Investment banking giant Goldman Sachs (NYSE: GS) has had a rough go of it over the last year. With a dramatic drop in the number of companies going public through initial public offerings (IPOs) and a challenging market environment, things haven't been easy for the bank.

On paper, Goldman Sachs may look like a bargain, but I'm not buying this investment bank anytime soon. Here's why, plus another banking giant I like instead.

Investment banks struggled last year. That was a stark contrast to the prior year when deal activity was the highest on record.

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Source Fool.com