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Mark will be launching a mutual fund summer 2010. He is a self taught private investor who operates the website Fund My Mutual Fund (http://fundmymutualfund.com); a daily mix of market, economic, and stock specific commentary. Fascinated by the market since an early age, he discovered mutual... More
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  • Goldman Sachs Posts 98.4% Win % in Q3 5 comments
    Nov 4, 2009 12:53 PM
    Look just admit it; a super human race lives in Goldman Sachs and they somehow can find ways to only lose money 3 days in half a year.  Don't ask questions - it worked for Enron for years, it worked for Madoff, it should work for you.  Just admire their prowess and bow.
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This post has 5 comments:

  •  
    !!!

    From your August piece:

    [Mar 1, 2009: 60 Minutes, Harry Markopolos - the Man who Figured Out Bernie Madoff]
    "If you had executives at the biggest investment houses on Wall Street that knew something was wrong, why do you think they didn't go to the SEC?" Kroft asked.

    "Because people in glass houses don't throw stones. And self regulation on Wall Street doesn't work," Markopolos said.

    'Why this guy is not SEC chief right now is beyond me. Well it's not really beyond me because his appointment would never happen when the financial firms call the shots.'

    !!!!! (speechless)
    2009 Nov 04 04:31 PM Reply
  •  
    The GS fox is not guarding the hen house, they own it, when they say lay them eggs the hens just need to know how many! GS batting close to 1000% in their trades, its like they've been to the future and know what to buy, when to buy and when to sell, the silence of the admin on this issue is deafening, Obama demonized WS right up to the time he met with them and since then has been eerily silent, makes you wonder if deals were struck that day because the markets rally commenced soon after and Obama lost his voice. I dont know Im just asking, you know!
    2009 Nov 04 04:47 PM Reply
  •  
    The real question is why it's not 100%. When you own the game, make the rules, pay the referee, and even have the other teams on your payroll, then the outcome is never in doubt.

    A more important question is why anyone else would still continue to play?
    2009 Nov 04 06:02 PM Reply
  •  
    Goldman appears to be engaged in strategies that work about 98% of the time. Just like Long Term Capital and a bunch of other hedge funs.

    But there is the Gambler's Ruin principle that if you bet all your wealth all the time, and win "all but one," you will lose everything.

    In the end, it's not the occasional losses that kill you, it's the leverage.
    2009 Nov 04 07:31 PM Reply
  •  
    How can Goldman lose? On the winning bets they make a fortune and pay out much of it in bonuses to their management and traders with smaller rake-offs to the lobbyists and politicans. If they ever do lose (rarely of course), they call Paulson, Geitner, Bernake, etc. and get them to pick up the losses or guarantee them. Looks like a 100% win for GS no matter what, or the old "heads I win, tails you lose deal".


    On Nov 04 07:31 PM Graham and Dodd Investor wrote:

    > Goldman appears to be engaged in strategies that work about 98% of
    > the time. Just like Long Term Capital and a bunch of other hedge
    > funs.
    >
    > But there is the Gambler's Ruin principle that if you bet all your
    > wealth all the time, and win "all but one," you will lose everything.
    >
    >
    > In the end, it's not the occasional losses that kill you, it's the
    > leverage.
    2009 Nov 07 07:51 PM Reply
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