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...And that is [because] everybody doesn’t really know what their cost of financing is,” Gorman told the FT....
...“It wasn’t properly flagged. The survey looked like one of these government box-ticking exercises, so we ignored it....
...Trevor Milton might be waiting to start a four-year prison sentence for defrauding investors (after his smol bean legal defence oddly failed) but that hasn’t stopped him from plotting his next move....
...And executives certainly aren’t allowed to lie to retail investors, even if they aren’t doing it with a “sinister motive” as Milton’s lawyers argue: He did not create phony documents, lie to his accountants...
...“They don’t move, they don’t go to sleep, they don’t hide like they would at the zoo,” he explains....
...It’s a hard-hitting piece: Mark says he had been living in a room in a shared house for £67 a week but “got chucked out when the landlord said he didn’t want housing benefit people any more”....
...Further reading— Trevor Milton’s smol bean legal defence...
...“We’re not quite Deadpool yet,” admits Milton. But this amateur status was part of the appeal. “They were so grassroots when they first spoke to us, they didn’t even have a pitch,” he says....
...Morgan Stanley will also be relieved that the probe doesn’t implicate anyone beyond the two syndicate guys....
...But banking the money isn’t proving straightforward, Bloomberg reports. The battle for Middle England John Lewis and M&S are courting the same middle-class customers....
...“You can see quite a meaningful churn of clients if they’re saying, ‘let us sell you more things or we can’t bank you any more’.”...
...I haven’t done that. He should get more respect than he does.”...
...tried John, but there weren’t enough syllables for the melody....
...Further reading— Trevor Milton’s smol bean legal defence— Don’t worry, it was just a “scam”— When will the beef cycle bottom? — We need to talk about the CFTC...
...“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?...
...Shelley’s creature becomes human by reading Milton; Bruce’s by learning to dance. Exhausted, the pair fall asleep, simply holding hands — “Friend!” as Karloff might have put it....
...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....
...“We’re in a period where we’re going to see very serious distress in our industry for companies that didn’t leverage prudently,” Malone said in a November interview with CNBC, pointing to Altice in particular...
...Instead, 2023’s kingpin was Morgan Wallen’s One Thing At A Time, which sold the equivalent of 5.4mn albums, making it the biggest album in eight years....
...The grants won’t fully vest until 2027. Morgan Stanley on Wednesday said Pick will replace James Gorman, who had led the firm since 2009....
...So even if WFH can’t be undone it’s probably more than in the price for UK Reits, says Morgan Stanley....
...Market history tells us that isn’t so....
...Morgan Stanley maintains that it didn’t know who was behind the trades when it made the margin call. Ashley alleges the bank’s motivation for the move was simple: it doesn’t like him....
...Milton Friedman’s favourite free market has been shackled by the deadweight of autocracy. Second, the China factor....
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