Seeking Alpha

Gorman: Zero chance of another crisis

  • "The probability of it happening again in our lifetime is as close to zero as I could imagine," Morgan Stanley (MS +0.8%) CEO James Gorman tells Charlie Rose in what hopefully won't be added to the list of ill-timed boners from captains of industry.
  • He cites different management at financial firms, higher capital ratios, and changes int he business mix - "it's dramatic." Among Morgan Stanley's own steps is the purchase of Smith Barney from Citigroup in the hope of a steady stream of fee business.
  • "The largest financial institutions in the U.S. are as healthy now as they have ever been."
  • Financial ETFs: XLF, IYF, PFI, VFH, RYF, RWW, FAS, UYG, FAZ, SKF, SEF, IAI, FXO, PSCF, KBWD, KBWB, IYG, FINU, FINZ.
Comments (2)
  • Brian Bobbitt
    , contributor
    Comments (1899) | Send Message
     
    Don't you believe it! Where there's smoke there's fire, and where there's money involved, there's crooks. NEVER in the history of money has there been two people with the others best interests uppermost in their minds as they 'make a deal'. No matter what you are in, you must consider the risks involved, and realize that the best of them can fail. These "trust me" statements are the most feared of all. I always remember the words. 'Methinks thou protestest too much.', said the detective, talking to a witness [and doer] of a bad deed. The fellow was giving reasons why he was innocent when he was not suspect. That led the detective to suspect the perp and got him. I rest my case. WATCH OUT, BEWARE, BE CAREFUL IN THIS SWAMP.
    Capt. Brian
    The Lost Navigator
    6 Sep 2013, 12:36 PM Reply Like
  • Angel Martin
    , contributor
    Comments (1300) | Send Message
     
    It's different this time... we know what we are doing now...

     

    another TBTF bank to short via jump risk, joining my preferred candidates JPM and DB
    7 Sep 2013, 12:28 PM Reply Like
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