I’m Calling BS On Goldman Sachs

Sorry, not buying that they did this in anyway that was legal.

Goldman Sachs Group Inc.’s traders made money every single day of the first quarter, a feat the firm has never accomplished before.

Daily trading net revenue was $25 million or higher in all of the first quarter’s 63 trading days, New York-based Goldman Sachs reported in a filing with the U.S. Securities and Exchange Commission today. The firm reaped more than $100 million on 35 of the days, or more than half the time.

I am absolutely not buying that any company legally earned a positive net every day in a quarter. It didn’t happen. Not legally at least. No, I don’t have any proof. But seriously, is there anyone that can with any mathematical certainty this is possible?

Think about it. This means they did not have one down day. They came out ahead EVERY day without a loss. For three months running. No day with a loss? Give me a break, even the ultimate of traders has down days.

The lack of trading losses could add to the perception that Goldman Sachs has an unfair advantage in the markets, said one shareholder.

“It will reinforce the heads we win, tails you lose mentality that people think actually exists and promotes the concept of an unfair advantage,” said Douglas Ciocca, a managing director at Renaissance Financial Corp. in Leawood, Kansas

Ya think Doug?

“This is the first time we have reported zero trading loss days in a quarter,” Samuel Robinson, a Goldman Sachs spokesman, said in an e-mail. “We believe it shows the strength of our customer franchise and risk management.”

Or you lied or made your money illegally. You really expect me to believe, that you did not have one single down day as traders? All of your traders are superhuman beings that do not lose their trades? Like I said, bullshit. Not in any legal and on the up and up market.