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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.
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