Changes in Wall Street in past 10 years?

I read that 10 years ago, 80% of Goldman Sachs profits came from investment banking, 20% from trading,

and now, 80% of profits come from trading and 20% from investment banking


So what has changed?

 

Prop trading.

 

Trading has become more difficult because of more manipulation.

 

HFT is changing Wall street. HFT will blow small traders away




More than 90% of small traders lose! They just lose!



http://www.bloomberg.com/news/2012-...-seen-profiting-at-small-firm-expense-1-.html







P.S Goldman and others are blending into HFT technology