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> One known fact is that Goldman was pulling down USD $100,000,000 per DAY in profits from their automated trading systems. That's a hundred million dollars. A
by yangyang 17y ago
> One known fact is that Goldman was pulling down USD $100,000,000 per DAY in profits from their automated trading systems. That's a hundred million dollars. A day.
I don't think that is a "known fact" at all.
All I've found is "more than $100 million in trading revenue on a record 34 separate days during the first three months of 2009" (http://www.business-standard.com/india/news/goldman-sachss-100-million-trading-days-hit-record-in-quarter/357270/ http://www.business-standard.com/india/news/goldman-sachss-1...). That's firmwide revenue, from all their trading activities, not just automated trading. And it's not "every day".
- joezydeco 17y agoOkay, I'll concede that. What I won't ever believe is that Goldman made 100 million dollars in profit trading securities and commodities only for customers in this current economic climate.