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"How Much Worse Will It Get?" That's What Goldman's Clients Want To Know

•, by Tyler Durden

Goldman's response, as delivered by the bank's chief equity strategist David Kostin, predictably was 'don't panic, things are very different than they were 31 years ago.'

In retrospect, and considering the immediate market plunge that followed, what happened next certainly certainly had the feel of 1987, Goldman's clients should have been asking Bank of America , which on payrolls Friday correctly predicted that a 12% plunge was imminent.

Meanwhile Goldman's David Kostin was out there defending his bullish thesis (even if he quietly suggested that "investors who are already long cash equities could instead consider purchasing puts as protection".)

Well, it's one week later, the biggest ever point crash in the Dow Jones is in the history books, as is the volocaust which sent the VIX up by the most on record and imploded the inverse VIX industry.

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