Goldman Sachs

Sold my Goldman Sachs (GS) equity on 7 Dec 16 (US Date) for US$234.50. This happens when the Dow Jones hits 19,549.

I bought this equity because of Mr Warren Buffett.  He had bought US$5 billion of preferred stocks and said back in 2008: "Goldman Sachs is an exceptional institution. It has an unrivaled global franchise, a proven and deep management team and the intellectual and financial capital to continue its track record of outperformance."

I bought 20 shares of Goldman Sachs on 31 Oct 2008 when the price was US$87.76 and 10 shares on 16 Apr 2010 when the price was US$157.99. When I first bought the equity, Dow Jones was at 9,200. The index has since been through a roller coaster and now has gained more than 10,000 points since 2008.  The profit from GS is one of the best ever from Investment. A reminder that US equity still presents a good opportunity for investment when the price is right.

Mr Buffett had liquidated some of his holding in GS in 2015.

I am still holding Citibank which has been one of my worst ever, other than Creative Technology. The reason why I had brought Citibank equity back in Feb 2008 was that Singapore Temasek Holdings had purchased it, prior to the Great Financial Turmoil of 2008/9. What a great mistake I had made. Still holding it as a loss.

Thanks to Mr Buffett for his wise insight.