By Andrey Dashkov, analyst, Casey Research

Andrey Dashkov

Wall Street just reminded you that it doesn’t care about you.

Earlier this week, Goldman Sachs’ CEO David Solomon announced that the Wall Street giant is pulling back from its retail banking operations.

Instead, it will focus on its traditional business lines: catering to big corporations and high-net worth individuals.

We’re not surprised. Wall Street has rarely paid too much attention to retail clients, including individual investors.

But this latest move is special. By throwing in the towel on retail banking, Goldman signaled that Wall Street will always serve the uber wealthy. Rather than making banking more accessible and investment products more affordable for the mass market, it will stick to what’s always worked in the past… taking care of the existing ultra-rich client base.

What Did Goldman Try to Do?

In the past few years, Goldman Sachs tried to offer retail clients credit products, savings accounts, and even investment services.

One of the most famous ones was the Apple Card, a credit card Goldman issued in partnership with Apple in 2019.

It also built an automated investing service that was “designed by the experts at Goldman Sachs.”

It offers “customized portfolios” that investors can put together based on their preferences.

As an example, it put together “smart beta” portfolios, which are aimed at “investors who are willing to withstand more variability to market benchmarks for potential higher long-term gains, and for those who want to be invested in Goldman Sachs ETFs.”

(Smart beta is a way of putting together portfolios that are different from the popular market-capitalization-based ones like the S&P 500. The goal is to outperform the broad benchmarks by changing the weights of the securities within the portfolios and adding active investing methods such as value investing.)

A Goldman ETF based on a “smart beta” strategy shows that “achieving potential higher long-term gains” is a difficult task. Here is how it performed against the S&P 500 over the past five years.


The two lines look almost identical. Goldman’s “smart beta” strategy performed as well as the S&P 500, without much deviation.

I have to admit: Goldman may have other tools and investments that deliver on its promise. But one of its most popular ETFs ostensibly designed to deliver above-market returns didn’t manage to do it.

No wonder the company’s retail business is struggling.

But here is the good news.

You Already Have the Tools and Options Wall Street Will Never Provide

In 2022, investors aren’t looking for higher risk and higher returns.

Those are nice to have, but protection and income are at the top of millions of investors’ minds.

Instead of putting money into obscure (and unimpressive) ETFs, investors want to turn their attention to more reliable streams of income.

Here at Casey Research, we have been focusing on individual investors for decades.

We have created industry-leading investment systems and portfolios aimed at helping you understand the markets better.

The most recent example is the Intelligent Income Investor, a publication offered by our sister company, Wide Moat Research.

In the words of Brad Thomas, the editor of Intelligent Income Investor, this portfolio focuses on SWAN (“Sleep Well at Night”) stocks.

And last night, Brad went live in his first special strategy session to discuss a trading tactic he uses in his new advisory that can help you take advantage of current market conditions.

This strategy targets “safe ultra-yield” stocks – but it shows how you can earn even more income from them.

Since launching it in 2020, a member of his team has used it to collect $45,000. And you can make more from the most fundamentally sound stocks his research uncovers – regardless of what the market does.

To watch the replay of Brad’s event, and to learn the name and ticker of his favorite recession-proof play in this market, go here. It won’t be up forever, so don’t miss it.

Goldman Sachs may have left Main Street, but here at Casey Research, we will always be focused on helping you become better investors.

Good investing,


Andrey Dashkov
Analyst, Casey Research