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  "documentTitle": "why invest in goldman sachs",
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  "notes": "The slide contains a line chart for financial leverage and a data table for DuPont analysis components (Net Profit Margin, Asset Turnover, Financial Leverage, ROE).",
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      "text": "DuPont Analysis- Decomposes ROE into its components (Asset Turnover, Net Profit Margin, and Financial Leverage) in order to analyze what might be trying to change ROE.",
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      "text": "Financial Leverage line chart comparing Goldman Sachs, Bear Stearns, Merrill Lynch, Morgan Stanley, and Industry Avg from 2000-2006.",
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      "text": "ROE: 29.50%",
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      "text": "Financial Leverage- The financial leverage ratio we used for Goldman Sachs is calculated as average assets divided by average equity. It is a measure of debt in their capital structure. Goldman Sachs was below its competitors for all the years due to the fact that Goldman Sachs uses debt to finance many mergers and acquisitions activities.",
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      "text": "DuPont Analysis- Decomposes ROE into its components (Asset Turnover, Net Profit Margin, and Financial Leverage) in order to analyze what might be trying to change ROE. Here, net profit margin has an increasing trend however asset turnover from 2000 to 2001 decreases because GS pledged some of its assets as collateral.",
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      "text": "DUPONT ANALYSIS:",
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      "objective": "To evaluate Goldman Sachs' financial performance relative to its peers.",
      "structure": "Our Performance -> Industry Average -> Best-in-Class -> The Gap = The Opportunity",
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