- Goldman Sachs Group Inc lost more than $1 billion on currency trades during the third quarter
- Foreign exchange was the only trading area that was a money loser
- The data comes from regulatory filings with the U.S. Securities and Exchange Commission and the Federal Reserve
- Goldman’s currency-trading problems came from the way the bank had positioned itself in emerging markets, two sources familiar with the matter said
- some of Goldman’s rivals also said they had a difficult quarter in currency trading
More: Goldman Sachs burned by bad currency bets in third quarter
Bummer …
But, someone musta made it if they lost it …
—
ADDED – there’s more details coming to light: More on Goldman’s $1 billion currency trading losses … Slump Tied in Part to Faulty Currency Trade
