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 surprising about the estimates for the big names reporting?

How did Morgan Stanley's return on equity compare to Goldman's?