Morgan Stanley no longer the closest rival to GS?

First off my apologies if you guys think this is a stupid/pointless topic, but I am admittedly one of those college kids that have a hard on for GS and MS.

For those who are on the street, is the perception now that other banks like JPM or even Barclays are coming closer to GS, than MS? Do the traders here think that their ordinary perfomance in fixed income trading is temporary? Its kind of odd reading articles that are saying, "The firm needs to decide whether it is an institutional securities dog with a retail brokerage tail or a retail brokerage dog with an institutional securities tail." ->

http://www.euromoney.com/Article/2266328/CurrentI…

wtf, I can't imagine MS even thinking of transforming itself as a mainly retail focused bank?

By simply looking at the stock price of course, GS has risen a significant amount in the last 3 months or so while MS has been more or less lingering around the same level.

 
Best Response

My apologies if this sounds ignorant, but as someone who is not from the US, it seems to me like Wall Street is dominated by the American banks only - GS, MS, JPM, BOA-ML. Do the European banks not get much of a mention over there or? Whereabouts do the likes of CS, DB, UBS stand?

 

GS (along with JPM, Barclays) took better and larger positions in credit. Spreads had absolutely blown through the ceiling, and these firms took advantage of it by buying cash. They were rewarded.

Morgan Stanley did not do this and now their fixed income group is being shown the door.

In terms of trading, GS, JPM, Barclays, DB, and CS are really leading the way. Citi has blown up. UBS looks like it won't even have sales and trading in a year. BOA might have a chance to get off the mat.

 

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