Jim Cramer Sounds the Alarm on China Rhetoric and Dollar Panic Then Analyzes 11 Key Stocks

7. Goldman Sachs Group Inc. (NYSE:GS)

Number of Hedge Fund holders: 81

Jim Cramer discussed Goldman Sachs Group Inc. (NYSE:GS) in the context of its latest earnings report, highlighting both its strengths and potential challenges. While the bank reported a strong quarter driven by equities trading revenue, Cramer noted that activity in investment banking remains muted due to macro uncertainty. Here is his full analysis:

“Well, we need the buyback. Now, they did buy back 7 million shares with a $610 basis. You’re obviously nowhere near that. What Goldman excels at is helping clients in a time of turmoil. And they did great there, but net interest income was good too. But when you take a look at investment banking, look, they’re just debt underwriting. They’re just not making a lot of money in debt underwriting. […]

When you look at Goldman, what they’ve excelled at is not having a lot of people when things, individuals that aren’t good. I remember there was a quarter where I went downstairs to the 27th floor. The municipal bond floor. It was empty. It was empty!”