17/12/2025 09:41

Goldman Sachs (GS US) $US879.15

Goldman Sachs has been on an exceptional run, as have most US banks through 2025, with shares up ~53% over the past year and trading near all-time highs. Our position in the International Equities Portfolio is up ~70%, having initiated the position in April.

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17/07/2025 09:26

Goldman Sachs (GS US) $US708.82

Goldman’s stock traders posted the largest quarterly revenue haul in Wall Street history, as volatility sparked by the Trump administration’s trade war spurred a second straight record quarter for the unit. That drove a beat across pretty much all financial metrics:

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09/07/2025 09:41

Goldman Sachs (GS US) $US697.28

Commonwealth Bank (CBA) is not the only financial institution trading on a valuation well above its historical norm. Goldman Sachs now trades at a 44% premium to its usual book value, and nearly 30% premium to its usual PE valuation. While uncommon, it’s not without precedent. GS has traded in a broad valuation range since listing in 1999 - on its first trading day, it actually finished up over 40%, which equated to 5x book value at the time.

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15/04/2025 09:34

Goldman Sachs (GS US) $US503.98

Overnight, Goldman Sachs’ traders maintained the trend set by its peers, posting their highest quarterly revenue on record, helped by strong equity trading – the stock rose ~2% following the result. The results built on a record year for Goldman in 2024 when the New York-based bank lifted its revenue in its equities division by almost 50%.

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03/04/2025 17:19

International Equities Portfolio – Amendment

US stocks are expected to open sharply lower this evening on tariff concerns, and we are using weakness to add a new position in Goldman Sachs (GS US), a stock that will likely be a key beneficiary later in the year underpinned by pro-growth US policies around lower taxes and regulation.

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12/03/2025 09:29

Goldman Sachs (GS US) $US531.43

The premier Wall Street bank has held a substantial valuation premium over the past year, with the share price doubling from its 2023 low.

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21/01/2025 09:34

Goldman Sachs (GS US) $US625.94

Goldman has more than doubled from its 2023 low, with the “Trump Bump” arguably just the icing on the cake. Earlier this month, GS reported fourth-quarter results that topped estimates on stronger-than-expected trading revenue, sending the stock up ~5% after the release.

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01/11/2024 09:21

Goldman Sachs (GS US) $US518.74

Giant Investment bank GS delivered a robust set of numbers last month, but the stock does appear to be “getting heavy” as it approaches the $US550 area.

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16/10/2024 09:21

Goldman Sachs (GS US) $US522.38

Goldman Sachs (GS US) reported third-quarter results overnight that showed investment markets are alive and well, sending stock to new all-time highs, building on its near 40% rally over the past year. The result was very strong, with profit up 45%, and was a beat across all major metrics, particularly in equity-trading revenue and the investment-banking business.

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31/10/2023 09:16

Global Markets

Overnight, US stocks enjoyed a strong session as war jitters appeared to abate, with crude oil falling ~2.5%. The S&P500 ended up +1.3%, delivering its best performance since August, with communications services outperforming courtesy of stocks like Netflix (NFLX US), Warner Bros. Discovery (WBD US) and Verizon Communications (VZ US) all surging well over +3%.

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