Goldman's quarter was a blowout: $17 a share vs $13.65 expected, equities revenue up 72%, record advisory fees, no CEO succession transition underway. But the stock gapped up 4% and closed on the lows — not what you want to see, though it is only one day.

let's do Goldman because that was a blowout. $17 a share versus 13 $13.65 expected. Revenue was its second highest quarterly revenue number ever at 18 spot 68 billion. Equities revenue was up 72% and equity financing hit a record up 96%.

Advisory fees 1.7 billion, another record. Um, they just seem to be crushing it all across the board.

First of all, I hate the stock reaction. Like I I was optimistic on banks going into earnings because I thought the setup was okay. I thought the expectations at least based on the stock price was was pretty damn good.

Uh two analy two different analysts asked about CEO succession. Yes. and he said twice there is no succession transition or timeline currently underway like it's not meaning like it's not even a conversation internally at the bank and I'm sure it is but it's not something that they're actively worried about right now.

I thought this was an interesting question. They said anything unusual in the results particularly like as it relates to situational awareness and uh the blown up hedge fun and Solomon asked said to the CFO I don't Dennis I don't think so right and said no there was no no unusual items it was just a hell of a quarter

so anyway the stock gapped up I think 4% and closed on the lows of the day listen it's one day I don't want to make too much of it but it's not not awesome it's not what you want to see

they asked about higher interest rates choking off AI spend and he reiterated the Goldman House view is that the US buildout will need $10 trillion through 2032. Um he said 5% at uh 10year.

At 64 years old, he's seen higher rates most of his life. A 5% 10 year doesn't scare me.

Um September there were some IPOs pulled because valuations came in 10 to 15% below expectations. That was the market he said like basically the market is still open. The window is still open but um not every venture capitalist is getting an Aston Martin for Christmas.