Goldman's asset management unit ups positions in hotel, cruise line stocks

FILE PHOTO: A view of the Goldman Sachs stall on the floor of the New York Stock Exchange July 16, 2013. Goldman Sachs Group Inc said on Tuesday quarterly profit doubled, beating Wall Street estimates, boosted by returns from investing the bank's own money. REUTERS/Brendan McDermid

NEW YORK - Goldman Sachs Group Inc’s asset management unit has added to positions in travel stocks, including hotels and cruise lines, as well as Live Nation Entertainment Inc and Japanese cosmetics company Shiseido Co Ltd, executives said Friday. Katie Koch, Goldman Sachs’ global co-head of equities for its asset management business, said the division has seen “strong net inflows into our active portfolios from clients globally” this week.”

We recognize the seriousness , and we would never celebrate a sell off of this magnitude,” said Koch. “But this dislocation provides active managers a great opportunity.”

those vampires dump out all chips on hand and pick up at the lowest price, shame on you wall street...

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