Goldman Sachs: A Solid Investment for the Next Decade
Goldman Sachs (NYSE: GS) has not given the market much to cheer about since the end of 2021. High inflation, rising interest rates, slowing growth, and several U.S. and overseas bank failures created a hostile investing climate for all financial-services companies. Goldman Sachs is no exception, and the shares are down about 1% year to date compared to the S&P 500, which is up 15%.
If you have an investing timeline of a year or less, there is little to motivate you to buy this stock at current levels in this uncertain market. However, this investment bank has plenty to like over the long term. Here's why you may want to research this stock further and put it on your buy list.
Goldman Sachs is a global investment bank, one of the largest in the world, with offices in over 30 countries and 60 cities globally. Investment banks are cyclical businesses whose performance follows the overall economic cycle. Investment banks do well when the economy grows because they are involved in several activities essential to economic growth, such as mergers and acquisitions, underwriting of securities, and asset management.
Source Fool.com
