"It’s not a stock that I’d prefer – I think it’s a different company then it was 10-years ago and I think the op-ed is indicative of that."
That’s what top money manager Jamie Cox of Harris Financial has to say about Goldman Sachs as the Fast Money crew mulled over a controversial editorial in the New York Times titled “Why I Am Leaving Goldman Sachs.”Penned by Goldman executive director Greg Smith, the op-ed makes scathing comments about the firm.
“It makes me ill how callously people talk about ripping their clients off. Over the last 12 months I have seen five different managing directors refer to their own clients as “Muppets,” says Smith in the editorial
Because of these and other comments, money pro Jamie Cox suggests putting money to work in other financials – not Goldman Sachs.
Fast Money trader Stephen Weiss however doesn't agree; he has trouble devising a trading thesis on the commentary of one banker.