Below is why you take a Goldman Sachs recommendation with a...

Below is why you take a Goldman Sachs recommendation with a grain of salt :

It was exactly one year ago that a former executive director at Goldman, Greg Smith, wrote a scathing op-ed piece in The New York Times that described in lurid terms how the bank exploited its own customers, derisively referred to as "Muppets," to enhance profits.

And Goldman is also known for (though not alone among the big investment banks) advising clients to make one move while taking the opposite side of the trade.

"The truth is that Goldman Sachs and the rest of the big banks on Wall Street invariably "blow up' customers to make money for themselves," explained Money Morning Capital Wave Strategist Shah Gilani.
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Not to worry, though. Goldman reinstated Chipotle on Jan. 4, after the stock had recovered to $341.27.

The truth is, that fishy smell coming from Goldman Sachs' Conviction Buy List is just one reason to be wary of big banks.

"Not only do big banks like Goldman run roughshod over their customers (trading partners) and clients (banking relationships), the big banks manipulate markets, industries, economies and countries to fatten their already gigantic bonus pools and personal fortunes," Gilani said.