$420,000 for each of Goldman's 22,000 workers worldwide

Quote from WinDiff:

there you have it, less then 1% of GS crooks shaving off +80% of what is available... and the rest is, well for the slaves (oops I meant employees), all conditioned and wrapped up in a GS BS glory... he he he

idiots wake up

:mad:
More...

Employees are hired and fired, entrepreneurs make their own life decisions...just a different mind-set. IMO, employees take more risk than those who are willing to go into business for themselves.

I "started out my life" in Public Accounting..and soon got tired of counting other people's money...started my own practice, started a ski-boat dealership with a friend, moved to Washington state to build racquetball courts, bought some houses, sold some houses...and' then got "dragged" into trading by my brother (in 1979)....Some ventures did well, others did not...but I feel that I made my own choices along the way.

I "chose" not to get into Blackjack when my brother did in 1975 (big mistake)....I "chose" not to go to Chicago to trade OEX and S&Ps with my brother in 1985 (he offered a percentage of his profits, and I could keep all my own profits)..another big mistake since my cut would have been Millions over the next two years. I "chose" to stay trading options on the PSE because I felt "comfortable" in California (Chicago was too cold, what a dumb ass for caring about the stupid weather)....learned a good lesson about not being "geographically limited" when it comes to career choices...

(Not trying to "romanticize" any of this, just sharing).

Don :)
 
I don't know if this makes senses... but please correct me if it doesn't :

In the end,
If it is true or not
or if only a small subgroup where responsible for this high average...
...it doesn't matter !

They have made the best marketing possible !

Now everybody will want to work there and they can get good people paying less for a certain position, because this person will expect to have a larger salary in the future !
And they can also sell the firm to the client as having the best personel in "town", because they are paying more then the average for a certain position !

This is a good marketing ! And they don't even have to publish in the news... people with find out and talk it all over the place !
 
$420,000 x 22,000 = $9,900,000,000

Those GS workers especially the market makers must have pull quite a lot of head fakes to take trader's $$$.
 
The current oil price is comprised of 20 to 35% speculation...and when you break down the profits of all the majors...a large portion of the record earnings will have come from the oil play...

Likewise...it will be interesting to see how they fare when the music stops...It is the ultimate game...to assist in pricing the item...and thus selling the item...

All in all...it is nice to know that I smoked past most of these people in total freedom...no kissing ass...and doing as I please...
living where I please...I win...fuck the tie wearing ass kissers....
 
Quote from jrsmee:

As for comparisons, I'm not sure but google enough and you can probably find them them. Otherwise, got to the sec website and download their financial statements. Here is the most recent filing

Three Months Nine Months
Ended August Ended August
2005 2004 2005 2004
(in millions, except per share amounts)

Revenues
Investment banking $ 998 $ 854 $ 2,667 $ 2,536
Trading and principal investments 4,842 2,424 11,545 9,652
Asset management and securities services 772 620 2,270 2,036
Interest income 5,721 2,905 14,764 8,160

(Sorry for the formatting)
Unfortunately these trading revenues don't segregate by principal accounts (prop) from market making. If you dig around I'm sure someone can find some reasonable guesses. Either way it has been an ever increasing source of income on wall street in recent months. that's why there have been so many surprises come earnings season with banks. Certain activity such as M&A and most asset management (where the manager receives income by AUM not incentive) are relatively easy to predict. But when the firms capital is used to make countless bets, its anyones guess (and if history is any guide, that includes much of senior management).
===============
Thanks Jr-smee,and did some discretionary[gs.com] reading which tends to be useful, but not in the same class as eyewitness evidence.

1]Wil-bear, what they profit in;
they are doing something with ETFs-AmexSpecialists???????

2] Like that elitetrader mentioned, sounds like they are staying on the right side /rite hedge ratio of $105 calls.
:D

3]Assisting investors in planning, probably like Abby J Cohen does; apparently assist traders also by [temporarily perhaps] up/down grading weak stocks like those in American auto sector

4]Block trades

5]NYSE trading & they chose to mention their NYSE,NYSE/Superbooth ,more than NasdaQQQ trading /investing.
Might be wrong on this , but think they trade more NYSE than NasdaQQQ stocks

6 &7]Assist with charity and ;
680,ooo acre real estate gift to southern Chile:cool:
More...
 
Quote from ozzy:

Third that.
More...

Fourth, Fifth, and Sixth that (yes, I can do that). So, how does a young 20-something (late 20s) phd who has come to an epiphany (over the last few years, and not because of this post, ... really) that he loves markets / finance and such make the move in that direction? hypothetically speaking? lets also assume he has no MBA, but has read enough case studies and has enough 'background' knowledge to put many MBAs to shame... again, hypothetically...
 
You must log in or register to reply here.
Back
Top