They are the masters of the game. Who are they? They are the traders at Goldman Sachs.
Why is Goldman Sachs Co. (NYSE: GS) the best? Take a look at the record. Goldman traders had one loss in the third quarter. They had a string of 36 $100 million days out of 65 trading days. These figures were down slightly when Goldman had 46 $100 million trades in the second quarter.
Goldman had fewer $100 million days in the third quarter due to higher margin requirements. Nevertheless, Goldman had profits of $2 billion in the third quarter, up from $1 billion in the previous quarter.
In addition, Goldman increased profits in equities by 25% to $3.4 billion.
Goldman is a primary dealer for the Federal Reserve, and it was able to time Fed purchases of government debt a subsequent Treasury debt sales. Their trading involved beating the relationship between Treasury bonds and other fixed income securities would normalize.
Hats off to Goldman traders!
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Reader Comments (Page 1 of 1)
11-05-2009 @ 3:30PM
Jim Davis said...
Madoff had a nice streak going there too. I guess you would have been impressed there too.
If you had the inside information GS does, you'd also 'never lose'
11-06-2009 @ 8:51AM
Beltway Greg said...
Flash trading? These people are better than Bernie.