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Goldman amasses $164bn in liquid assets

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http://www.ft.com/cms/s/0/fa8701b2-2916-11de-bc5e-00144feabdc0.html?nclick_check=1


Goldman Sachs has amassed a war chest of $164bn (£110bn) in cash and liquid assets that could be used to buy distressed securities and loans as its rivals clear their balance sheets, Goldman’s chief financial officer said on Tuesday.


He acknowledged the liquidity position was a drag on earnings and return-on-equity ratios but said in the current environment “prudence is the better path”.


“Capital markets activity is really starting to pick up and if the equity markets hold, given the need many companies have for equity, I think you will see a pretty big pick-up in capital markets activity,” he said.


“It’s important to run our business the way it ought to be run,” he said


amass 大量に集める

prudence 用心深さ,慎重さ

pick up 回復する

ought …すべきである

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