Goldman Sachs, Illegal Market Manipulation, and Short Squeezes via TheLongShortTrader
In 2011, the U.S. Senate Permanent Subcommittee on Investigations said Salem and other Goldman Sachs Group Inc (NYSE:GS) traders tried to manipulate prices of derivatives linked to subprime home loans in 2007 for their own benefit. The subcommittee’s assertions were based in part on Salem’s self-evaluation, in which he wrote “we began to encourage the squeeze with plans of getting very short again after the short squeeze caused capitulation of these shorts.”
At this year's inaugural London Quality Growth Investor conference, Denis Callioni, analyst and portfolio manager at European investment group Comgest, highlighted one of the top ideas of the Comgest Europe Growth Fund. According to the speaker, the team managing this fund focus on finding companies that have stainable growth trajectories with a proven track record Read More
Goldman Sachs Group Inc (NYSE:GS) denied any attempted manipulation.
“The translation of that sentence is, you know — is very different than it was, at times, made out to be,” Salem said at the hearing. “There’s no wrongdoing in that sentence.”