UBS' Hawken on Morgan Stanley Earnings

The video discusses Morgan Stanley's performance in a challenging Q1 environment, highlighting its ability to meet revenue expectations and maintain expense discipline. The discussion draws parallels with 2016 market conditions, noting improvements in IPO markets and trading activities. The preference for Morgan Stanley over Goldman Sachs is emphasized due to its attractive business mix and strategic positioning.

What were the key points discussed regarding Morgan Stanley's performance in Q1?

What is the speaker's opinion on the expense discipline mentioned during the call?

How does the speaker compare the current market environment to that of early 2016?

Which company does the speaker prefer between Morgan Stanley and Goldman Sachs, and why?

What outlook does the speaker provide for wealth management earnings?