Tag:
trading losses
Latest Headlines
Latest Headlines
Big banks lose money on majority of Q3
Just how tough was the trading environment in the third quarter?
Pretty bleak judging by recent financial disclosures about trading days and profitability. Morgan Stanley suffered trading losses on 31 days in the third quarter, the most since the 2008 crisis. Goldman Sachs lost money on 21 day
"Moral rot" on Wall Street
Former investment banker William Cohan has emerged as one of the more incisive critics of all that ails Wall Street by dint of his book "Money and Power: How Goldman Sachs Came to Rule the World," and his trenchant commentary in Bloomberg and other venues. Some have noted that former inves
Treasuries and government bonds: An era-defining trade?
Is this one of those era-defining trades? A chance to become the next John Paulson ?
As some form of a default on Treasury bonds looms a bit more likely with every passing day, the push to find ways to capitalize on such an unprecedented event steps up. The longer we go without a de
Morgan Stanley might be turning around trading operations
Morgan Stanley CEO Gorman has said that his "No. 1" priority at the bank is fixing the fixed-income trading unit. The firm turned in a strong performance in the first quarter for trading in general, notching $3.47 billion in sales and trading revenue, more than triple its fourth-quarter figure, ac
Why JPMorgan is exiting prop trading
The decision by JPMorgan CEO Jamie Dimon ( Jamie Dimon news) to exit proprietary trading has been attributed to Dodd-Frank, in particular the Volcker Rule. But you have to wonder if the bank was considering a drastic scale back anyhow.
Some huge prop trading losses may have left a sour tast
Goldman Sachs less than perfect in second quarter
Like its top competitors, Goldman Sachs ( NYSE: GS ) fell short of the perfect record it posted in the first quarter. The gilded investment bank reported in an SEC ( SEC news) filing that it lost money on trading 10 days in the quarter, including losses of more than $100 million on three days
Banks no longer perfect on trading
The biggest banks on Wall Street raised brows last quarter when they each pitched perfect games; Goldman Sachs, JPMorgan, Citigroup and Bank of America each made money on every trading day in the first quarter. But we all knew the second quarter would be a different story, as the trading environme
Goldman Sachs analysts: Second quarter bank earnings to take a hit
We've noted that the second quarter doesn't look like it will be nearly as profitable for big banks as compared to the first. The big reason: the capital market gods giveth and they taketh.
The latest firm to put some numbers to this is Goldman Sachs ( NYSE: GS ). Analysts at the firm say th
Can the big four sustain trading gains?
We've noted that Goldman Sachs ( NYSE: GS ) and JPMorgan ( NYSE: JPM ) enjoyed perfect records for trading in the first quarter, in that they went the entire quarter without a full day of trading losses. Turns out that Bank of America ( NYSE: BAC ) and Citigroup ( NYSE: C ) also pitched pe
Undisclosed Merrill losses haunt Bank of America
Did Bank of America really know what it was buying? There's plenty of anger in the executive suite as executives try to makes sense of the staggering Merrill Lynch trading losses--one trader lost $120 million all by himself on currency bets--that did not come to light fully until after Merrill pai
