July 2005
Investment banking: Goldman suffers from over-exposure to hedge funds
The US firm's business mix is making it more difficult to bring success in the primary markets
Has Goldman gone too far down the hedge fund path? That question is not directed at its latest trading results, although its strength with hedge fund clients as much as its reputation for proprietary trading both played their part in Goldman's trading earnings falling 43% between the first and second quarters.
Rather it's a comment on Goldman's recent performance as an underwriter of equity deals. Whether France Telecom in Europe, or Lazard, Boise Cascade...
This is archived content. Your current settings does not currently allow access to the archive. To gain access visit the subscription page or call our hotline on +44 (0)207 779 8999.
If you are a trialist or subscriber, please enter your username and password at the top right-hand side of euromoney.com
Subscribers to Euromoney benefit from:
Level 1:
- Online access to the past 12 months content
- Tailored RSS news feeds direct to your desktop
- News delivered directly to your mobile device or PC
- Personalised email newsfeed of 'Top stories' and 'Breaking news'
Level 2:
- Exclusive access to euromoney.com - Read the latest issue early online, search for specific developments by region or sector, interrogate the results of Euromoney's benchmark polls, and view the archive dating back to 2000
- 12 monthly issues of Euromoney magazine
- More than 30 specialist research guides free
- The results of Euromoney’s polls and surveys
- Tailored RSS news feeds direct to your desktop
- News delivered directly to your mobile device or PC
- Personalised email newsfeed of 'Top stories' and 'Breaking news'
Click here to subscribe