Not only is Morgan Stanley gaining FICC market share, dominating tech IPOs, and not laying off scads of people, but its CEO thinks it’s a buy:
James Gorman, chief executive officer of Morgan Stanley, purchased $2.06 million of stock in the firm as the shares touched their lowest level since March 2009.
Gorman bought 100,000 shares today at a weighted average price of $20.62, according to a filing with the U.S. Securities and Exchange Commission. The stock tumbled $1.32 on the New York Stock Exchange, or 6.3 percent, giving Gorman a $92,000 one-day loss on the transaction.
