From ZeroHedge: "The Goldman 10-Q is out, providing numerous interesting datapoints for those willing to scour through them. The key one: Goldman lost money on just one trading day in Q3, making money on all the other 64. As a reminder, even in Q2 Goldman lost money on two trading days. The statistical probability distribution of 1 out of 65 is something that not the SEC, but Richard Feynman should be looking into, as Goldman Sachs, after rewriting the lass of risk/return, is now set to redefine normal distributions and other Statistics 101 concepts...." http://www.zerohedge.com/article/absolute-perfection-goldman-loses-money-just-one-trading-day-q3
Insane. They obviously control the market 100%. An example of when being too big actually works in your favor :-}
How much of goldmans 'trading' is speculative and how much is risk free profits, skimming money from clients etc.
I believe the US markets are now "crooked", far more than they used to be - on par with Indonesia and Thailand, just hundred times bigger.
it looks like a good profit factor, maybe 50 or so. how can this sordid manipulation of the markets can be orchestrated without some serious legal prosecution?
If Goldman Sachs was a baseball player batting .999, there would have been a congressional investigation and ultimatley huge fines.
Insane statistic. GS is clearly unstoppable at this point. Out of curiosity, does anyone know how this statistic compares with other IB's?