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I have a hunch, call me a cynic but a lot of the $2.7b trading profits Goldman recorded in its recent 2nd quarter are likely to turn into losses during the 2nd wave downturn in the markets.
I know nothing about which markets they trade in, but I have a hunch a lot of the profits were marked to market in a very dicey environment. If the same m-t-m principles apply in the leg down watch these boys go from hero to zero.
