Goldman traders lose money on just one day in first quarter

Trader13 · May 10, 2011

link:
http://www.bloomberg.com/news/2011-...one-day-last-quarter-best-record-in-year.html

Now I know who took the other side of my trades

Visaria · May 10, 2011

Give a year or two and they'll need a bailout again.

Butterball · May 10, 2011

Goldman Traders trade crap like muni bonds, CDS or exotic options with nice wide bid/asks, printing guaranteed money on every trade.

People should stop comparing an investment bank's "trading record" to their own retail day-trading. Completely different world.

GuyFawkes · May 10, 2011

Wow!!!
They are almost as good as Madoff.
Very impressive...

Locutus · May 10, 2011

Quote from Butterball:

Goldman Traders trade crap like muni bonds, CDS or exotic options with nice wide bid/asks, printing guaranteed money on every trade.

People should stop comparing an investment bank's "trading record" to their own retail day-trading. Completely different world.

This. These are not results from directional trades but from market making activities (I would hope). If they actually traded ES long/short there would be perhaps a 0.1% chance they had the same kind of record (no losses).

trickshot · May 10, 2011

Well somebody's got to be raking in all the cash if 90% of retail traders are losing money...

oilfxpro · May 10, 2011

Trading is defined as "packaging fraudulent cdo toxic waste and robbing pension funds . or the U S tax payers for bailouts of fraud engineered by scum of wall street~

Tradeemini500 · May 10, 2011

This is the combined result of all of goldman's trading operations. JPM & GS are the best names on the street.

peilthetraveler · May 10, 2011

I only traded 1 day in the 1st quarter and made a bundle...guess we all know what day that was now....

S2007S · May 10, 2011

Quote from oilfxpro:

Trading is defined as "packaging fraudulent cdo toxic waste and robbing pension funds . or the U S tax payers for bailouts of fraud engineered by scum of wall street~

Exactly!