From FT Alphaville:
The bank that never knowingly made a loss on more than one day during the third quarter has — via its 10-q filing — provided further detail on the nature and success of its trading activities in the three months to September 2009.
First, a reminder of how Goldman Sachs’ trading and principal investments division performed during the period, as per the results statement the bank issued in October:
- Net revenues in the division were $10.03bn compared to $2.704bn in the third quarter of 2008 and $10.78bn in the second quarter.
- Net revenues in equities (which include Goldman’s market making and specialist businesses) rose by 79 per cent to $2.78bn compared to the third quarter of 2008 — but were down on revenues of $3.18bn in the previous three months to June 2009.
- Net revenues in FICC (fixed income, currency and commodities) rose by 375 per cent to $5.991bn compared to the third quarter of 2008 — but were also down on revenues in the previous quarter of $6.8bn....MORE