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This is really an amazing financial miscalculation Meanwhile, Goldman Sachs analysts issued a note saying a modeling miscalculation led it to overestimate its profit forecast for Citi. Goldman on Tuesday lowered its prediction of a first-quarter profit at Citi of 15 cents a share to a first-quarter loss of a $1 a share. It also reduced its 2008 full-year profit estimate to $1.35 a share from $2.50 a share.
http://news.yahoo.com/s/a...2tF7ys0NUE Citigroup has a little more than 5 billion shares outstanding. If you do the math, Goldman's "modeling error" changed a $780 million profit to a $5.2 billion LOSS. That's a $6 BILLION SWING. Wow. That was no boating accident. | |
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Yeah, so? |
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I had to bump your thread. It seemed so lonesome. |
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This thread needs a little Don Draper.
I suppose every thread does...  |
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First !
I take it you got stakes in Citi ?  | |
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Exact same thing happened to me once. I went to buy bread and milk and I thought I had enough to get the 4 pinter, but I was 10p short! Had to get another size of milk.
. [Edited 3/5/08 2:46am] |
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This is really captivating me. |
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RodeoSchro said: .
That's a $6 BILLION SWING.  Swingers
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I don't trust any of them, we're all in a downhill spiral! | |
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I really need to wakeup.
I thought the title was "this is really an amazing form of EMASCULATION" 
I need help. no, really. | |
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Imago said: I really need to wakeup.
I thought the title was "this is really an amazing form of EMASCULATION"
I need help. no, really. go get it 
go sooooo fucking get it | |
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nevermind, I thought I was posting on the Craiglist rimming thread... | |
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How many of those companies that were under investigation on 9-11-2001 have been re-investigated since the records were destroyed on 9-11? | |
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roodboi said: nevermind, I thought I was posting on the Craiglist rimming thread...
Spread, baby, spread. |
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It's going to get alot worse, with the mortgage related losses. | |
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OK, OK, I get the message. Finance is boring.
But what is NOT boring is my plan to make $$$$millions from the subprime fiasco. It is now moving straight ahead, and I have committments from several investors. Yay me! | |
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RodeoSchro said: OK, OK, I get the message. Finance is boring.
I love finance. But what is NOT boring is my plan to make $$$$millions from the subprime fiasco. It is now moving straight ahead, and I have committments from several investors. Yay me! 
My boss just order a course for me on Economics. Fiscal Policy and Budget Deficits. The Federal Reserve and its Powers. Exchange Rates. | |
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Stymie said: RodeoSchro said: OK, OK, I get the message. Finance is boring.
I love finance. But what is NOT boring is my plan to make $$$$millions from the subprime fiasco. It is now moving straight ahead, and I have committments from several investors. Yay me!
My boss just order a course for me on Economics. Fiscal Policy and Budget Deficits. The Federal Reserve and its Powers. Exchange Rates. I can save you some time and explain the budget deficit part. It goes like this: budget deficits are bad. fcukthepolice can tell you everything you need to know about the Federal Reserve Bank.  | |
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RodeoSchro said: Stymie said: I love finance.
My boss just order a course for me on Economics. Fiscal Policy and Budget Deficits. The Federal Reserve and its Powers. Exchange Rates. I can save you some time and explain the budget deficit part. It goes like this: budget deficits are bad. fcukthepolice can tell you everything you need to know about the Federal Reserve Bank. 
And fcukthepolice can't tell me a damn thing. | |
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But seriously - how do the sharpies at Goldman miss an estimate by $6 billion? I bet heads rolled. | |
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RodeoSchro said: But seriously - how do the sharpies at Goldman miss an estimate by $6 billion? I bet heads rolled.  | |
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RodeoSchro said: OK, OK, I get the message. Finance is boring.
But what is NOT boring is my plan to make $$$$millions from the subprime fiasco. It is now moving straight ahead, and I have committments from several investors. Yay me! Finance is ONLY boring when your ass is broke. | |
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