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IPFS News Link • Stock Market

End Of An Era As Goldman Stops Reporting Prop Trading Results

• https://www.zerohedge.com by Tyler Durden

(because apparently all it took to confuse regulators was a name change), the bank once known as Government Sachs (and in its glory days better known for incubating virtually all central bankers and possessing the street's most fearsome prop trading desk, but those days are now long gone) and is now better known for its co-branded Apple credit cards which target subprime consumers, has stopped reporting its prop results.

As first noted last week, Goldman revamped its quarterly reporting structure to "inject more visibility" into how the firm makes money, in response to growing investor concerns that report "clarity" could boost the stock price. And while the stock price was indeed boosted, Goldman decided to not only reclassify its revenues making any historical comparison impossible but add far more complexity and opacity into how it makes money, by deleting the investing & lending reporting line as well as any mention of this segment, often its most profitable in periods of rising markets - expect, paradoxically for the current "rising market" - but one that also drew complaints about transparency.


thelibertyadvisor.com/declare