"The Whole World Didn't Adjust Their Risk Overnight" - Here's What Goldman's Top Trader Is Seeing, Hearing, Thinking
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The post-mortems are arriving en masses and here is Tony Pasquariello's - head of Goldman Sachs hedge fund coverage - initial check-down of what he's seeing / hearing / thinking:
What’s most clear from our franchise flows - again - is the technical setup.
The trading crowd walks into today with light risk and a good reservoir of p/l.