Motley Fool Money: 07.17.2009
Motley Fool Hidden Gems Investing
The Motley Fool
4.3 • 3.1K Ratings
🗓️ 17 July 2009
⏱️ 17 minutes
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| 0:00.0 | Welcome to Motley Full Money. I'm Chris Hillen. I'm joined by Motley Full Senior |
| 0:07.4 | analyst Seth Jason James early and Shannon Zimmering. Guys, happy Friday. |
| 0:11.5 | Happy Friday Chris. All right, a lot to get to this week. Coming up. |
| 0:14.7 | Walmart gets in on the green scene and Google's cloud rains all over Twitter. |
| 0:19.9 | We'll get to those stories. Check the latest news from Apple and as always we'll |
| 0:23.7 | share three stock ideas. But we begin with big news from the big banks. Bank of |
| 0:29.1 | America city group Goldman Sachs and JP Morgan all reported big quarterly |
| 0:34.2 | profits this week. Turns out guys that there's actually still big |
| 0:37.8 | money to be made in trading in financial products and in helping |
| 0:41.4 | companies raise money. James, let's start with Goldman. Record profits just |
| 0:47.1 | six months after reporting its first loss as a public company. They got a big |
| 0:52.0 | old chunk of tarp money last year and now they're rolling in the dough this |
| 0:56.0 | year. Amazing turn around. How did it happen? Well, I think you kind of answered |
| 1:00.0 | your own question Chris. I mean, they got the tarp money and they're partially |
| 1:03.6 | betting with house money. But and let me say that all the haters out there |
| 1:08.6 | are saying my gosh, what a shame they're making all this money. But you know, |
| 1:12.0 | that was the point of the bailout was to give them money to try and go do |
| 1:15.3 | this stuff. Congress, Paulson, nobody knew with the time this was being planned |
| 1:19.6 | that the market would suddenly turn around for investment banking like it has. |
| 1:23.2 | Investment banking is a very cyclical market, |
| 1:26.1 | dependent on on on trading volume. And let me clarify two things very quickly. |
| 1:30.4 | First, there's a difference between investment banking and commercial banking. |
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