The news spread all over the world this morning about world wide recession in what is already a fragile investing enviroment is wreckless irresponsible and in my opinion criminal... I suspect that there is a lot of inside short selling.... If this is discovered to be true ,, Morgan Stanley should be forced to compensate shareholders for damages done to their financial portfolios.. Perhaps even be put out of business.
I closed out my account with MS due to inordinate commission rates. The manager and two brokers left for the very same reason. They are losing clients everyday. I transfered my IRA and personal accounts to another financial institution which has realized me great savings on commissions and no more management fees. I encourage others to do the same. Top add insult to injury they charged me fees to close out and transfer my accounts. Expect this stock to drop even lower. Good luch to all who maintain accounts with MS.
Investment Banking revenues were $1.5 billion – the highest second-quarter revenues since 2007 – reflecting an increase in both advisory and underwriting market volume from a year ago. The Firm ranked #1 in global completed M&A, #2 in global announced M&A, #2 in global IPOs and #4 in global Equity, 5 and arranged virtually all the major technology IPOs of the quarter. 2 Equity sales and trading net revenues were $1.9 billion – the highest since 2008 – and reflected market share gains. Fixed income and commodities net revenues were $2.1 billion reflecting a solid performance in challenging markets. Global Wealth Management Group delivered net revenues of $3.5 billion, with client assets of $1.7 trillion and 17,638 global representatives. Net new assets for the quarter were $2.9 billion with net flows in feebased accounts of $9.7 billion. Net revenues and annualized revenue per global representative were the highest since the inception of the Morgan Stanley Smith Barney joint venture (MSSB). Asset Management reported net revenues of $645 million and positive net flows of $15.7 billion. Morgan Stanley and Huaxin Securities Co. Ltd. launched their previously announced joint venture, Morgan Stanley Huaxin Securities, expanding the Firm’s foothold in China.