In a blistering takedown of his now-former employer, Smith wrote that the environment at Goldman Sachs "is as toxic and destructive as I have ever seen it.
The inflection phase of the oil market continues to deliver its share of surprises, with low prices driving disruptions in Nigeria, higher output in Iran and better demand. However, we expect that the return of some of these outages as well as higher Iran and Iraq production will more than offset lingering issues in Nigeria and our higher demand forecast.
As a result, we now forecast a more gradual decline in inventories in 2H than previously and a return into surplus in 1Q17, with low-cost production continuing to grow in the New Oil Order.
But these forecasts are premised on a Chinese recovery: Stronger vehicle sales, activity and a bigger harvest are leading us to raise our Indian and Russia demand forecasts for the year.
And while we are reducing our US and EU forecasts on the combination of weaker activity and higher prices than previously assumed, we are raising our China demand forecasts to reflect the expected support from the recent transient stimulus.
Net, our oil demand growth forecast is now 1. Our bias for strong demand growth since October leaves us seeing risks to this forecast as skewed to the upside although lesser fuel and crude burn for power generation in Brazil, Japan and likely Saudi are large headwinds this year.
While production growth continues to surprise: While there is much more in the full note, the bottom line is simple:Tag: Goldman Sachs.
Posted on July 25, Antifragile’s mix of analysis, critique and personal memoir would have benefited from an editor but is filled with Taleb’s philosophical insights.
The New York Times published Smith’s op-ed ‘Why I Am Leaving Goldman Sachs’. The Goldman emails were later mentioned in the course of an op-ed article penned by a Goldman Sachs executive director in The New York Times on Mar. 14, titled "Why I Am Leaving Goldman Sachs.
Mar 14, · Inspired by the Goldman Sachs Op-Ed, a post written by ‘Darth Vader’ entailed why the Star Wars supervillain is leaving the Empire.
(Handout) A Goldman Sachs banker's dramatic resignation letter, published in the Op-Ed pages of The New York Times, inspired a wave of parodies on Wednesday as the "Why I am leaving" . On March 14, , more than three million people read Greg Smith's bombshell Op-Ed in the New York Times titled "Why I Am Leaving Goldman Sachs.".
The Goldman Sachs Group, Inc. is an American multinational finance company that engages in global investment banking, investment management, securities, and other financial services including asset management, mergers and acquisitions advice, prime brokerage, and securities underwriting services.
Goldman Sachs today has become too much about shortcuts and not enough about achievement. It just doesn’t feel right to me anymore. I hope this can be a wake-up call to the board of directors.