.
if you're anything like me, you know how risky and uncertain playing the market can be--how, with the infinite number of variables constantly in play, it's impossible to pitch a perfect game for more than a few days in a row, right?
yeah well, you obviously don't work for the big boys.
consider for a moment the following chart from page 121 of goldman sach's 10-Q for first quarter 2010.
the columns to the left of the red arrow [which i've added for your viewing convenience] represent negative (i.e., money-losing) days for goldman during the 63 trading days of the quarter; whereas the columns to the right of the red arrow...
h/t zerohedge
in case you don't believe your eyes, allow me to break it down for you:
- on seven of those 63 days, goldman made between $25 and $50 million;
- on five of those 63 days, goldman made between $50 and $75 million;
- on 16 of those 63 days, goldman made between $75 and $100 million; and
- on 35 of those 63 days, goldman made $100 million or more.
and on how many days in Q1 '10, with all the market's ups and downs, did goldman lose money? why, not a single one. you wanna calculate the random statistical probability of 63 straight days of high-volume high profitability in a row, go ahead, but you're gonna need a calculator with decimal places into the quadrillions.
jpmorgan's chart in their 10-Q for the same period is much more efficient--they don't even bother wasting space on empty negative columns (and the pretty purple's nice, too):
you get it, right? the american stock and bond markets have devolved into nothing more than a rigged, no-risk playground for the big bankers funded by as much zero-interest money from the fed as they can grab, and they're not even bothering to pretend to have bad days anymore--they know this is the endgame, and they're taking everything off the table they can before the casino goes dark, aided and abetted in their brazen, bulletproof arrogance by the full faith and credit of the government of the united states of america.
anybody out there willing to put down their remotes long enough to grab a torch and a pitchfork? nah, didn't think so.
3 comments:
Well, why is it no one is in prison then?
I do not know if any laws were broken. But, if laws were broken, people need to spend time behind bars.
If no laws were broken, that is even more troubling. If no laws were broken, laws need to be written to make it illegal. You cannot play people for chumps and then walk away with a win-win situation.
noblesavage: at some point you're really gonna have to wake up and smell the coffee.
the reason no one's in prison is because ever since the late '90's, the bankers have been writing the laws that govern their behavior. google "front-running" (which is supposed to be illegal, and with good reason), then imagine the devil's bargain the government had to make with the bankers in order to keep this fragile market afloat these past two years, re-read this post and then get back to me.
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