Please be advised that we are removing Goldman Sachs from Investing Ideas today. Shares of Goldman have risen 3.6% since being added on 3/25 versus a 0.78% return for the S&P 500.
Below is a brief note from Hedgeye CEO Keith McCullough on the decision.
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GS was a catalyst driven way (we thought they’d have a great quarter, and they did) to build up our Investing Ideas list when the US stock market was oversold. Now that a bad headline GDP report and an easier Fed are priced in, I want to reduce the size of the list – and this is one way to express that.
Our fundamental research view on Goldman Sachs (GS) has not changed. This is a portfolio/market timing call. Its generated the alpha we wanted.