Wednesday night, Goldman Sachs announced "Stay away from banks bearing commercial property". Well, that should push the market lower Thursday, we'll see.
But what disturbs me is Goldman always has an edge, advanced knowledge of what is to come. Goldman being candidly honest that banks involved in commercial real estate are in trouble, is disturbing. Not the news, to me thats old news, but that Goldman is stating this publicly.
To me, that means there is a "trick" in the weeks ahead, such as the US government actually BACKING commercial real estate. In any event, one thing we can all agree, whether a blogging critique such as myself, OR a bank holding company (goldman is no longer an investment bank), hold securities backed by commercial real estate is a loser........for now.
As a part 2, just a chart of SPX 500 where we stand now.
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| From WebSurfinMurf's Financial Blog |
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