Discussion in 'Wall St. News' started by OnClose, Dec 7, 2012.
Bet Taylor is not sleeping well. Hope he doesn't have any assets that Goldman want.
8.3B in E-Minis? That's a lot of mini's.
If a GS employee loses more than 100-million dollars of the firm's money, was a "crime" really committed?
The article says he hid his position i.e. from his employer, CFTC....
Yes, that is the precise "language" of the article but what are the odds that the position had atleast a 100-million-dollar unrealized loss when it was discovered? I'll say ~100%.
At 1420, (roughly the price in mid Nov and Dec 07) it is 11,600 ES contracts and $580,000 per point.
Be interesting if someone here could explain Goldman's training program for new traders.
Wow...and I thought I had a bad day yesterday!
I'm sure the loss is a writeoff, since they could easily 'frontrun' the unwinding of bad positions, whether it be in SPY, or options, or programmed trades in the components.
You wouldn't nakedly unwind a position.
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