GOLDMAN SACHS' PRESIDENT: 'We can grow revenue infinitely'
NEW YORK (Reuters) - Senior Goldman Sachs Group executives took a victory lap on Tuesday, telling an investor conference that the bank's recent results show they have been right all along about its trading-heavy business model.
Goldman's top brass have been arguing for years that a business lull that began in 2010 was "cyclical" and would eventually end. Volatility would pick up again, they said, and clients would go back to trading and doing big deals.
The bank might regret dramatic changes that rivals were making, like exiting certain trading businesses, they said.
That insistence in the face of slouching revenue rankled investors who felt management wasn't doing enough to respond to market changes that might be permanent.
http://www.businessinsider.com/r-goldman-executives-take-victory-lap-in-debate-over-business-model-2015-6
