Goldman 13F is out.
http://www.sec.gov/Archives/edgar/data/886982/000076999309001011/f13f200903.txt
The very interesting thing here is that Goldman is breaking down their holdings based on values of Calls and Puts.
Always Hedge Baby!
Positive on SPY - Liquidity Game
Positive on JPM - Why not?
Positive on XRT - Retail
Positive on EAFE
Negative on the NASDAQ
Negative on Wells Fargo
Negative on PNC Bank
Negative on Mastercard - Means GS is negative on credit trends?
Negative on AIG
Negative on FXE - Is GS expecting Euro Weakness? Should we go long USD?
We really don't know how these call/puts play out because we don't know the delta hedging techniques that GS is engaged in, but what is interesting here is how transparent GS is.
Whats next? They break out their Naked CDS holdings? That would be something.
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