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.
如果你用自己的资金投资顺手,谁在乎交易业务营收减少?高盛(Goldman Sachs)在2014年第二季度的情况正是这样,该行报告的净利润好于预期。这家华尔街银行的自营账户股票交易和放贷业务产生了21亿美元营收,同比大增46%。可惜,这些斩获(主要来自私募股权)是不可预测的。因此,没什么消息真正让人陶醉于喜悦。