How James Gorman Diversified Business at Morgan Stanley

The video discusses the transformation of Morgan Stanley under James Gorman, highlighting its shift from a reliance on trading and investment banking to a more diversified model including wealth management and asset management. It contrasts this with Goldman Sachs' failed attempt to diversify into consumer banking. The video also compares the revenue models of JP Morgan and Morgan Stanley, noting the latter's increased diversification since 2009.

What does the term 'consistency of cash flow' imply in the context of financial management?

In what ways is Morgan Stanley's revenue model less diversified than JP Morgan's?