Goldman traders made $1bn in 10 days

A Billion Dollars

Goldman Sachs, which generated about half its revenue from trading last quarter, posted losses from that business on six days in the second quarter, unchanged from a year earlier.

Bloomberg News reports that the bank’s traders made more than $100m on 10 days in the quarter ended June 30, compared with four days in the year-earlier period, the New York-based company said in a regulatory filing Thursday.

While the largest one-day loss was between $75m and $100m, none of the firm’s losses topped its value-at-risk estimate.

Goldman Sachs generated $4.31bn from its trading division in the second quarter of 2013, an increase of 11% from the year-earlier period.

The total was down from the first quarter amid a drop in bond prices sparked by indications that the Federal Reserve may ease economic-stimulus measures.

Hit the link below to access the complete NY Post article:

Goldman Sachs Traders Lost on Six Days in Second Quarter

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