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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LawsofPhysics's picture

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

Pladizow's picture

And they'll still collapse!

Ness.'s picture

And we'll still bail them out.

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.

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

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.

Stackers's picture

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

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  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.

Freddie's picture

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

Rustysilver's picture

The Phu,

I wish I took your advise 25 years ago.

eclectic syncretist's picture

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

Manthong's picture

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

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

Freddie's picture

"What does it matter!!!"

Pairadimes's picture

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

smlbizman's picture

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

fourchan's picture


slightlyskeptical's picture

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

Apocalicious's picture

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

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


xtop23's picture

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

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.  

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.

Groundhog Day's picture

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

CharliePrince's picture

insider info?  on fed actions

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"


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


Possible Impact's picture

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

pods's picture

Now that is doubleplus good!


B2u's picture

Must keep bonuses flowing to the 1%.

Dr. Engali's picture

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

FoeHammer's picture

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


Muppets by definition cannot win!

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

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.  



TeamDepends's picture

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

thepigman's picture

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

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