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Charlie Gasparino's Body Language Model Proves Accurate: MS Earnings

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Morgan Stanley ended up doing alright for itself in the third quarter, just as Gorman's posture suggested it would.

The securities firm swung to a third-quarter profit, bolstered by gains in wealth management and equity trading. And for the first time in two years, its quarterly revenue surpassed longtime Wall Street rival Goldman Sachs Group Inc.

The results may help vindicate James Gorman, Morgan Stanley's chief executive, for the path he has led the New York-based firm down since the financial crisis. In contrast to Goldman, Morgan Stanley has pushed aggressively into the wealth management business, while toning down the risk of its trading divisions….

Morgan Stanley's revenue of $7.9 billion exceeded Goldman's quarterly revenue by more than a $1 billion, the first time that has happened since 2011….

Morgan Stanley's results underscored efforts by Mr. Gorman to transform the New York investment bank into a firm that takes fewer risks and delivers more consistent profits. Indeed, a major reason Morgan Stanley outperformed Goldman this quarter is because its fixed income unit is smaller, so the industrywide slump during the quarter delivered less pain to Morgan Stanley.

Morgan Stanley Swings to Profit on Strong Wealth Management Results [WSJ]


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Charlie Gasparino Reminds James Gorman He Is Public Enemy Number One On Wall Street, Will Break Your Knee Caps To Make A Point

Gasparino: Let's get something straight right off that bat-- 6 months ago, someone at your firm wanted to kill don't want to kill me, correct? Gorman: Charlie...I don't wan to kill you...I don't think they did either. Gasparino: I don't blame them if they did..given my reputation with PR people. So thank you for coming here, checking your guns at the door. Watch the latest video at Charlie Gasparino with Morgan Stanley CEO James Gorman [FBN]

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Morgan Stanley’s Still No. 1 In Trading So Could You Stop Harping On How Much Closer To No. 2 It Is Now?

No, James Gorman isn’t any more interested in hearing about how great retail banks are doing, either, thank you.

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Paranoia Pays Off For James Gorman

Morgan Stanley paid $124 million to make people go away and still set profit records.

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Running The Most Successful Bank On Wall Street Apparently Too Hard

So Jim Gorman wants to turn Morgan Stanley into Schwab.