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A Clear Sign This Market Is Set to Triple
In 2003, Morgan Stanley closed its Asian Equity Fund.
When Asia was a popular investment in the mid-1990s, this fund managed over $350 million. But by 2003, the Asian stock markets had fallen in half. The public didn’t care about Asia. Morgan Stanley’s fund had shrunk to less than $10 million in assets. The management fees couldn’t cover the costs, so Morgan Stanley made a business decision and closed the fund.
Between 2003 and 2007, Asian markets soared. Hong Kong’s stock market tripled, for example. Singapore’s market tripled. Korea’s market quadrupled.
In 2000, Morgan Stanley’s investment management business "heavily" promoted aggressive technology funds.…
11Mar2009 | Stansberry and Associates | 0 comments | ContinuedJapan’s Mitsubishi UFJ Takes 21% Stake in Morgan Stanley as Spain’s Santander Moves on Sovereign
Morgan Stanley (MS) announced yesterday (Monday) that it closed its long-awaited deal with Mitsubishi UFJ Financial Group (ADR: MTU), giving Japan’s largest financial group a 21% stake in the beleaguered U.S. investment bank.
Meanwhile, Sovereign Bancorp Inc. (SOV) confirmed last night that it has agreed to be bought out by Spain’s Banco Santander SA (ADR: STD) with regards to a possible buyout.
Mitsubishi UFJ first announced its intention to acquire a stake in Morgan Stanley on Sept. 22, but shares of the investment bank fell 60% last week as credit market turmoil and investor panic gripped the markets, putting the deal in…
14Oct2008 | Money Morning | Comments Off | ContinuedAs the Credit Crisis Deepens, There Are Still Many More Questions Than Answers
Is there any end in sight? Will the G7 provide strong actions (or statements of confidence) to support the global markets? Are these efforts by the world’s central banks helping or simply scaring investors? Should more regulatory actions be taken? Should exchanges suspend trading temporarily (as some suggest) until calmer heads prevail?
With Lehman Brothers Holdings Inc. (OTC: LEHMQ) gone, investor worry shifted to Morgan Stanley (MS) and Goldman Sachs Group Inc. (GS) and both stocks plunged accordingly. While Japan’s Mitsubishi UFJ Financial Group Inc. (ADR: MTU) still claimed to be moving forward with a deal that would bring Morgan a badly needed $9 billion capital infusion,…
13Oct2008 | Money Morning | Comments Off | ContinuedAfter Reloading With Wachovia’s Banking Business, Citigroup Takes a New Aim at the U.S. Banking Market
Citigroup Inc. (C) will acquire Wachovia Corp.’s (WB) banking operations for $2.l6 billion, a deal that will restore Citi’s title as the biggest U.S. bank by assets while transforming the once-highly regarded Wachovia into an investment-management operation.
In becoming the latest big U.S. bank to bolster its assets by rummaging through the remains of a nearly defunct financial institution, Citi agreed to buy Wachovia’s banking operations for $1 per share. The deal gives Citi a strong retail-banking network – adding 3,300 branches and offices in 21 states – as well as $2.2 billion in deposits; but the bargain also brings City…
30Sep2008 | Money Morning | Comments Off | ContinuedGoldman Sachs, Morgan Stanley Seek Fresh Start as Holding Companies
Goldman Sachs Group Inc. (GS) and Morgan Stanley (MS), Wall Street’s last remaining investment banks, are converting to holding companies now that the collapse of The Bear Stearns Cos. Inc. and Lehman Bros. Holdings Inc. (OTC: LEHMQ) have drained clients and investors of any remaining confidence in the companies’ business models.
Both Goldman and Morgan received approval for the transition from the U.S. Federal Reserve Sunday night. The two companies can now offer Federal Deposit Insurance Corp. deposit insurance and gain access to cheaper more stable sources of funding via the Federal Reserve Bank Discount Window and customer deposits.
The trade…
23Sep2008 | Money Morning | Comments Off | ContinuedThe Government’s Financial Crisis Fix-it Plan Sends Stocks Soaring, Though Some Argue There’s no Quick Fix for this Disaster
U.S. stocks rallied the most in six years yesterday (Thursday) – with traders actually cheering the ticker action from the floor of the New York Stock Exchange – on the news that the federal government is taking steps to shore up the unraveling U.S. financial system and end the global credit crisis.
After two straight days of sharp selling, U.S. stocks whipsawed their way to major gains yesterday on investor hopes that federal government moves will halt a global credit crisis so severe that some leading market experts are talking about a depression-like downturn. The blue-chip Dow Jones Industrial Average jumped…
19Sep2008 | Money Morning | Comments Off | Continued
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