Thursday, August 13, 2009

Goldman Sachs: Enterprise should review pub valuations

Jolly good news all round really; signs of progress in the city illustrated by Goldman Sachs are a welcome turn of events, even if rather late in the day.

It's high time for city boys to start being honest about pubcos because everyone there has known pubcos are deep in the doo doo for ages but no one's known how to deal with the reality - other than to play around with a bit of shorting here and there while trying to figure out how their clients will cope with the massive financial hit that's coming to their pubco portfolios like a tropical storm heading for hurricane status.

I hope the boards of directors of these high profile basket case companies are checking their underwear frequently for signs of unusual involuntary activity.

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