The firm run by David Solomon reported fourth quarter earnings on Tuesday, and they were up 13% for the year, where rivals like JP Morgan, Citigroup and Wells Fargo that all reported the previous week saw profits slump.

這家由大衛-所羅門經營的公司週二公佈了第四季度財報，而且全年增長了13%，而前一週公佈的摩根大通、花旗集團和富國銀行等競爭對手的利潤都出現了下滑。

Why?

為什麼？

Well, it's because Goldman is driven mostly by stock and bond trading revenue.

嗯，這是因為高盛主要是由股票和債券交易收入驅動的。

On one of the financial side effects of covert 19 was big swings in the market that benefited companies that trade securities.

在隱蔽19的金融副作用之一是市場的大波動，使證券交易公司受益。

Goldman makes well over half of its revenue from markets, are also advising on deals on underwriting stock and bond issues, all of which group pretty strongly in 2020.

高盛一半以上的收入來自於市場，還在為股票和債券發行承銷的交易提供建議，2020年，所有這些集團都相當強勁。

And if it hadn't been for a gigantic fine that Goldman paid over its role in a global bribery scandal in Malaysia, it would have had the best return on equity since 2000 and nine.

而如果不是高盛因為在馬來西亞全球賄賂醜聞中的角色而支付了鉅額罰款，它的股本回報率將是2000年以來最好的，九。

One thing that really sets Goldman apart is that while it's theoretically a bank, it doesn't do much actual banking in the way that you and I would think about it.

高盛真正與眾不同的一點是，雖然理論上它是一家銀行，但它並沒有像你我所想的那樣做太多實際的銀行業務。

Interest on making loans only makes around $1 of every 10 that Goldman brings in.

每10個高盛帶來的貸款中，做貸款的利息只賺1元左右。

Where is it big lenders like J.

哪裡是大貸公司，如J。

P.

P.

Morgan and Bank of America?

摩根和美國銀行？

That's closer to $5 for every turn.

每轉一圈就接近5塊錢。

Right now, that's a bit of a burden because customers don't want to borrow and interest rates are going down.

現在，這有點負擔，因為客戶不想貸款，利率也在下降。

So some of all this, meanwhile, is just lucky timing.

所以，這一切的一切，有的只是幸運的時機。

David Solomon actively wants to see Goldman over time, get deeper into retail banking on In the past, Goldman has even set out to reduce its reliance on trading revenue because it's so choppy.

大衛-所羅門積極希望看到高盛隨著時間的推移，深入零售銀行業務，在過去，高盛甚至已經著手減少對交易收入的依賴，因為它是如此的波瀾不驚。

But for now, Goldman looks pretty much fine just the way it is.

但目前來看，高盛的現狀還算不錯。