Jim Cramer Says "Goldman Shouldn't Do Something That Isn't Exactly What is Right in Their Sweet Spot"

The Goldman Sachs Group, Inc. (NYSE:GS) is one of the stocks Jim Cramer recently shed light on. When a caller inquired as to why the company is acquiring a majority stake in talent agency Excel Sports Management, Cramer commented:

“You know, I wasn’t crazy about that. It’s funny you mentioned that because someone asked me about it the other day…. Why are they buying it? I said, you know what, I gotta tell you, it didn’t make a lot of sense to me. The stock reversed horribly today. It was up really nice at one point. It’s a big position in my Charitable Trust, and then just came down hard. I hope it’s nothing to do with that. You know… you and I are, we’re, we’re plain thinkers, and Goldman shouldn’t do something that isn’t exactly what is right in their sweet spot, and this one isn’t.”

The Goldman Sachs Group, Inc. (NYSE:GS) provides financial services, including investment banking, asset and wealth management, and banking solutions.

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Disclosure: None. This article is originally published at Insider Monkey.