Who cares about dwindling trading revenues when you can do very nicely investing your own money? Goldman Sachs did just that in the second quarter of 2014, posting better than expected net profits. The Wall Street bank’s trading in stocks for its own account as well as its lending business generated $2.1bn in revenues, a hefty 46 per cent increase from a year ago. Pity, though, that the gains – coming mainly from private equities – are unpredictable. So, there is little to be euphoric about.
如果你用自己的資金投資順手,誰在乎交易業務營收減少?高盛(Goldman Sachs)在2014年第二季度的情況正是這樣,該行報告的淨利潤好於預期。這家華爾街銀行的自營賬戶股票交易和放貸業務產生了21億美元營收,同比大增46%。可惜,這些斬獲(主要來自私募股權)是不可預測的。因此,沒什麼訊息真正讓人陶醉於喜悅。