Bloomberg reports that Goldman Sachs, which managed to bag $3.44bn in the second-quarter, has astounded the market by its trading prowess in the period.
The news agency reports that, according to a Securities and Exchange Commission filing, Goldman only lost money on two trading days during April, May and June, and that the firm made at least $50m on 58 of the 65 trading days in the period. Goldman also reaped profits of at least $100m on 46 days, 71% of the time!
Many think that Goldman's trading success is built on some kind of black magic formula, or cooked up by special recipe. Well, it's not. Our Highly-Placed Professional says: 'Many firms increased VAR when it became clear earlier this year that there would be no financial meltdown, but Goldman has the biggest risk appetite, and some of the smartest people who trade perhaps the broadest portfolio of products out there. And, just as importantly, their risk management tools are among the best on the Street'.
The news agency reports that, according to a Securities and Exchange Commission filing, Goldman only lost money on two trading days during April, May and June, and that the firm made at least $50m on 58 of the 65 trading days in the period. Goldman also reaped profits of at least $100m on 46 days, 71% of the time!
Many think that Goldman's trading success is built on some kind of black magic formula, or cooked up by special recipe. Well, it's not. Our Highly-Placed Professional says: 'Many firms increased VAR when it became clear earlier this year that there would be no financial meltdown, but Goldman has the biggest risk appetite, and some of the smartest people who trade perhaps the broadest portfolio of products out there. And, just as importantly, their risk management tools are among the best on the Street'.
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