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.
when i was recruiting, I still felt that GS and MS kids got great opportunities and got a "pass" for interviews - it comes from having a big alum base.
that being said, i think the credit crisis in general has taken a lot of the "firm mystique" out of GS and/or MS and investment banking in general.
I agree with aranaxon. Many people are finally starting to realize these firms a not necessarily all that they are cracked up to be.
JPM did significantly better than MS over the past year, but they sucked (in comparison) during recruiting.
The alum base is very important.
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?
well ubs is in a similar position as citi is so they dont get much spotlight. and cs is doing quite well from what i understand, and i think most people would chose cs over boa-ml.
As far as IB goes, UBS is awful and DB is pretty shitty as well. However, CS is a respectable firm.
Guess none of the traders come to this section of the forums. Any thoughts on why GS just destroyed MS in terms of trading revenue?
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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