Last update 2022-11-23 6222 Stocks (310 new)
Value $430.16 Bil Turnover 10 %
Portfolio Report


Goldman Sachs was founded in 1869 by Marcus Goldman, expanding into a general partnership in 1885 with his son and sons-in-law. The company joined the New York Stock Exchange in 1896 and would experience rapid growth. In 1906, the firm would help two clients, the United Cigar Manufacturers and Sears Roebuck, to achieve success in IPOs, starting a tradition of having a Goldman partner on the boards of major clients. During the 1910s, Goldman Sachs created innovative financial practices that managed public offerings for several small companies that would grow to become large corporations. Although expansion continued at a great pace through the 1920s, Goldman Sachs was hit hard in 1929. Its recovery was slow, taking until the mid-1930s for the commercial-paper and securities to become profitable again. Once recovered, the company would add a great deal of investment activities, ranging from new domestic and international share offerings to research and mergers and acquisitions. When Sidney Weinberg assumed a senior role at the company, he shifted Goldman Sachs’s focus towards investment banking. The success of Goldman Sachs role in the Ford Motor Company’s IPO in 1956 under his watch would cement the company’s place in the market. Weinberg was succeeded by Gus Levy in 1969, and Goldman Sachs would grow to become an influential financial institution during this time. In 1981, Goldman Sachs acquired the firm of J. Aron & Co., giving it a strong position in South American markets. Facing fierce competition, Goldman Sachs sought capital and created a holding company, the Goldman Sachs Group, with subsidiaries. In the 1990s, Goldman Sachs would become one of the most profitable companies in the world with profits well into the billions. A major component of this growth was the focus on international expansion, allowing the firm to participate on many investment projects such as the Mexican bailout and Finland Neste Oy oil. The latter half of the 1990s would be marked with acquisitions as Goldman Sachs worked to stabilize its unpredictable trading business and retain its leadership role in the industry. The company had its IPO just before the new millennia, raising $3.6 billion and naming Henry Paulson Jr. as the CEO. And, although suffering a slowdown during the financial troubles of 2007-2010, Goldman Sachs continues to be a major leader in the investment banking market. Notable mutual funds and ETFs include the Equity Growth, Global Income, and Equity Factor Index.
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