So Goldman Sachs is Mortal

This is an interesting little snippet I so today while perusing the headlines: Goldman Loses Money on Volatility Bet in 2nd Quarter . Goldman Sachs (GS) had one of the most astonishing win records ever prior to this point with large bet after large bet paying off handsomely. Betting that volatility would drop when they did actually struck me as a peculiar thing because in most of the second quarter we were dealing with a series of unfolding crises. Perhaps Goldman thought they would pass more rapidly.