Monday, October 5, 2009

Goldman Sachs Upgrades Financials (Thus Upgrades Itself)

Bloomberg reports that Analysts at Goldman Sachs have upgraded the financials sector attractive from neutral, thus they have upgraded their own sector. XLF is up 1.3% in pre-market.

We know that banks can borrow at zero % and lend at 4%, and thus can make lots of free money, thanks to the Fed, and to the crisis they themselves created:

GS upgraded Wells Fargo (WFC) to buy, and Capital One (COF) was added to their "Conviction Buy" list! Amazing.

Next we may see JPM upgrading GS.

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