Brad Hintz

That’ll teach’em. Read more »

Morgan Stanley, which last year missed an internal trading-revenue target by more than 40 percent, is under pressure to show improvement after a two-year effort to turn around the firm’s fixed-income trading business…Chief Executive Officer James Gorman, 53, is looking to prove to investors this week when results are reported that the firm is advancing toward his goal of boosting market share in fixed-income trading by 2 percentage points. With the stock down 69 percent since 2006 to $21.09 last week, Colm Kelleher and Ken deRegt, both 20-year veterans of the company, aim to succeed at a task that has taken down three senior executives. “I’m absolutely surprised at how slow it has been,” said Brad Hintz, an analyst at Sanford C. Bernstein & Co. who has a “buy” rating on the firm’s shares and is a former Morgan Stanley treasurer. “I’d love to tell you what the trajectory is going to be, but I don’t know how rapidly one can come back…The problem is that clients have long memories. “If you’re no longer the first button on a phone, it takes a long time to become the first button.” [Bloomberg]

  • 10 Jun 2011 at 3:15 PM

Brad Hintz Has An Idea For Morgan Stanley

Morgan Stanley could shut down its trading businesses and the firm would be worth 40 percent more than yesterday’s share price, according to Brad Hintz, a Sanford C. Bernstein & Co. analyst…“We have long argued that absent a liquidity crisis, the mark-to-market balance sheets of Wall Street trading firms support a trough valuation at tangible book value,” Hintz wrote. “This is because at low valuations, an acquirer could simply liquidate the trading balance sheet, pay off the liabilities and walk away with more cash than they paid for the company. Thus, at certain P/TB levels, such as today, a broker is worth more dead than alive.” Hintz said he isn’t endorsing a dismantling of the trading operations. [Bloomberg]

When the Sanford Bernstein analyst closes his eyes, he pictures Lloyd and Co going out of their way to get on Carl Levin’s good side, possibly going so far as to praise his work. Read more »

Brad Hintz, for instance, is so pumped he might very well throw his back out.

Bank of America Merrill Lynch said it upgraded its rating on Goldman Sachs to “buy” in a note to clients following the agreement yesterday. The settlement is “palatable” and the “probability of further action against Goldman Sachs” is much lower, said analysts led by New York-based Guy Moszkowski in the note. “I’m jumping up and down and telling my dad to buy it,” Brad Hintz said of Goldman Sachs’s stock.

Goldman Sachs ‘Victory’ Ushers Change For Wall Street [Bloomberg]


“Shenanigans, Bob. Shenanigans.”

  • 16 Jul 2008 at 9:42 AM

Brad Hintz Doesn’t Buy Lehman Buyout Rumors

Sanford Berstein analyst Brad Hintz dismissed the idea of Lehman management taking the firm private today, noting that it would be way too costly. “We are skeptical that this is the path that Lehman Brothers would choose to pursue,” Hintz wrote, unless some sort of $2 a share situation could be worked out, he wink-winked. Journal reporter David Reilly also joined the Lehman Can’t Go Private Pile-On this morning, adding that shareholders shouldn’t hold their breath about a rescue from a bigger bank, though, fishily, Jamie Dimon has been letting it slip to family and friends he likes the sound of Bearpont Brothers.
Lehman management buyout unlikely [Reuters]