An Interesting Investment Strategy from Goldman Sachs

I just found this by accident while searching for something else: US Hispanization: Long/short strategies. That PDF was dated October 23, 2007. Below are a few excerpts from it:

The Trend Continues... In November 2004, our report The Hispanization of the United States provided a context and investment framework to assess the growing influence of Hispanics in the US economy. Three years later, the theme retains its relevance, and we offer a long/short investment framework.

[...]

For domestically-focused investors and companies, gaining exposure to the rapidly growing US Hispanic population offers the best prospect for sales and earnings growth over the next three years.

See the graphic below, which comes from this PDF. Note the suggestions for Housing and Financials, and remember, this was published two months after the subprime crisis became obvious in August of 2007.

Does Goldman Sachs have two levels of clients -- one level that gets this advice, and a higher level that gets offered the opposite advice?