Uncertainty, Calm, Paralysis, Whatever; it does not matter: ‘Goldman Sachs…”riding a wave of volatility triggered by an emerging global trade war,” … posted a record quarter, with equity-trading revenue up 27% from a year earlier. Revenue came in at $15.1 billion, beating Wall St. expectations of $14.8 billion. Goldman echoes JPMorgan and other peers that reported strong quarterly earnings Friday.’ – LinkedIn News
Yes, top or bottom or sideways, Wall Street’s best can always make money. In short, when the market is calm, trading volume may be limited. But under uncertainty when everyone is running for a shelter, banks like Goldman Sachs rake in tons of fees and those are revenues!
How can you build a business that no matter what happens, you will always be in the right spot? How do we create a resilient business model? Goldman Sachs takes companies public, raking tons of money for the IPO process, via the investment banking unit. But during uncertainty, IPOs dry up, but the bank has another fudge factor to compensate, via its traders.
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In the finest Igbo novel ever written – “Isi Akwu Dara N’ala” by Tony Ubesie – Chike laughed and made it clear that the plan was to build “osisi na ami ego” [a tree that produces money as the fruits] because when that happens, it is a virtuoso circle of abundance, triggering shareholders’ superior returns. The best will always have great seasons because they have the capacity to predict since they create the future.
This week, “Donald Trump defined intelligence as the ability to predict the future.” Check balance sheets and income statements, you can see the smart people! My desire is to become better because in a world of numbers as Pythagoras made clear, those who understand the connections will always WIN, irrespective of whatever!
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Our big banks are also learning fast from GS and co, so whether the economy is good or bad, they are making tons of money. When you are outside your house, you can see the sky, that does not mean that all those who are outside see the same size of sky and from the same position. It is one thing to be able to predict the future, but it’s a different thing having the agency to act on what you can accurately predict. That lack of agency is oftentimes the main issue as to why some of those who can see far into the future won’t still be able to do anything about it.
For now, those who win will be regarded as the best, until others who are smarter acquire the agency to compete.