Goldman Sachs Drags Down the Dow

Motley Fool Hidden Gems Investing

The Motley Fool

Business, Investing

4.3 • 3.1K Ratings

🗓️ 17 January 2023

⏱️ ? minutes

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Summary

Goldman Sachs Drags Down the Dow The investment bank suffered its worst earnings miss in a decade. (0:21) Jason Moser discusses: - 4th-quarter profits for Goldman Sachs falling 66% - How investments in Marcus and the Apple Card partnership haven't paid off yet - Disney's blunt response to activist investor Nelson Peltz (11:00) Alison Southwick and Robert Brokamp talk with Stephanie Marini, certified financial planner, about what investors need to know how The Secure 2.0 Act affects savings and retirement. Looking to get a jump start on your 2023 financial goals? Our flagship service, Stock Advisor, is open to new members for just $99 a year! Access this special offer by visiting www.fool.com/intro. Stocks discussed: GS, DIS Host: Chris Hill Guest: Jason Moser, Alison Southwick, Robert Brokamp, Stephanie Marini Producer: Ricky Mulvey Engineer: Rick Engdahl Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Now, why is man one said, never bring a knife to a gun fight?
0:09.4	Motley Fool Money starts now.
0:12.0	I'm Chris Hill joining me today, Motley Fool Senior Analyst, Jason Moser.
0:18.7	Thanks for being here.
0:19.7	Hey, thanks for having me.
0:21.6	We are going to get to the latest in the Disney fight in just a minute, but we talked on
0:26.0	Friday about the big banks. Most of them reported, but this morning, we got the fourth quarter
0:31.1	results from Goldman Sachs.
0:32.9	And the headline is that this is the worst earnings miss for Goldman Sachs in a decade.
0:39.5	Fourth quarter profits down 66%.
0:42.7	No one expected their results to be great, but Jason, I feel like this is actually worse
0:47.3	than people had feared.
0:48.8	Is it?
0:50.8	Probably.
0:51.8	I mean, I don't think this really should come as a surprise if we talked about on
0:55.6	Friday with Wells Fargo, Bank of America, JP Morgan, all reporting challenges on the investment
1:02.0	banking front and also taking a bit of a conservative approach, preparing for a potential
1:07.9	downturn, boosting loss reserves to account for that.
1:12.9	And certainly there is a tone of caution on the Goldman Sachs calls.
1:16.3	Well, I think a lot of this, you look at Goldman, I mean, it's far more levered to the investment
1:20.4	banking side of things.
1:21.4	And it's very understandable.
	...

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