Now What Are The Odds Of That?

Tyler Durden flags down this bit of Goldman Sachs trivia:  In 1st Quarter 2010, in 63 trading days on the trading floor, Goldman Sachs made at least $25 million dollars a day. Every day.  Not only did they never, ever lose moeny in the course of a full trading day, but every day was worth at least $25 million bucks.



Now what are the odds of that?

In the quarter ended March 31, Goldman made money on every single trading day. The firm did not record a loss of even $0.01 on even one day in the last quarter. That's 63 days profitable out of 63 trading days. The statistic probability of this event is itself statistically undefined. Goldman is now the market - or, in keeping with modern market reality, Goldman is the house, it controls the casino, and always wins. Congratulations America: you now have far, far better odds in Las Vegas that you have making money with your E-Trade account.

Adding to the alice in wonderland insanity of this announcement, the firm made over $100 million daily on 35 different days. Of Goldman's $9.7 billion in total Q1 revenue, 76% came from trading. Forget investment banking, forget underwriting, forget advisory: over three quarters of the firm's value is based on being the house to the biggest corrupt casino in existence. Ever.

They're not just playing the game.  They're not just winning the game.  They are the game.  Rest of us are just here to fill the stands. What say you, Goldman?

Goldman Sachs on Monday showed how its trading operations are stronger than ever, but warned that more litigation and investigations loom. 

Gosh, really?