How One Goldman Sachs Trader Made More Than $100M
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Re: How One Goldman Sachs Trader Made More Than $100M
#2Short version: banker provides liquidity to the markets and buys up junk bonds from panicked sellers at 40 cents on the dollar. Banker then sells the bonds for more money as the panic dissipates. Some people wonder if important banks like GS should still be making volatile bets like this.
Re: How One Goldman Sachs Trader Made More Than $100M
#3Short version: banker provides liquidity to the markets and buys up junk bonds from panicked sellers at 40 cents on the dollar. Banker then sells the bonds for more money as the panic dissipates. Some people wonder if important banks like GS should still be making volatile bets like this.
Yeah. Imho, the problem is the fact GS is important and has such sizable market share than what they are doing exactly.
If we had 20 large banks the size of GS, GS doing stupid shit and tanking wouldn't be an issue.
Re: How One Goldman Sachs Trader Made More Than $100M
#4http://archive.is/rIBZT
For anyone that wants to avoid the paywall.
Re: How One Goldman Sachs Trader Made More Than $100M
#5[deleted]
Re: How One Goldman Sachs Trader Made More Than $100M
#6How to get around the WSJ paywall:
- Copy the URL
- Paste the URL into the Facebook textbox where you would create a post
- Click on the preview, so the referrer url is Facebook
Could probably make a Chrome extension for this...
Re: How One Goldman Sachs Trader Made More Than $100M
#7The market making exemption of the Volcker Rule is based on RENTD - Reasonably Expected Near Term Demand. So Goldman has to prove that this was the case for the high yield bonds. Proving this could be quite tricky though - because they have to factor in a whole lot of parameters (market maturity, depth, liquidity, product holding periods, macro-economic outlook and the trading desk's estimation of client demand). But I'm sure Goldman has models to track each of these. So all in all, this is quite a windfall
Re: How One Goldman Sachs Trader Made More Than $100M
#8How to get around the WSJ paywall: - Copy the URL - Paste the URL into the Facebook textbox where you would create a post - Click on the preview, so the referrer url is Facebook Could probably make a Chrome extension for this...
The problem is these tricks aren't 100% reliable.
Re: How One Goldman Sachs Trader Made More Than $100M
#9How to get around the WSJ paywall: - Copy the URL - Paste the URL into the Facebook textbox where you would create a post - Click on the preview, so the referrer url is Facebook Could probably make a Chrome extension for this...
CTRL+SHIFT+N Opens a new incognito window. Paste. Done.
Re: How One Goldman Sachs Trader Made More Than $100M
#10How to get around the WSJ paywall: - Copy the URL - Paste the URL into the Facebook textbox where you would create a post - Click on the preview, so the referrer url is Facebook Could probably make a Chrome extension for this...
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