PitNews.com | Futures News - The Daily Jurojin

The Daily Jurojin by The Secret Order of Jurojin Date: 02/08/10 Estimated Update: 02/09/10 Company: The Secret Order of Jurojin Phone: 800-462-4691 E-Mail: support@jurojinweekly.com Website: www.JurojinWeekly.com

A Bank More Profitable Than Goldman Sachs Perhaps the most revered bank in the world and certainly the goal-employer of any of the globe's gutsiest traders, just the name of Goldman Sachs on the other side of the deal ticket is enough to send shivers down a trader's spine. Its proprietary trading desks around the world made more than $100 million in trading revenue on a record 46 separate days during the second quarter of 2009, or 71 percent of the time, breaking the previous high of 34 days in the prior three months. Reaching partner status at the bank can be extremely lucrative. Recently its 100 U.K.-based partners limited their bonuses to $1.6 million as the government casts a dim view on the banking sector. Many employees go on to influential positions at global central banks and within government posts. Former U.S. treasury secretary Hank Paulson was poached from his position managing Goldman Sachs in New York to deal with the global crisis in 2007. His recent book revealed how he'd slumped behind a pillar during one nauseous bout, out of the sight of photographers at the height of the crisis. You can pretty much guarantee that never happened while he was managing risk at Goldman Sachs. During 2009 Goldman's revenue from fixed-income, currencies and commodities trading surged to $23.3 billion in 2009. Can you imagine $63.8 million passing through your hands each and every day of the year? However, as American markets return to normal and competition between big Wall Street names intensifies analysts reckon that the pressure is on for the bank to maintain its status. Disclaimer: Past performance is not necessarily indicative of future results. The risk of loss exists in futures and options trading.