Goldman Sachs Misses on 4Q Equity Trading Revenue

The transcript discusses Goldman Sachs' efficiency and cost management, highlighting their ability to keep non-compensation costs down while investing in talent. Concerns about declining equity trading volumes are addressed, with a focus on the strategic shift towards asset management and consumer banking. The discussion also compares technology investments between Goldman Sachs and JP Morgan, noting significant revenue growth. Finally, the transcript analyzes equity trading revenue concerns, emphasizing the importance of fees and M&A growth.

What factors contribute to Goldman Sachs' efficiency ratio being more favorable compared to JP Morgan?

How has the trading volume decline impacted the concerns of traders at Goldman Sachs?

What are the implications of the deal with GreenSky for Goldman Sachs' consumer banking sector?

In what ways has Goldman Sachs invested in technology, and how does this compare to JP Morgan?

Discuss the significance of M&A growth for Goldman Sachs in the current market context.