Wednesday, November 4, 2009

Goldman Sach's Unlevel Playing Field

Goldman Sachs had only three losing days in two quarters of trading. That's 3 negative and 127 positive out of 130 trading days. ZeroHedge noted this sweet track record. What are the odds in a fair trading market of suffering only 2.3% of the time?

Who wouldn't want a 97.7% chance of making money, a number that puts Vegas casinos to shame? What happens in Goldman, stays in Goldman.

Note: Both graphs come from GS 10-Q's. The top one reflects third quarter trading, while the lower one is from the second quarter. ZeroHedge added the pink dot.

(Thanks to Economic Policy Journal)