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Believing Blankfein
Who are you going to believe when it comes to sentiments about the global economy? How about Lloyd Blankfein.
Blankfein, the CEO of Goldman Sachs, told Wall Streeters today that the investment bank was “starting to feel improvements in CEO confidence.” This is telling because the core of Goldman’s business model is co-investment. Arguably, there is not another investment bank on Wall Street that is so active in co-investing with its clients.
Blankfein backed up the comment with a description of Goldman’s robust action plan.
“Our business is not as leverage-driven as conventionally thought,” he said. “Also, our ROEs are so high that we can still maintain our target, even if our returns are lower. I am comfortable that we have flexibility on all these measures.”
More stories on Goldman Sachs.
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