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The Goldman Party Is Back As Prop Revenues Soar, Average Compensation Surges To $404,172
Goldman is back. After the market beating hedge fund, which unlike its peers needs no DVA/CVA or loan loss releases to pad its numbers, was forced to exist in the scandalous shadow of its larger peers (coughjamiedimoncough), the tentacled one is back to making waves on its own, following a Q3 EPS beat of $2.85 on expectations of a $2.28 print, and revenues of $8.35 billion on expectations of $7.18 billion. The reason for the beat? A surge in Investing and Lending (aka Prop trading) revenues, which is the biggest quarterly variable, and which soared to $1.8 billion in Q3 from a paltry $203 million in Q2, and from a major loss of $2.5 billion in Q3 of 2011. All other business segments were in line, with IB down modestly from Q2, Client Flow in FICC in line sequentially, Client Flow in equities rising modestly due to a jump in Equities Client Execution, and a sequential drop in Investment Management. And that's it: no balance sheet or accounting gimmicks, which one has to at least give GS credit for. The bottom line for GS employees as a result of its hedge fund once again performing as expected? With compensation margin fixed firmly at 44% of net revenues, this means employee comp provisioning soared to $3.675 billion, far above the $2.9 billion in Q2 and $1.6 billion in Q3 2011. It also meant that the average comp for the firm's 32,600 in total staff at period end (up from 32,300 in Q2 and 32,400 in Q1) is now an average $404,172, the most since Q2 2011. It just may be a great bonus year for Goldman after all.
Revenue breakdown by segment: not the highlighted surge in Goldman Prop:
And average TTM employee comp. Whoosh.
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So now we know who was on the other side of the JPM Chase "whale" trade?
So......who wins the free Lamborghini?
Obama - the best investment these fuckers ever made.
Yes, and now they are investing in Romney.
Yes, and now they are hedging with Romney. -fixed
Maggots.
Ponzi's make awesome money...until they don't.
Burn the fuckers down.
Don't worry, this is good for you too. You just don't know it yet and wouldn't understand if we tried to explain it to you.
But, yea, it's good for everyone.
Guess what? They win again. And, they'll win the next time too.
This is the result of "doing God's work". Of course, they never defined who exactly God is.
Pimps
Take it up with Mack Daddy.......he be the head hoe in charge.
Can ZH also apply for Fed primary dealer & bank status to get free 0% money ? This is getting old...
Fancy that then.
Giving yourself and your staff bonuses not worth the paper it is not written on?
Have these bottom feeders got no morals? Do these labour stealers not tune into the alternative media and feel the rage that their disgusting behaviour is producing? This must be some kind of sick and twisted joke. For gods sake, I personally know people who either heat their homes, or buy food on alternate days just to keep fucking going, and these bastards reward themselves at our expense?
This has got to end, and god knows just what the rage that is unleashed will be when this finally does come down. This is sick beyond words.
They must get good overtime.
They earn money the old fashioned way..............stealing from taxpayers
That's great! I'm long since 95, and as a trading recommendation to you guys, anytime this firm has a sell-off, step in to buy... I've been doing that for many years as these guys hire the best and brightest and have extensive connections, which means as a shareholder you get hard workers creating a ton of revenue
This is funny " surge in Investing and Lending" what are they suppose to do? Put their money in a 3 year note? LOL The reason you invest with them is because they are a great trading firm. Some people might complain about the money they make, they should just invest and take part in it!
Pure horseshit, Sandusky, you are buying a liability like a sucker buying booze for underage little boys. You may get laid but you will be gutted afterword!
Get a fucking clue.
I'd rather get free money like they do and make the investment myself. Then I don't have to pay them 44% of the profits for the privilege of kissing their ass. You don’t have to be a genius to make a fortune on the easy terms the Fed has handed them. Any fool can do it, even if you are investing in T-Bills. Of course, the Fed is never going to give you and me that privilege now are they, otherwise, there would be no need for Goldman Sachs.
The only real thing GS is successful at is getting their cronies appointed to & weaved in tightly to the key Cabinet positions, &/or policy making posts... When you own the government ~ you can coin you own money...
So you don't think it's advantages to be a shareholder of a company with access and privileges? LOL
Thanks, you just stated the best reason to own GS!
I think that's the best thing to count yourself among the parasitic leeches of society...
You should change your USERname to 'Dathan'
~~~
http://www.imdb.com/character/ch0006225/
NEWS:
Pandit's out as CEO of Citi.
Fuck you and good bye!
he stole so much money out of that company it isn't even funny
So many articles on here and elsewhere (Rosie etc.) preaching earnings matter. Can we stick a fork in this assertion finally?
thatll get you through 40 years in the desert!
Goldfuck sacklicking faggots get no respect. Money can't buy it and the corporation of bullshit don't come with it.
There are a "Bank" aren't they...... Just asking...
gubbermint guaranteed hedge fund
Whew...I was worried about them. The way they were talking I thought there might be some acrimony between them and the administration. I'm glad to see that isn't the case.
Fukk goldman and fukk the fed. where's my free money, a$$holes?
Queue the pimps and coke dealers.
Does Bernanke get invited to the Christmas Party,...oops I meant Holiday Party?
Prop trading, lol! That's where they sell dumb shits some bonds or equities and then quickly take the other side and run it into the ground. Insider trading at its finest. Even better now with Fed 0% cash!
"Equities Client Execution" LOL
Ffuck you Lloyd.
Big payouts does not happy Sachs make: http://seekingalpha.com/symbol/gs?source=search&s=gs the fact is they're a dog of an equity just like the rest of them. still not as bad as this chart: http://seekingalpha.com/symbol/aig?source=search&s=aig easily the worst run financial services company in US history. Are there any winners? http://seekingalpha.com/symbol/met?source=search&s=met not really. oh wait! here's one: http://seekingalpha.com/symbol/tlt?source=search&s=tlt the Government! no problems there! GREAT job Wall Street. WINNERS ALL!
Yeah...it's a "Goldman Party" all right. 100 billion down on social media alone? in less than a year? "rock on brothers!"
I recommend watching "Boiler Room", especially the ending scene when the paddy wagons and prison buses pull up to the fictional "JT Marlin" headquarters to arrest all the fictional financial criminals. Either this happens in real life for Wall Street crooks, Capitol Hill bandits, and White House conspirators or these arseholes will gladly finance WWIII and billions may perish in nuclear flames.
goldman sachs.
the devill's lair. they buy souls in return for huge profits, destroying the world economy. why doesn't anybody try to stop them. have they bought too many souls?
I don't understand, why can ZH be so anti-finance and then on the odd occasion like this come out drooling over one of if not the worst investment bank known to man. My cognitive dissonance is always getting activated on this sight. You're either on the side of finance or you're not. Everybody must realise that these "profits" are achieved through nefarious activities such as, 0% financing from the fed, QE3, hidden bailouts, where does it end?
You're mixing your points, bailout was an Obama policy, the Fed is seperate and why vilify a company from using what's legal in the best course of business? In fact it is their fiduciary duty to create as much profits as possible for their shareholders. Would you prefer they lose money? LOL
Should we be mad at someone who chooses a lower interest rate? If your bank offered you 2% lower interest rate, should you say 'no, I prefer paying a higher rate'?
This is ridiculous, if the Fed and politicians create a certain environment, a company has to do what it can within that structure. If someone doesn't like the structure, elect politicians that will change it!
It's similar to those moronic wall st. protesters mad at banks when they should be mad at the politicians that they voted for who enacted the current legislation.
BTW: I suppose you're also mad at saving GM and those jobs? Funny how people get mad at one and not the other. Either you support all bailouts or none. I prefer no bailouts across the board
Doing God's work has never been so profitable...
Alpha Hunter, actually the bailouts were started by Bush! That is not the topic anyway. You said the Fed is seperate and that is exactly the point we should be talking about. The fed carries out these policies without any voter input whatsoever, does it not worry you that they are able to invent money at will and bail out their member primary dealer banks? Talk about the biggest conflict of interest known to mankind.
The sole mandate of the Fed is to bail out banks; end of story, this despite the extreme risk taking and criminal and fraudulent practices of these institutions. People like you make me sick, you are coming on here and saying that we should reward criminals by having the fed do what they do best, namely print money! To hell with the common man as long as the banks survive thats good in your book. Well lokk at the evidence so far trillions of dollars thrown at the banks, upwards of 27 trillion, and still no effect on employment, unless you believe the bullshit BLS figures! This is an elite economy now, the rich get richer, you're probably one of them, and the poor get poorer.
You mentioned GM, yes I am against GM bailouts, that is not the topic of this article though, you employ classic troll debating tactics, doesn't work on me pal. Comparing GM bailouts against bank bailouts is meaningless, bank bailouts overshadow GM by a margin unfathomable.
Next you suggest that the banks are only getting away with what the politicans allow them. The politicinas are controlled by the banks for fuck sake! The bankers put the politicians in the positions of power, do you really actually believe that Obama and Romney sit down and write all of their speaches, do you think they have any say on what laws are passed, your damn naive if you do! Have you not heard of the reveolving door in politics and finance, have you not heard of the lobbyist influence on politicains, having you not heard of the corruption and sleaze of the SEC under Mary Shapiro. Saying that the politicains are responsible and the bankers are only getting away with what they're allowed to, is like saying the Wolf is not to blame if the farmer leaves the door to the hen house open!
You're not typical of people on this forum, people who have a soul know that these bailouts are wrong and morally reprihensible. Go and troll somewhere else.
Something else, it doesn't matter who you vote for, every politician will enact banker freindly reform, they are all lackeys of the banksters. You say that we should not criticize the Fed for lowering the interest rates, so it's ok for the banks to borrow at 0%, whilst at the same time charging us 15% for credit cards and only lowering the mortgage rate by 12bps after QE3. See who wins every tme? What about the cost of that free money, what about the cost of oil what about the cost of food what about the cost of healthcare, in fact what about the cost of everything that the common man needs to survive! All so your beloved banksters can walk away with mega bonuses in their fixed ponzi schme. You know what FUCK YOU!
I believe that bailouts are wrong, I also believe paying fines is a joke - i'm all for putting people in jail, especially bankers! My point is that if you ran a business that said you may deduct % as an expense, you will try to maximize the most amount possible to generate the highest return, doesn't matter if you're a bank or running a small business.
Regarding politicians this is my point! I believe we need to have zero lobbyist and a maximum contribution of $100 per person, no corporations! I'm arguing that we should start yelling at the correct people the ones in Washington! We need to elect politicians that want to change the system.