Blankfein Says Goldman Underperformed in FICC Trading

The transcript discusses the performance of a diversified business group, highlighting challenges in the Fick business and the need for better execution. It addresses structural issues in the commodities sector and the importance of adapting to market changes. The focus is on improving client base distribution and maintaining resilience in a changing market environment.

What is the main reason given for the firm's underperformance in the Fick business?

• Execution issues

• Lack of diversification

• High competition

• Economic downturn

What is the primary issue discussed in the commodities business?

• Lack of investment

• Structural problems

• Regulatory changes

• Cyclical challenges

How does the firm plan to address its client base issues?

• By reducing corporate clients

• By focusing more on hedge funds

• By diversifying its client base

• By increasing trading activities

What is highlighted as the firm's core skill set?

• Cost-cutting

• Resilience and adaptation

• Market expansion

• Innovation

What is the firm's approach to handling cyclical market changes?

• Reducing client diversity

• Scaling to the environment

• Focusing solely on commodities

• Maintaining a fixed strategy