After the financials collapsed, I had been looking to go long with GS because out of all the remaining banks, GS looked to be the most fundamentally sound. Good P/E and P/B, outperforming competitors like MS and UBS over a 1 year period, and seemed to be tied in with the guys on capital hill (hell, if those financial ceos are going to squeeze taxpayer money from Congress, I might as well try to profit from it, right?).
Anyways, it was the rumored Buffet purchase that convinced me that GS was a good move. I waited until it bottomed and bought in at $70. It's been hovering around the price over the last few weeks.
But the recent earnings forecasts are starting to scare me. Earnings report is out on December 15th and looking at the low trading volume, I think the market is going to have a severe volatile reaction after it's released. Credit Suisse expects a pretty heavy loss, other analysts are averaging out with a loss also.
Should I hold? Is this poor earnings forecast a sign that GS is not ahead of the game like I thought it was? Anyone else own this stock?