Goldman/Mitsubishi Chest thumper

Goldman Sachs’ sale of $1.2bn block of Mitsubishi Motors shares gives the lie to the notion that block trades are only for blockheads. The US investment bank made a handsome profit of about $80m in a single day from buying the shares from DaimlerChrysler and selling them on to investors, according to the FT. Normally, the block business has seemed madness, justifiable only on the dubious notion that handling big trades puts the bank at the top of the league tables. This has tempted banks to out...