Wednesday, May 12, 2010

Not Only GS, But Also Bank of America, Citi, and JPM has Perfect Trading Days, 61 Days in a Row

This is easy (and some may say only doable) if you know in advance what the stock market will do on a given day.

We reported on the perfect trading record that GS had in Q1 2010, besting its previous quarter which was astronomically good in term of percentages. The New York Times now has an article commenting that the feat was also achieved by C, JPM and BAC. Did anyone say collusion?

"...the four giants of American finance managed to make money from trading every single day during the first three months of the year.

"Their remarkable 61-day streak is one for the record books. Perfect trading quarters on Wall Street are about as rare as perfect games in Major League Baseball"

"Each [of the firms] finished the period without losing money for even one day".


“This is not about hitting home runs,” said Jaidev Iyer, who runs his own risk management consulting firm, J-Risk Advisors. “This is just, as we call it, milking the market and your captive client base.”

  • JPMorgan's trading revenue were $90Mon 39 days during the first quarter, and exceeded $180M on 9 days.
  • Goldman Sachs posted its first perfect quarter ever. Goldman made at least $100 million on 35 days during the quarter, and at least $25 million on the remaining trading days.
  • Citi also had a perfect quarter.

And we were wondering why the stock market was relentlessly going up.

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