Morgan Stanley Joins The Writedown Partay

Posted by Bess Levin, Nov 06, 2007, 12:57pm

Doesn’t it feel like we haven’t heard from Morgan Stanley in decades, besides the cryptic messages an analyst from the power and utilities group leaves on Carney’s voicemails every now and then that are mostly just heavy breathing punctuated by moments of epileptic crying? It’s probably because the securities firm hasn’t been screwing things up nearly as badly as everyone else. Luckily, that tide is turning. Mo’ Stan may write down $6 billion due some bad luck with mortgages, etc, and Fox-Pitt Kelton Cochran Caronia Waller analyst David Trone, the poor man’s Meredith Whitney, has cut his recommendation from ``in line'' from ``outperform.'' It’s not as impressive as the work Merrill Lynch and Citigroup have been doing, and John Mack can probably forget about being fired, but it’s something.

Morgan Stanley Writedowns May Reach $6 Billion, Fox-Pitt Says [Bloomberg]

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Comments

Posted by series7.5, Nov 06, 2007 2:34PM

Haha wow "the poor man's Meredith Whitney" ??

Not really fair to Trone, I used to work with him before I moved to the buy-side he is a very smart analyst.

Posted by , Nov 06, 2007 3:00PM

no and fox-pitt is a great firm

Posted by series7.5, Nov 06, 2007 3:15PM

fox-pitt has some good analysts. trone, roger smith for asset managers. howard shapiro is okay too he is definitely an acquired taste however i would say he has some different perspective among sell-siders having spent fours years as an investor at federated

Posted by , Nov 06, 2007 3:18PM

in terms of looks, trone is DEFINITELY the poor man's Meredith Whitney.

Posted by , Nov 06, 2007 4:50PM

http://www.rgemonitor.com/blog/roubini/224871

Posted by anonymous, Nov 06, 2007 4:52PM

http://www.rgemonitor.com/blog/roubini/224871

Posted by , Nov 06, 2007 5:11PM

c'mon, how can you not like a firm with 6 names to it.

plus doesnt JC flowers own half of it (CCW pre-merger), they should add his name to it and go for the lonest name ever...
FPKCCWF - even abbrviated it's long...

Posted by , Nov 06, 2007 5:47PM

i thought Flowers owned half of FPK - he backed the mgmt buyout from swiss re

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