Goldman Sach's former largest shareholder isn't buying the hype coing out of the GS PR machine that everything is fine at the firm.
Axa, whuch was Goldman Sachs largest shareholder, has cut its stake in Goldman Sachs by more than half in the last quarter.
Axa, the French insurance and money management firm, reduced its holdings in Goldman by more than 16m shares in the three-month period ending June 30, according to a recent SEC filing. The reduction leaves Axa’s holdings at 2.1 per cent from 5 per cent.
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