16-04-2010, 08:40 PM
Meanwhile, here's what world class Goldman Sachs insight and astuteness can do for your money. :top:
Quote:Goldman Sachs Real Estate Fund Vaporizes 98% Of Client Capital
A Goldman Sachs real-estate fund, Whitehall International, has incinerated almost all of the $1.8 billion invested in it.
Remarkably, it's not just Goldman clients who have gotten hosed: Goldman itself invested $436 million in the fund, 98% of which is now gone.
The culprit?
Highly leveraged bets on international real estate.
(The good news for Goldman is that the fund was launched in 2005, which means the firm probably collected 5 years of asset-management fees on the capital. Assuming a standard 1%-2% fee on invested client capital (call it 1.5%), that's ~$100 million of fees over the life of the fund. So that mitigates the loss somewhat.)
Read more: http://www.businessinsider.com/henry-blo...z0lIHQGIlC
"It means this War was never political at all, the politics was all theatre, all just to keep the people distracted...."
"Proverbs for Paranoids 4: You hide, They seek."
"They are in Love. Fuck the War."
Gravity's Rainbow, Thomas Pynchon
"Ccollanan Pachacamac ricuy auccacunac yahuarniy hichascancuta."
The last words of the last Inka, Tupac Amaru, led to the gallows by men of god & dogs of war
"Proverbs for Paranoids 4: You hide, They seek."
"They are in Love. Fuck the War."
Gravity's Rainbow, Thomas Pynchon
"Ccollanan Pachacamac ricuy auccacunac yahuarniy hichascancuta."
The last words of the last Inka, Tupac Amaru, led to the gallows by men of god & dogs of war