The fall of Goldman Sachs (GS) continues with news today that CEO Lloyd Blankfein has hired his own, personal lawyer. The stock fell below US$107. Based on earnings I still feel that Goldman has strong value, but that does not mean that the market will agree. Is Goldman a good company but a bad stock? I sold at US$114 and I am staying away from Goldman, and all US financial companies.
Since I bought Goldman at US$155 in April 2011 it has fallen 30%. For comparison, the S&P is down 15% in the same period.