When Goldman Sachs reported second-quarter results, the Street seemed surprised that the mighty trading giant had stumbled in the game of risk.
But today, one wonders if it stumbled or was, perhaps, just a bit early in its insight. In an ocean of red, Goldman Sachs is trading modestly higher today, gaining about 0.3% to $131.55. All of its financial rivals are trading lower, along with the broader market.
Letâ??s go back and look at what Goldman said when it reported on July 19. Chiefly, it had sharply reduced its risk-taking. Its Value at Risk measure dropped to $101 million, down 26% from the year-ago quarter and its lowest VaR since the 2006 third quarter.
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