(Bloomberg) — Goldman Sachs Group Inc. has Wall Street’s biggest investment portfolio, a boast that became a liability in the first quarter as fallout from the coronavirus weighed on the firm’s holdings.The business took an almost $900 million hit that contributed to a 46% decline in profit, even as it included gains from pending private-equity sales. A strong showing in the trading operations, the firm’s biggest division, helped counter the damage as market volatility boosted demand for trading services.Goldman’s large investing operation has helped drive some of its most profitable quarters. But it also leaves the firm more exposed to …read more
Source:: Yahoo Finance
