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02 Dec 08

Speculation Goldman Sachs Group Inc. will report a loss of as much as $2 billion shook Wall Street on Tuesday
At the start of June, rumors began to circulate in the business press that Goldman's profit could fall as much as 30%
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- When earnings came out June 17, Goldman's profit had slid only 11%, and shares reached $186.93 the next day, their highest price since early May.
- in March, the same pattern emerged. Goldman earned $3.23 a share, topping Wall Street's consensus estimate of $2.57 a share
- Goldman is not simply managing profit expectations. It's unwinding big-bet trades as it seeks to become a commercial bank. Goldman is writing down the value of assets. Its business is changing.
- expectations for the bank in the long run that count most.