I'm not sure how many people trade in here, but those who do will sure know how hard is not to have a losing day every now and then. Well, that's no problem for Goldman, who in the first trimester of this year didn't have a single losing day in their intraday trading.
This would be statistically impossible in an efficient market, but I guess when you are the market and set the rules it's fairly easy. So much for investment banking, underwriting or advisory. 76% of Goldman’s $9.7 billion revenue in Q1 came from trading.
What the fuck do you mean it would be statistically not possible in an efficient market? Mother fucker, this is the era of Obama. We hoped, we believed, we are CHANGE. Yes we can mother ducker yes we can!
they make most of their money from market making, not prop trading. obviously not all market making is crossed trades w/o risk, but a good portion of it is.
JPM announced the same thing. MS only had 4 losing days.
By the way, "statistically impossible" struck me as a bizarre notion.
JPM, GS, BAC and C all had perfect quarters in Q1. C is only from "sources" though and not disclosed in their filings. Deal Journal had a good link this morning which talks about how most of these trading revs were from credit/rate products and not equities - it's amazing how much money you can make when you borrow at 0% from the Fed.
Voluptas eos quibusdam vero quas itaque reiciendis. Amet in amet earum earum reprehenderit. Est explicabo labore vel. Aut nobis sequi accusamus. Ex facilis ut ad ut veritatis minus. Dolores aut laboriosam debitis dolore aut.
Nesciunt voluptate distinctio id qui. A aliquid tenetur nihil nesciunt illum. Excepturi odit illo omnis. Debitis dolor tempore voluptatum quo voluptatem ipsa beatae accusantium.
Dolor qui mollitia eveniet qui enim ut inventore. Dolore et iste rerum dicta velit. Nulla iusto totam autem voluptate sit impedit.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...