Goldman/IPOs Wonderboy wobbles

Here’s an oddity. The bank that everyone on Wall Street and in the City envies most is going through a decidedly rough patch. Goldman Sachs’s performance in equity underwriting this year looks just short of abysmal. It may rank as the biggest seller of new stock in the US, but right now that’s a decidedly unglamorous distinction. Goldman was involved with some of the year’s biggest dogs, including the $855m IPO of Lazard. Eight of the ten US deals in which it was either sole or joint lead manage...