David Easthope
David Easthope
cyclical economy markets morgan profits reaching reliance risk stanley trading
You look at Morgan Stanley and its peers, you see a lot of reliance on their proprietary trading desks and a willingness to take on more risk. If the markets are reaching a cyclical peak, which I think they are, profits are at risk when the economy slows down.
affect best call cycle definitely events exchanges feed investor sure technology
These events are definitely a wake-up call for the exchanges to make sure their technology is the best it can be. These kind of things can really feed a cycle that can affect investor confidence.
acting becomes elsewhere execute focus funds orders prop seeing street wall
Already, you're seeing some of these prop desks acting as if they were a hedge fund. And the hedge funds will go elsewhere to execute orders if that becomes the focus for the Wall Street firms.
Consolidation has been the rule, not the exception.