Reuters was the first major news outlet to report that Goldman Sachs appears likely to post its first ever quarterly loss as a public company, based on declines in the company’s assets. The Wall Street Journal took a full six days to catch up. Reuters Oct. 31 analysis went a step further to explain why the expected loss might signal that Goldman Sachs is overvalued relative to peers, making Reuters’ piece one that investors could trade on. Goldman’s shares dropped more than 25 percent in the following six trading days.
Reuters ahead with Goldman’s increasingly weak outlook; shares slide
31 October 2008, 12:00 am. 1 minute
Type: Reuters Best
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