Goldman Reports Q4 Revenue Days: $100MM+ Profitable Days Plunge From 36 To 15; Ratio Of $100MM+ Wins/Losses Days In 2009: 131 To 0

Is normalization coming back to the stock market? A quick glance at the Goldman daily trading net revenues in Q4 demonstrates that the easy money for the firm may have been already made. While in Q3, Goldman reported just one days of losses in 65 total trading days, as well as 36 days of $100MM+ profits, in Q4 the distribution looks much more normal (if still massively skewed toward profitability). In Q4 the firm announced it lost between $25 and $50 million once, lost under $25 million for 7 days, but most notably made over $100 million on "just" 15 days, a 58% decline from Q3. The Q4 $100MM+ trading days represent just 11% of all 2009 $100MM+ trading days. And here is an observation for you distributions fans: in 2009, Goldman made over $100MM on 131 out of 263 trading days, or 50%. It lost over $100MM on 0 out of 263 trading days, or 0%.

Full year 2009 Goldman trading days by quarter: