On Tuesday, shares in Goldman Sachs closed
at a new record high of $239.20 per share. Goldman stock has risen by more
than 50% from its August lows – a trajectory, says, Helen Thomas, "we’re
more accustomed to seeing on a Shanghai listing".
These big moves over the course of a couple of months can be important –
much more important than moves
of a few dollars in the wake of an earnings write-down. If you really want
to get a feel for the fortunes of a bank (or any company, really), look at how
its share price has done over the past few months, not the past few days.