I know that we won't be getting the details about Goldman's results until tomorrow, but I'm curious as to all of your thoughts about which specific units at Goldman are going to be the leaders in revenue generation for Q2. I know that the money is primarily from the prop guys and the market makers, but can anyone shed light on the specific units where the money is coming from?
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Q1 they did really well in FICC. They set a revenue record I believe. Remember some comments by Charlie Gasperino about them doing well in regular flow trading just because spreads were wider because market participants had exited. I expect more of the same from FICC. The equity side of business is looking strong too with the NYSE increasing the time period for its SLP program which they are utterly dominating.
Meredith Whitney comments this morning on Goldman were really bullish. She is calling for EPS of $4 vs $3.48 street estimate so we will see. Market shot up nicely on her comments.
"Oh the ladies ever tell you that you look like a fucking optical illusion" - Frank Slaughtery 25th Hour.
Thanks for the response. Any insights on which desks within FICC (i.e. SSG, the various credit teams, the macro products, http://www2.goldmansachs.com/careers/our-firm/divisions/securities/how-…, etc.) are contributing most?
Reported EPS of $4.93. Record revenues in FICC, #1 in M&A ytd, record in equity underwriting. This is a very good Quarter for them.
"Oh the ladies ever tell you that you look like a fucking optical illusion" - Frank Slaughtery 25th Hour.
For God's sakes Goldman. Best quarter ever in this environment?
I guess it's true: "Never underestimate the earnings potential of Goldman Sachs."
But they didn't specify how the earnings in FICC broke down specifically by desk and by prop/market-making, did they?
I think you should keep in mind that the careers website doesn't represent every unit Goldman has. Most of the profits came from a proprietary trading group, which I assume only takes veteran traders. Perhaps it's a bunch of quants who did it. Either way, I doubt whatever unit it is will have job openings listed on Goldman Sachs' career page.
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What was the figure, something like 73% of their revenue just from FI and Equities trading?
Thats typical tho. No surprise in that for the %. I did notice that Principal investment revenues were lower. Most of their prop trading does not fall under this category.
"Oh the ladies ever tell you that you look like a fucking optical illusion" - Frank Slaughtery 25th Hour.
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