David Trone
David Trone
billions close dollars earned last negative reasonable record several track trading
Its track record is outstanding, they've earned tens of billions of dollars over the last several years and they've never come close to having a negative trading line. I'd say that's reasonable risk-reward.
assets discover improve improved last needs value
It's in last place with no real assets to improve their position. Discover desperately needs to have an improved value proposition for the cardholders. That's where it all begins.
negative product results strength third
On a year-over-year basis, Lehman's results are outstanding, while the negative sequential comparisons are a product of the strength of the 2005 third quarter.
although asset banks consumer expensive finance given likely management
Asset management acquisitions are safer, in our view, given the predictability of earnings, although they will likely be more expensive than banks or consumer finance companies.
global guys half outside profits wherever
These guys are global companies. Goldman has half its revenues come from outside the U.S.. They can find profits wherever they need to.
assume double firm likely revenue
It's not likely a firm would double its revenue in a sequential comparison. One should assume that some of that's proprietary trading.
believe businesses compared core higher improvement income investment previous quarter reflecting sensitive slightly wealth
We believe core income should be slightly higher in the first quarter compared to the previous quarter, excluding one-time charges, reflecting improvement in capital-markets sensitive businesses (trading, investment banking, and wealth management).