It has been long predicted by the prophets of financial gloom and doom that investment banking industry is on it’s way down. Well, after the debt bubble has popped and with regulations making it harder to turn in a profit, it’s starting to look like that that prediction is fast becoming a reality.
Just recently, one of London’s biggest hedge funds, Lansdowne Partners, had sold its entire 1% share in Goldman Sachs. The share was worth about $850 million. Landsowne was Goldman Sach’s top 20 shareholders.
http://www.marketwatch.com/story/time-to-dump-goldman-and-other-investment-banks-2011-08-03?link=MW_story_investinginsight
