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Tuesday, May 11, 2010

Goldman's Winning Streak

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I'm not sure what to make of this:

Goldman Sachs has first quarter with no trading losses, Bloomberg News: Goldman Sachs Group Inc.'s traders made money every day of the first quarter, a feat the firm has never accomplished before.
Daily trading net revenue was $25 million or higher in all of the first quarter's 63 trading days... The firm reaped more than $100 million on 35 of the days, or more than half the time. ...
The lack of trading losses could add to the perception that Goldman Sachs has an unfair advantage in the markets, one shareholder said.
"It will reinforce the heads we win, tails you lose mentality that people think actually exists and promotes the concept of an unfair advantage," said Douglas Ciocca... "It's too politically charged not to. How is that possible that they only make money?" ...

"This is the first time we have reported zero trading loss days in a quarter," said Samuel Robinson, a Goldman Sachs spokesman. "We believe it shows the strength of our customer franchise and risk management."

    Posted by on Tuesday, May 11, 2010 at 08:25 AM in Economics, Financial System | Permalink  Comments (69)


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