Goldman Sachs reports its final quarter's earnings Thursday and the smart money is on the firm putting in another strong performance to cap off a record year.
The Wall Street firm is thought likely to pull in profits of $1.18bn for the final period - and that will take annual net revenues up to a record $4.5bn. Staff will be expecting to be well rewarded this bonus round.
A better performance from equities, together with strong earnings from fixed income, M&A and commodities trading is thought likely to push Q4 profits up around 22% on the same period 12 months ago.
This year has been an excellent one for Goldman. Profitable and relatively scandal-free. Although the firm still faces the challenge to its traditional franchise of the so-called 'Universal' banks (like Bank of America, Citigroup and JP Morgan), Goldman seems to be doing just fine sticking to what it's good at. Only a fool would presume that Goldman won't still be around doing the business for many more years to come.