Equity research - The Goldman Sachs Group, Inc.

Mestrado em FinançasEste relatório contém uma avaliação do grupo financeiro The Goldman Sachs Group, Inc., elaborado como Projeto Final do Mestrado em Finanças do ISEG - Universidade de Lisboa. O estudo segue o formato recomendado pelo CFA Institute (Pinto, Henry, Robinson, e Stowe, 2010). Para efetuar a avaliação, foi considerada informação pública a 5 de outubro de 2017, recolhida de diversas fontes, tais como relatórios anuais ou Bloomberg L.P. Consequentemente, eventos ocorridos após esta data não são considerados nesta análise. As razões que levaram à escolha da Goldman Sachs foram essencialmente duas: devido à complexidade que empresas financeiras apresentam, é um maior desafio quando comparando com empresas industriais (como realizado durante o mestrado); e é, na opinião do autor, uma das empresas mais interessantes a nível mundial por toda a sua história, controvérsias e poder nos principais mercados financeiros. Para obter uma recomendação, foi utilizado um modelo de Excesso de Retorno para valorizar o capital próprio do banco e uma avaliação por múltiplos para complementar o modelo principal. Com um preço-alvo de $230.25 e potencial de desvalorização de -5.0$ 242.55, a nossa recomendação final para The Goldman Sachs Group, Inc. (NYSE: GS) é "Reduzir".This report encompasses a valuation of The Goldman Sachs Group, Inc. elaborated as a Master's of Finance Final Work Project at ISEG - University of Lisbon. The study follows the format recommended by the CFA Institute (Pinto, Henry, Robinson, and Stowe, 2010). To conduct this research, we considered public available data on October 5th, 2017, collected from various sources, such as company reports and Bloomberg L.P., among others. Therefore, events after this date are not reflected in this analysis. We decided to conduct a valuation of Goldman Sachs for two main reasons, them being: conducting this type of work on financial service firms represents, in my opinion, a greater challenge compared to industrial companies (as it was previously performed during the master degree); the second reason is because, in my opinion, The Goldman Sachs Group, Inc. is one of the most interesting companies in the world for all its history, controversies and power in the major financial markets. To reach a recommendation, we used an Excess Return model to value the equity of the firm, as well as a multiples analysis to complement the previous model. With a price target of $230.25 for YE18 and a downside potential of -5.0$ 242.55, our final recommendation for The Goldman Sachs Group, Inc. (NYSE: GS) is "Reduce".info:eu-repo/semantics/publishedVersio

Alternative Energy: Global Public Policy and Regulatory Challenges , Goldman Sachs Symposium

Alternative Energy: Global Public Policy and Regulatory Challenges , Goldman Sachs Symposiu

Catalyzing Growth in the Women-Run Small and Medium Enterprises Sector (SMEs): Evaluating the Goldman Sachs 10,000 Women Initiative

This document presents ICRWs initial (qualitative) evaluation of the Goldman Sachs "10,000 Women" initiative in India to identify early results of the program on women entrepreneurs' business skills, practices and growth. Launched in 2008, the initiative?aims to provide 10,000 women who run small and medium-sized enterprises (SMEs) with high-quality business and management skills training

Goldman Sachs Investment Report

This presentation is an investment report of Goldman Sachs. It takes a position on the future of the company and explains the reasoning

What\u27s a Nice Company Like Goldman Sachs Doing in the Supreme Court? How Securities Fraud Class Actions Rip Off Ordinary Investors - And What To Do About It

This essay considers the issues raised in the latest securities fraud class action to reach the Supreme Court—Goldman Sachs v. Arkansas Teacher Retirement System— and finds that the claims asserted therein against Goldman Sachs on behalf of open market buyers of its common stock are claims that should have been asserted on behalf of Goldman Sachs (by means of a derivative action) and against the individuals who caused the losses at issue. The losses suffered by individual buyers of Goldman Sachs stock during the extraordinarily long forty-month alleged fraud period are minimal if they exist at all. Moreover, the law is quite clear that claims on behalf of the company arising from the same constellation of facts should take precedence over any claims on behalf of individual buyers. Yet the practice that has evolved is the opposite: class claims take priority and company claims are settled for nonmonetary governance reforms of dubious value rather than for real money. The forces that have led to this classic example of market failure are both fascinating and sinister. But the bottom line is that ordinary investors—such as investors in well diversified mutual funds and index funds—end up losing far more than they gain from class actions. Indeed, index fund investors effectively pay out about twenty dollars for every dollar they recover. Thus, the best hope for reforming the system is for index funds to step up and intervene to assert the interests of diversified investors in favor of litigating such claims as derivative actions rather than as class actions

College of Business News

New Development Director Joins Parker College Kassi Hyde, Vice President, Wealth Advisor at Goldman Sachs, Addresses Finance Student Organization

3 Hired by Goldman Sachs

Congratulations to three Huntsman students who recently received full-time offers as financial analysts in the highly sought after Investment Banking Division of Goldman Sachs. The Huntsman School of Business placed three students in the Investment Banking Division in the GS Salt Lake City office. The only other school that placed more than one student with GS-SLC was Denver University, with the placement of two students.https://digitalcommons.usu.edu/huntsman_news/1258/thumbnail.jp

2015 Macro Trends

While it is still early, Goldman Sachs has posted its 10 market themes for 2015. These may be useful in top-down analysis. See article here, Barrons

Fund Manager Performance

Fund managers, on average, have historically trailed the broad market. However, this year has been exceptionally bad for managers, with only 23% of large-cap funds outperforming the index. See this article (WSJ) for some explanation from Goldman Sachs