What to Watch for in Goldman and Morgan Stanley Earnings

The transcript discusses the differences in focus between Goldman Sachs, Morgan Stanley, and other major banks like JP Morgan, Bank of America, and Citigroup. It highlights how Goldman and Morgan Stanley are more geared towards capital markets, while the others rely more on consumer lending. The performance of trading and investment banking is analyzed, noting that Goldman and Morgan Stanley might benefit if they exceed trading expectations. The outlook for Goldman is vague, with low expectations. The transcript also covers Goldman's venture into consumer lending with the Marcus platform, aiming for growth despite the late credit cycle.

Which banks are more focused on capital markets rather than consumer lending?

• JP Morgan and Bank of America

• Goldman Sachs and Morgan Stanley

• JP Morgan and Citigroup

• Bank of America and Citigroup

What was the performance trend for Goldman Sachs and Morgan Stanley in investment banking?

• Better than expected

• Worse than expected

• In line with expectations

• No significant change

How does Goldman Sachs approach providing forecasts compared to other banks?

• They are vague and do not follow commercial banks

• They provide detailed forecasts

• They follow the same approach as JP Morgan

• They provide forecasts only annually

What is the name of Goldman Sachs' online lending platform?

• Marcus

• Alpha

• Sigma

• Delta

What is Goldman Sachs' strategy regarding the credit cycle and their consumer lending operations?

• They are reducing their consumer lending operations

• They are aggressively growing despite the late credit cycle

• They are exiting the consumer lending market

• They are maintaining their current level of operations