On Tuesday, almighty Goldman Sachs (NYSE: GS) reported record earnings for the umpteenth time. And, as usual, the company's earnings report was the biggest story of the day (there are already more than 40 different takes on this news from major news sources). I won't waste your time with all the intricate details; I'll summarize by saying I'm not impressed. Sure, I respect Goldman as the best of breed company in their sector -- not that it's very difficult to outperform writedown-loving Merrill Lynch (NYSE: MER) and Morgan Stanley (NYSE: MS) -- but c'mon, for all their pedigree, their stock stinks!

No matter the record $3.17 quarterly profit and the incredible amount of hard work put in by the company's 34,809 full-time employees, based on Tuesday's closing price of $201.51, Goldman's stock is nearly $50 off its highs and up only 79 cents per share, from $200.72, since the beginning of 2007. Again, better than their competitors, but in terms of stock performance, aka the only thing that matters to investors -- pathetic.

That's right, let all the talking heads and journalists report on Goldman's results and debate what it means for the financial sector, the economy, the fate of the world, etc., I care only about their stock. So, I say don't let this company's solid business performance and widespread popularity fool you, there are bigger issues in play here that will continue to haunt this stock. With the mounting uncertainty over the housing market, consumer debt, the economy, and this tired-looking bull market, there are far more interesting stocks out there and if you're comfortable with short selling, then even Goldman's competitors become better plays because their stocks at least exhibit a clear trend (a perfect downtrend that is)!

Timothy Sykes writes the blog timothysykes.com, is a former hedge fund manager, the star of the TV show Wall Street Warriors and author of the book, An American Hedge Fund: How I Made $2 Million as a Stock Operator & Created a Hedge Fund