Why hasn’t there been more discussion about this article?
It is the Wall Street equivalent of a perfect game of baseball — 27 up, 27 down, the final score measured in millions of dollars a day.
Despite the running unease in world markets, four giants of American finance managed to make money from trading every single day during the first three months of the year.
Their remarkable 61-day streak is one for the record books. Perfect trading quarters on Wall Street are about as rare as perfect games in Major League Baseball. On Sunday, Dallas Braden of the Oakland Athletics pitched what was only the 19th perfect game in baseball history.
But Bank of America, Citigroup, Goldman Sachs and JPMorgan Chase & Company produced the equivalent of four perfect games during the first quarter. Each one finished the period without losing money for even one day.
I realize we’re used to the Masters of the Universe “beating” “the odds” on “the market.”
But don’t we expect that they’ll maintain the illusion that the game isn’t rigged? In other casinos, after all, someone has to make it big on the slot machines every once in a while to get others to keep coming back.