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...“I don’t think [over] the next decade the gap will be as large. I think there’s opportunities for the Europeans, but it was certainly a miss for much of the last decade,” he added....
...“They don’t move, they don’t go to sleep, they don’t hide like they would at the zoo,” he explains....
...“It’s not about exiting bad people, it’s about exiting good people who don’t pay you enough or who use too much balance sheet,” he said....
...“I don’t think I would be safe to take judicial knowledge,” he said, referring to evidence that is assumed to be true. “I ought to at least know exactly what it is.”...
...This chart from JP Morgan Asset Management isn’t exactly titled BTFD, but it does remind us that when the S&P 500 has just lost a cool quarter in value, the most successful thing to do has usually been to...
...“More people can now dial back the ‘risk-on’ strategy and sit in cash, which Morgan Stanley and others just don’t earn the fees on.”...
...In the interview, Morgan said: “I’ll bet you £1,000 to a refugee charity, you don’t get anybody on those planes before the election. Will you take that bet?...
...But as our first story today highlights, a divide is emerging between companies that get their carbon reports audited and those that don’t....
...But do you ever have moments, Morgan, when you feel more uncertain or worried about finances? Morgan Housel I don’t know if I would say worried, but the word I think would be humble....
...But employees either don’t believe them, or don’t care: And unsurprisingly, across all geographies, it’s the wealthy and the young who are rejecting office life ... . . . though the boomers are just as...
...I just don’t know what the election is going to look like, I don’t know what the market’s going to look like — I want to avoid that volatility.’”...
...“We don’t do military, police . . . right now there’s only emergency services . . . usually the civil-military [programme] will not consider any company with foreign financing,” he said....
...Another well-run company, ceramics specialist Morgan Advanced Materials, closed a lot of its facilities during Covid....
...Often the company themselves don’t have records and these are the only people who actually remember it. You also need that network to establish who you’re buying from and what their track record is.”...
...The DoJ is accusing Apple of violating the Sherman Act by purposefully making it difficult for users to shift out of their digital ecosystem, or for content and app creators that don’t follow their terms...
...Women with the chops to make it to senior management in banking are also in demand in other industries, so they don’t have to sit around and wait their turn for a shot at the top on Wall Street....
...Still, I don’t see the title inflation problem disappearing soon....
...I don’t know. Robert Shrimsley sets out the arguments for and against well in his column and I don’t have very much to add to that....
...Likewise, AI developers don’t now have to own the copyright to content on which the models are trained....
...Commercial banks that don’t want to shrink will need to substitute their lost deposit funding....
...I said this to the staff of the SEC and to Gensler, which is you think that Schwab, Fidelity, Vanguard, Morgan Stanley, E-TRADE, they need to be told where to send their retail orders, like they don’t have...
...Investors love wealth management earnings — they don’t require so much regulatory capital and they don’t generate big losses, they just offer nice smooth, stable growth (with notably rare exceptions)....
...Morgan Stanley’s recently departed CEO James Gorman said last year that employees “don’t get to choose their compensation, they don’t get to choose their promotion, they don’t get to choose to stay home...
...Non-competes for, say, bartenders or security guards don’t really make a lot of sense....
...Financial investors are not yet warming to this logic, showing their weakest demand for European carbon credits since early 2019, according to Morgan Stanley....
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