If you’ve always wished you could get fleeced by a Goldman banker, here’s your chance. Buy some Facebook shares tomorrow – and take the other side of the trade from Golden Slacks!
Shocking, I know – Goldman got a special deal on FB shares on the secondary market a year ago, when FB carried a $50 billion valuation. Now that it’s going tomorrow in the $100-125 billion range, GS is (probably wisely) dumping half its stake.
Bloomberg reports on Goldman’s latest public swindle (though I don’t blame Goldman on this one – it’s not their fault the public is willing to pay 100 times earnings for FB).