Another look at Goldman Sachs' trading prowess
Goldman Sach's trading prowess has been the envy of Wall Street firms for a several years now. In 2007, Goldman lost money from trading on 52 days last year. That compares with 56 in 2006. Bear Stearns on the other hand had a tough year: the number of days on which it lost money rose from 13 in 2006 to 62 in 2007. Ouch! The best performances on a per-day basis were turned in by Lehman Brothers, which lost money on 33 days (up from 6), and Morgan Stanley at 34 days (up from 22). What to make of all this. It's not the number of days that really matters, but how much you make and lose on each day. Still, it may be that Goldman's blockbuster bet against subprime-related securities masked some big losers.
For more:
- here's the Financial News Online article




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