How the Rich Get Richer
In a week that U.S. Investors are selling shares in New Century Financial Corp. and other subprime mortgage lenders (at a loss) for fear that the housing and subprime mortgage industry is collapsing, the Wall Street Journal reports that Goldman Sachs Group Inc. is looking to go deeper into the subprime mortgage business.
I looked this up- Goldman Sachs made $12.73 BILLION dollars in the last financial quarter. Suffice to say, they know how to make money.
If institutions that have a track record of being profitable are going deeper into a troubled industry while the average investor is fleeing it, what does that say about the average investor?
I looked this up- Goldman Sachs made $12.73 BILLION dollars in the last financial quarter. Suffice to say, they know how to make money.
If institutions that have a track record of being profitable are going deeper into a troubled industry while the average investor is fleeing it, what does that say about the average investor?
Labels: Investment strategy
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