Goldman turns hedge fund disaster into a winner?


While Goldman Sachs (NYSE: GS) is at the pinnacle of the global financial world, it still has some issues. Perhaps the biggest is the lagging performance of its main hedge fund.

But Goldman is determined to change things on that front. How? Well, ironically, it may get some help from one of the biggest hedge fund disasters.

Last year, Goldman picked up some key traders from the defunct hedge fund, Amaranth Advisors, which lost $6.5 billion in about a week.

According to Greenwichtime.com, Goldman has also taken over the Amaranth lease in Greenwich, CT. The total square feet: 123,074. It makes sense as the facility already has the necessary infrastructure for a major hedge fund – in terms of security, IT and backup power.

However, I'm still not convinced. Could there be some bad karma in that building – perhaps? Then again, isn't the main headquarters of Google (NASDAQ: GOOG) in the former campus for Silicon Graphics, which also went bust?

Goldman shares are trading up 3.25% so far this morning (11:30 a.m.) to $213.21.

Tom Taulli is the author of various books, including the Complete M&A Handbook and the EDGAR-Online Guide to Decoding Financial Statements.
Symbol Lookup
IndexesChangePrice
DJIA-89.2312,801.23
NASDAQ-23.352,903.88
S&P 500-9.311,342.64

Last updated: February 13, 2012: 06:51 AM

Hot Stocks

General Electric

18.875-0.255(-1.33)

Alcoa

10.29-0.35(-3.29)

Apple Inc

493.42+0.25(+0.05)

Google Inc 'A'

605.91-5.55(-0.91)

Bank of America

8.07-0.11(-1.34)

Wal-Mart Stores

61.90-0.06(-0.10)

Exxon Mobil Corp

83.80-1.08(-1.27)

Ford

12.44-0.25(-1.97)

Citigroup

32.925-0.735(-2.18)

IBM

192.42-0.71(-0.37)

Yahoo

16.14+0.14(+0.88)

Starbucks

48.82-0.38(-0.77)

Microsoft

30.495-0.275(-0.89)

Home Depot

45.33+0.06(+0.13)

DailyFinance Headlines

Benzinga Headlines

TheFlyOnTheWall.com Headlines

BioHealth Investor Headlines

WalletPop Headlines

DailyFinance BlackBerry App

My Portfolios

Track your stocks here!

Find out why more people track their portfolios on AOL Money & Finance then anywhere else.

BloggingStocks Partners

More from AOL Money & Finance

BioHealth Investor Headlines

Page Loaded in 1329133875380 ms.