6.74%

The benchmark Shanghai Composite Index fell 6.74 percent, or 192.94 points to finish at 2,667.75. The Shenzhen Component Index declined 7.55 percent, or 864.99 points, to end at 10,585.09.

No further comment is needed, I suppose, other than to restate my distaste for financial services firms that continue beating the bushes for investors and talking up a market that is obviously experiencing a bubble.

That's simply not responsible behavior.

Tags: China Business & Economy, Shanghai Composite Index