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 and IHS in the US, in the last couple of months Goldman has been involved in some of the more high-profile bad deals, as well as presiding over deals pulled at the last minute.
Thanks for your interest in Euromoney!
To unlock this article:
