Tag: AUM

Square Makes More Sense for Morgan Stanley

Square Makes More Sense for Morgan Stanley

It is difficult to get excited about Morgan Stanley's recently announced acquisition of ETrade. The latter is essentially a no growth business (P&L below), competing in a cut-throat market. On the other hand, Square - albeit a larger company that would command a larger price - is a FinTech leader in growing consumer markets. If … Continue reading Square Makes More Sense for Morgan Stanley

The Road Less Traveled: Opportunity Cost and Shareholder Activism<span class="badge-status" style="background:red">Premium</span> 

The Road Less Traveled: Opportunity Cost and Shareholder ActivismPremium 

Opportunity Cost for Active Managers Is High Institutional investors typically contemplate opportunity cost within the context of portfolio returns, individual stock returns and┬áROIC. What however is the opportunity cost associated with pursuing a broken business model versus correcting course?┬áThe capital markets are filled with smart people and smart machines. It is more difficult than ever … Continue reading The Road Less Traveled: Opportunity Cost and Shareholder ActivismPremium