The financial markets are in bad shape and things aint getting better. Today Merrill Lynch slumped to the biggest loss in its 93 year old history! It was pummelled by almost an $8 billion liabilities from the subprime credit mess in the market. Look at this video and see how the top analysts baulk when this guy Peter Schiff puts down the financial stocks! As for Goldman Sachs – the stock that everyone seems to be recommending in the clip – here is today’s news:
‘It was a bad quarter and worse than anything we would have expected,’ said Goldman Sachs (NYSE:GS) analyst William Tanona in a research note.
This is one reason why I hate any analyst on the TV or media… they have very little idea what they are talking about. Even the mighty Jim Cramer is only 50% there!
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