Goldman Sachs “Most Admired” in Fortune Survey

Goldman Sachs never fails to inspire strong responses from both Main Street and Wall Street. But on Wall Street, one man's counterparty is another man's adversary.

I am a bit surprised to see Goldman place number ten on Fortune's annual list of America's Most Admire Companies, Main Street must be smitten, and Bethany McLean has has penned a love letter to Lloyd Blankfein. Lloyd is a smart guy, and he is right about one thing. We like to give him a hard time when he deserves it, ie. Global Alpha.

.....Blankfein, 53, knows that Goldman Sachs (GS, Fortune 500), despite all appearances to the contrary, is not invincible. And he wants to make sure that you know that he knows it "I'm always imagining how much worse the headline about Goldman will be when we screw up if we have a quote out there claiming magnificence," he told the firm's managing directors at a meeting in London in October. "People are dying for us to misstep." Fortune

McLean's three year stint at Goldman might have colored her glasses. Another former Goldman alum is not beating around the bushes:

Blankfein is "funny and self-deprecating and can reach across the table and rip your throat out when it's warranted."

Blankfein's humor is on display throughout the article, but is not joking when he grades the firm against its peers. Is Goldman the best firm on the Street?

"I really think we are a little better," he says. "I will fight you if you say we're just like everyone else. But I think it's only a little better. It's not as much as recent events would suggest."

Goldman’s stock has finally caught up to many of its peers, but might be the first broker to consider buying when the credit markets begin to heal.

But this is one of the best pieces written about Goldman in recent memory. Even Ken Griffin is sucking up; no doubt he is looking for Goldman to join him in creating a new futures exchange that will take on the CME Group.

If anyone has a chance at displacing the Merc, its these guys. And if it is successful it will provide another avenue to keep Goldman moving forward.

After all, sharks swim, or die.

The man who must keep Goldman growing
Fortune
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The content contained represent the opinions of 1440 Wall Street. This commentary in no way constitutes a solicitation of business or investment advice. It is intended solely for the entertainment of the reader, and the author.

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