Where the profit of Goldman Sucks come from?

[riskarb]

Quote from sle:

Dont tell me you work for Bear - that would be too funny

No:eek: perish the thought, simply that Bear is the least likely of the wirehouses to blow-up from sales&trading activities.

FWIW, I run a fund in Chicago and use Bear for prime brokerage. Bear beat GS hands-down -- they're too tight to lose money from trading. Bear's accounting is flawless -- I never have to concern myslef with marking of an OTC trans, and they fight for the biz.

arb.

 

[sle]

Quote from riskarb:
No:eek: perish the thought, simply that Bear is the least likely of the wirehouses to blow-up from sales&trading activities.

Nowbody is perfect. I think it was last november when a trader from equity derivatives entered an order to short some futures (or so he tought), but by mistake he entered it into the equity system which had different utits - in short, he shorted 8BN worth of stock. He figured it out right there and then since it was taking a bit longer then usual, but the order moved the market quite a bit.