2007-12-14 — reuters.com
Goldman Sachs Group Inc's bet that securities backed by risky home loans would fall in value brought nearly $4 billion of profits in the year ended November 30, the Wall Street Journal reported on its Web site on Thursday, citing people familiar with its finances.
The gains erased $1.5 billion to $2 billion of mortgage-related losses elsewhere at the firm, according to the Wall Street Journal.
So they came out $500 million ahead--this time. Looks like a pretty close call. Are they hedged enough for the next round of write-downs?
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