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Happy Sunday, and welcome back to Dry Powder. In today’s issue, an inside look at the Goldman Sachs resurgence. After a first quarter that delighted Wall Street analysts, the firm’s stock is at or near its all-time high, and the chorus of David Solomon doubters has gone quiet. I chatted with John Waldron, Solomon’s second-in-command, about the mood in and around the bank—and how, exactly, Goldman got back to being Goldman.
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Dry Powder
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Happy Sunday, and welcome back to Dry Powder.

In today’s issue, an inside look at the Goldman Sachs resurgence. After a first quarter that delighted Wall Street analysts, the firm’s stock is at or near its all-time high, and the chorus of David Solomon doubters has gone quiet. I chatted with John Waldron, Solomon’s second-in-command, about the mood in and around the bank—and how, exactly, Goldman got back to being Goldman.

But first…

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The Goldman Rush
The Goldman Rush
The doubters have dropped away (for now) as David Solomon brings one of Wall Street’s most powerful firms back from its multibillion-dollar consumer banking boondoggle.
WILLIAM D. COHAN WILLIAM D. COHAN
Goldman Sachs is back, baby! Or at least that’s the conclusion of Mike Mayo, the influential Wall Street analyst at Wells Fargo, and it’s hard to disagree. Twenty-five years after the firm’s May 1999 I.P.O., Goldman’s stock is trading at or near its all-time high, and has a market value of almost $150 billion, narrowing the once-yawning valuation gap with rival Morgan Stanley to around $10 billion. Goldman’s first-quarter performance delighted Mayo and other Wall Street research analysts, and the outlook for the rest of the year seems...
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Happy Sunday, and welcome back to Dry Powder. In today’s issue, an inside look at the Goldman Sachs resurgence. After a first quarter that delighted Wall Street analysts, the firm’s stock is at or near its all-time high, and the chorus of David Solomon doubters has gone quiet. I chatted with John Waldron, Solomon’s second-in-command, […]

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