Bank Of America Q1 Profitable Trading Days: 100%

Tyler Durden's picture




 

After the "humiliating" performance in Q4 2012, when Bank of America had a whopping 2 trading loss days out of 61, in has managed to redeem itself in the first quarter of 2012, when not only did it record seven trading days when it generated revenue of over $100 million daily, but more importantly it had zero days (of 60 total) with any net trading losses: a track record that can only be matched by any daytrader on Twitter. After all, what is better than trading when there is no risk of loss.

From BAC:

The histogram below is a graphic depiction of trading volatility and illustrates the daily level of trading-related revenue for the three months ended March 31, 2013 compared to the three months ended December 31, 2012. During the three months ended March 31, 2013, positive trading-related revenue was recorded for 100 percent, or 60 trading days, of which 97 percent (58 days) were daily trading gains of over $25 million. These results can be compared to the three months ended December 31, 2012, where positive trading-related revenue was recorded for 97 percent, or 59 of the 61 trading days, of which 69 percent (42 days) were daily trading gains of over $25 million and the largest loss was $50 million.

And the stunning histogram:

Going further back, here is 2011 and 2012:

And summarizing it all: since the start of the New Normal 2009, Bank of America has had 962 profitable trading days, with just 97 days with trading losses: a 90.8% win record.

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Wed, 05/08/2013 - 10:45 | 3541040 LawsofPhysics
LawsofPhysics's picture

Must... keep... pensions... solvent...

Wed, 05/08/2013 - 10:52 | 3541067 Pladizow
Pladizow's picture

And they'll still collapse!

Wed, 05/08/2013 - 10:56 | 3541087 Ness.
Ness.'s picture

And we'll still bail them out.

Wed, 05/08/2013 - 11:02 | 3541120 The Phu
The Phu's picture

My dad asked me the other day why I stopped trading stocks regularly and moved into illiquid assets like silver and copper-jacketed lead (not to mention those horrible implements of evil that throw that Cu+Pb at 2000fps).  My response was that I didn't feel that the market provided the little guys like me even a hair of fairness.  When HFT trades bid up take a penny per share per each trade from me, money-center banks maniupulate markets and never lose, and when the market goes up every day the fed conducts POMO, I cannot even dream of beating the house.  I'd argue that my chances are actually better at the casino than in the stock market.  Alas, it's easier for me not to play the game and just defend my stack.

Wed, 05/08/2013 - 11:03 | 3541125 Zer0head
Zer0head's picture

Look out Goldman , BAC might just steal away the prized "Madoff Cup" you so proudly display in the front lobby of 200 West

Wed, 05/08/2013 - 11:13 | 3541168 MillionDollarBonus_
MillionDollarBonus_'s picture

@The Phu

I'm not sure what you are talking about? If you had simply invested in a major stock index like the S&P 500, you would have realized spectacuar gains over the last four years. Those stock returns are not just for the big guys - those returns are also for you.

Wed, 05/08/2013 - 11:13 | 3541178 Stackers
Stackers's picture

unless said little guy bought at the top of 2007 .......

Wed, 05/08/2013 - 12:17 | 3541436 The Phu
The Phu's picture

Hi MDB_,

 

Thank you for pointing out that I should, as a small, uneducated investor, trust my money to the market and "ride the wave."  I hate with my 401k and the few remaining IRA assets that are highly correlated to market moves.  However, the wealth effect that central planners are hoping I would feel have been offset by losses on my house, stagnating income growth (as an employed 30-year old, I'm fortunate to have a job, let alone one in which I'm fairly well compensated and have seen my income double since I first enetered the work force).  However, while my paper wealth in those retirement vehicles has increased, those are returns that I cannot touch (without tax penalties) for another, at best 29.5 years. 

What has increased in value better in that same time horizon?  I used to buy .223 ammo for $0.22 per round in 2008-09 time frame.  Last I looked, which was a few months ago, the same brand & style ammo was fetching close to $1.00 per round on sites like bulkammo.com.  My paper gain on the ammo, and the gun that shoots the ammo, have displayed fantastic gains.  However, those are unrealized gains because I recognize the utility of the ammo and the gun are worth more to me than the fiat I could convert them into.  I thank Barack Hussein Obama for that wealth effect... and only BHO!

My final point is this.  I used to believe that the Oracle of Omaha was a smart dude.  In fact, in today's universities, the Buffett model of investing is taught as if it were religion.  However, the school of hard knocks has taught me to see the real truth - he's a kleptocratic parasite.  I have never felt more wealthy than I do today with a stack of real money "under my bed" instead of a pile of Benjamins in my wallet or in the bank. 

I realize that your comments are made in jest.  Mine, however, are not.  I have real wealth - a good family, a good head on my shoulders, means of defense, some fiat, some real money, and beans, bullets, and bandaids.  I don't rely on a morally and fiscally bankrupt gov't for anything.  I believe in Liberty and personal responsibility.  I could give a rat's ass what happens on Wall Street because I'm no longer a slave to that paradigm - unplugged from the Matrix, so to speak.  And I couldn't be happier as a result. 

 

Best of luck to all of you when the system, the world as we know it, comes crashing down.  If it doesn't come crashing down, if I'm wrong, then come on over and we'll drop some ammo, drink a few beers, and polish some silver.

Wed, 05/08/2013 - 14:42 | 3542076 Freddie
Freddie's picture

So what did he say?  "F**k you Bernake!"

Wed, 05/08/2013 - 14:44 | 3542092 Rustysilver
Rustysilver's picture

The Phu,

I wish I took your advise 25 years ago.

Wed, 05/08/2013 - 11:04 | 3541132 eclectic syncretist
eclectic syncretist's picture

This is absolutely in-fucking-possible without some form of insider trading going on.

Wed, 05/08/2013 - 11:30 | 3541255 Manthong
Manthong's picture

Hillary turned 1K into 100K in cattle futures..

it's a piece of cake..  if you have official privilege

Wed, 05/08/2013 - 14:43 | 3542087 Freddie
Freddie's picture

"What does it matter!!!"

Wed, 05/08/2013 - 11:46 | 3541321 Pairadimes
Pairadimes's picture

Sunuvabitch. I think I just saw a unicorn walk past my office window.

Wed, 05/08/2013 - 12:08 | 3541409 smlbizman
smlbizman's picture

goldman has the same kind of record, i would guess jpm and hsbc et.al do also....so can you guess who has to be losing ?

Wed, 05/08/2013 - 10:57 | 3541094 fourchan
fourchan's picture

SO HOW IS THIS EVEN POSSABLE?

Wed, 05/08/2013 - 11:05 | 3541140 bobnoxy
bobnoxy's picture

Perfect fore-knowledge?

Wed, 05/08/2013 - 11:10 | 3541161 slightlyskeptical
slightlyskeptical's picture

Front running by HFT. It's a guaranteed profit if done on a large enough scale.

Wed, 05/08/2013 - 11:47 | 3541326 Apocalicious
Apocalicious's picture

Scalping your clients. Or the more politically correct term is flow trading. FLOW!!! Its the new prop.

Wed, 05/08/2013 - 11:02 | 3541116 mac768
mac768's picture

I just wonder how the "Bill Gross Haircut" looks on BAC, could be an ugly sight...

but dont worry, Dr. Bernanke will take care of it...

in the end, main street will get the haircut and wallstreet looks just fine

QED

Wed, 05/08/2013 - 11:16 | 3541192 xtop23
xtop23's picture

And continuing to pay effectively nothing in interest to it's future victims.... I mean depositors.

Wed, 05/08/2013 - 10:59 | 3541105 slaughterer
slaughterer's picture

BAC--we are talking the dumbest of the dumb.  100% success.  Clearly, HFT has some merits: even a moron can use it to make money.  

Wed, 05/08/2013 - 12:05 | 3541400 Colonel Klink
Colonel Klink's picture

If anyone here on Zerohedge still banks with any of the majors, then you're truly not putting your money where your mouth is.

Wed, 05/08/2013 - 11:06 | 3541146 Groundhog Day
Groundhog Day's picture

back to the perfect trading days....thoses traders must be geniuses

Wed, 05/08/2013 - 10:46 | 3541043 CharliePrince
CharliePrince's picture

insider info?  on fed actions

Wed, 05/08/2013 - 10:52 | 3541066 doomandbloom
doomandbloom's picture

just BTFD

Wed, 05/08/2013 - 10:58 | 3541097 DoChenRollingBearing
DoChenRollingBearing's picture

We try to BTFBearings as rationally as possible.  We are using Factor aAnalysis to help model our sales data set to give us insights into sales patterns.  Take a look only if you like numbers!

"Factor Analysis of Ameru Sales"

http://tinyurl.com/bsjlho7

***

I encourage anyone who is really good at numbers to critique my piece, thank you.

 

Wed, 05/08/2013 - 10:46 | 3541044 Possible Impact
Possible Impact's picture

If you check the math, it is actually 105% of the time.

Wed, 05/08/2013 - 10:50 | 3541057 pods
pods's picture

Now that is doubleplus good!

pods

Wed, 05/08/2013 - 10:47 | 3541046 B2u
B2u's picture

Must keep bonuses flowing to the 1%.

Wed, 05/08/2013 - 10:47 | 3541047 fonzannoon
fonzannoon's picture

POMO

 

Wed, 05/08/2013 - 10:49 | 3541051 Dr. Engali
Dr. Engali's picture

FOMO

Wed, 05/08/2013 - 10:55 | 3541082 Seasmoke
Seasmoke's picture

HOMO

Wed, 05/08/2013 - 11:01 | 3541115 gimli
gimli's picture

Andrew Cuomo

Wed, 05/08/2013 - 11:03 | 3541123 Dr. Engali
Dr. Engali's picture

Maria Bartiromo

Wed, 05/08/2013 - 11:27 | 3541248 OneTinSoldier66
OneTinSoldier66's picture

Sonny Bono

Wed, 05/08/2013 - 11:30 | 3541257 BeepBeepImAJeep
BeepBeepImAJeep's picture

Tony Romo

Wed, 05/08/2013 - 11:48 | 3541328 Pairadimes
Pairadimes's picture

Majordomo

Wed, 05/08/2013 - 14:58 | 3542154 Ban KKiller
Ban KKiller's picture

Burned out Limo

Wed, 05/08/2013 - 10:55 | 3541085 fourchan
fourchan's picture

MOFO

Wed, 05/08/2013 - 11:06 | 3541144 prains
prains's picture

OBOMO

Wed, 05/08/2013 - 11:15 | 3541187 WhyDoesItHurtWh...
WhyDoesItHurtWhen iPee's picture

GITMO

Wed, 05/08/2013 - 16:20 | 3542439 prains
prains's picture

NO MO!

Wed, 05/08/2013 - 10:48 | 3541049 Dr. Engali
Dr. Engali's picture

I think that the only person who can't make a profit in this market is Jim Cramer.

Wed, 05/08/2013 - 10:54 | 3541080 FoeHammer
FoeHammer's picture

lol. He must be too busy playing with his sound board.

 

Muppets by definition cannot win!

Wed, 05/08/2013 - 10:51 | 3541059 GraveyardSpiral
GraveyardSpiral's picture

Profit?  There's that word again.  I thought it was not "fair" to make a profit.  What's going on here????????

Perhaps its "Prophet" and I am misundertsanding something...or someone

Wed, 05/08/2013 - 10:54 | 3541070 Ness.
Ness.'s picture

Bonds ripping higher, stocks ripping higher...time for me to get higher.  

 

At least the banks and F&F are making money.  

 

FORWARD!!

Wed, 05/08/2013 - 10:53 | 3541071 TeamDepends
TeamDepends's picture

They must have the best of the best working there...

Wed, 05/08/2013 - 10:57 | 3541086 thepigman
thepigman's picture

Crash master Ben Bernanke....I think he can  do it. Crash it, Ben.

Wed, 05/08/2013 - 10:58 | 3541096 Arrowflinger
Arrowflinger's picture

Tyler - there seems to be a niggling typo in the intro paragraph..."has managed to redeem itself in the first quarter of 2012" ....looks like that should be 2013

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