May 5, 2016
Goldman Sachs thinks the Street is wrong about April jobs
Goldman experts, however, were unswayed by the ADP disappointment. The firm expects Friday's nonfarm payrolls report to show growth of 240,000, well above the Street expectation for 200,000 and an upward revision to Goldman's already bullish call for 225,000.
The actual number of jobs added was 160,000.
On the one hand, Goldman Sachs was right that the Street was wrong.
On the other hand, Goldman Sachs was more wrong.
And on that third hand, how much will Goldman Sachs earn with their hypothetical short position of the overall stock market today? In other words, do what we publicly say, not what we privately do?
Two out of three hands agree. Goldman sucks.
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