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nakedcapitalism.com - 30 days ago
Mirabile Dictu! Goldman Loses Money Only One Day in Last Quarter
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OK, I have heard all the explanations, spreads are wider because there are fewer market makers, asset prices are rallying (market making firms are structurally long; it’s difficult and costly to go net short on that big a balance sheet), Goldman is currently the trading kingpin. But I ...

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Rolfe Winkler:  Lunchtime Links 11-5

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Lunchtime Links 11-5
Rolfe Winkler — ... Mirabile Dictu! Goldman lost money one day last quarter (Yves Smith) In its quarterly filing with regulators, Goldman published a “frequency distribution” for daily profits. That’s a fancy way of describing the average amount of money it made each day last quarter. Out of 65 trading days, only once did it lose money. And a pittance at that. (Alphaville ...

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