It was in my capacity of editor of Global Trading that I wrote my best scoop this year, the $687 million trading loss experienced by Goldman Sachs in the third quarter of 2024. No other news organisation was able to report this story, which was uncovered using analysis of Federal Reserve filings. Risky Finance subscribers will be familiar with this kind of analysis, and it shows how much can be gleaned from VaR, which may still get a reprieve if the Fed’s Endgame proposals are watered down further. An interactive visualisation showing the data used in the Global Trading article is provided below.