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Goldman Sachs: Masters of the Trading Universe

This would be comical if it was not so frightening.  Goldman Sachs had 46 trading days in the 2nd quarter where they earned more than $100M.  That is, 70% of the time Goldman made over $100M from trading activity.  How many days did they lose over $100M?  Zero.

46 Rockstar days, zero terrible days

46 Rockstar days, zero terrible days

Not only did Goldman knock the cover off the ball as far as “trading”, but their VaR remained fairly flat at about $230M.

Wonder if they have a random number generator with mean reversion?

Wonder if they have a random number generator with mean reversion?

What’s my point here?  It is absolutely impossible to have 2/65 negative trading days or lose just 3% of the time in the markets It is also absolutely impossible to have 46 $100M+ days and not have a comparable number of -$100M days. What is so absolutely mind-blowing is that Goldman is selling this as if it’s just a testament to their superior abilities.  This is all impossible without front-running activity in the high-frequency arena, insider trading, gouging of clients or all of the above.  Goldman wonders why they have developed negative attitudes from the public?

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