Morgan Stanley Posts Record Profit on Second-Quarter Trading Boom

The transcript discusses an extraordinary financial report focusing on return on equity, highlighting a 15.7% return on tangible equities. It mentions Morgan Stanley's cost-saving measures and compares their performance with Goldman Sachs. The discussion includes equity sales and trading revenue, emphasizing the challenges of making estimates in the current market environment.

What was the reported return on tangible equity in the extraordinary financial report?

• 10.5%

• 18.9%

• 15.7%

• 12.3%

What humorous comparison is made regarding Morgan Stanley's cost-saving measures?

• They reduced office supplies.

• They avoided buying expensive coffee.

• They skipped holiday bonuses.

• They didn't attend Yankees games.

What was the equity sales and trading revenue reported for the second quarter?

• 1.5 billion

• 2.62 billion

• 3.1 billion

• 2.27 billion

How did Morgan Stanley's return on equity compare to its long-term goals?

• It was not mentioned.

• It exceeded their goals.

• It was in line with their goals.

• It was below their goals.

What was the return on equity reported by Goldman Sachs the day before?

• 9%

• 11%

• 13%

• 15%