Warren Buffett remains bullish on Goldman Sachs.
Speaking on CNBC, Buffett said that the Wall Street firm 'is a very, very strong well-run business and it's got a place in the universe'. Buffett also praised Goldman CEO Lloyd Blankfein, saying: 'You could not find a better manager'.
In the meantime, The New York Post reports that Goldman looks set to do well out of advising.....wait for it....AIG. The firm is likely to bag a $25m fee for advising on the sale of AIG's Asian unit to Prudential, and another $35m - $50m on the planned sale of American Life Insurance to MetLife. The critics will have a field day.
And MarketWatch reports that Goldman has admitted in its annual report that 'adverse publicity' could have 'a negative impact on our reputation and on the morale and performance of our employees, which could adversely affect our businesses and results of operations'. So there - cut those guys at Goldman, and they bleed after all.
Finally, The Financial Times reports that Goldman's latest SEC filing has revealed that the firm made at least $100m in trading profits on a record 131 days last year, equivalent to once every other day!