Goldman (GS) Traders Fail to Meet Last Year's Perfect Score
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Traders at Goldman Sachs (NYSE: GS), often deemed the creme of the crop, failed to outperform those at other big banks last quarter, losing money on one day out of 62 total trading days.
While the measure seems to be quite a feat, the firm was beat out by JPMorgan (NYSE: JPM) and Bank of America (NYSE: BAC) traders, both who did not lose money on a single day last quarter. Goldman topped traders at Morgan Stanley (NYSE: MS), however, who saw loses on three days.
Goldman traders could not match the same trading record they saw during the first quarter of last year, when the firm did not post a losing day of trade. During the fourth quarter of 2010, Goldman lost money on 13 trading days.
Investors are not flinching at the trading results Tuesday, bidding up Goldman shares by about 1 percent.
While the measure seems to be quite a feat, the firm was beat out by JPMorgan (NYSE: JPM) and Bank of America (NYSE: BAC) traders, both who did not lose money on a single day last quarter. Goldman topped traders at Morgan Stanley (NYSE: MS), however, who saw loses on three days.
Goldman traders could not match the same trading record they saw during the first quarter of last year, when the firm did not post a losing day of trade. During the fourth quarter of 2010, Goldman lost money on 13 trading days.
Investors are not flinching at the trading results Tuesday, bidding up Goldman shares by about 1 percent.
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