goldman gives short term tips to certain clients

goldman sachs is making headlines with the juicy tidbits from their “trading huddles” being shared amongst only their top clients. these weekly trading huddles last about an hour and are more or less brainstorming sessions between analysts and traders where they share ideas and speculate on short term market movement. regulators are concerned that these calls put some clients at a disadvantage. goldman wasn’t offering one set of advice to one group of clients and contradictory advice to another or even short-term advice that contradicted long-term strategy according to steven strongin, goldman’s stock research chief.  but these seem to be quite dubious sentiments. we are meant to be reassured by the fact that traders were not eligible to act on the information until it had been disseminated to clients. but which clients would that be? a spokesperson for goldman has acknowledged that if any information could lead to a revised price target or earnings estimate they would send it to all clients but the discussions were not that pointed.

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