Goldman Sachs: Too Late To Buy


  • Goldman Sachs shares have seen significant capital appreciation, up more than 50% since October lows.
  • The company’s Q1 earnings showed higher revenues, particularly in the Global Banking & Markets segment.
  • The stock’s high valuation and reliance on the macroeconomic environment make future returns less compelling at this price point.
  • Goldman’s big increase in market making revenues, and hopes on the future of investment banking do not justify current valuations.

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Goldman Sachs (NYSE:GS) has been, without a doubt, one of the most important financial institutions in history. Since the October lows, Goldman shares have seen significant capital appreciation, up more than 50%, and have outperformed its Banking ETF benchmark by close to 9%.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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