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Street Smart
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Platinum
Re: Morgan Stanley
Street Smart   5/23/2012 7:42:31 AM
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@Scott, it was F. Scott Fitzgerald who famously said, "There are no second acts in American life," but he was dead wrong about Henry Blodget.  I knew about his successful blogging career, but I also know that he was barred for life from the securities industry for his subterfuge at Merrill Lynch.

All things considered he has made lemonade out of lemons and I applaud that.  If--as a former insider--he can help shine a light on the places where the Chinese Wall is crumbling, that is penance enough for me. 

Scott Raynovich
User Rank
Blogger
Re: Morgan Stanley
Scott Raynovich   5/22/2012 10:28:41 PM
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Funny you mentione Henry Blodget... because he is now in fact the successful publisher of a big blog/aggregation site... where he writes critically about the activities of Wall Street analysts.

http://www.businessinsider.com/exclusive-heres-the-inside-story-of-what-happened-on-the-facebook-ipo-2012-5

Rod Raynovich
User Rank
Blogger
Re: Morgan Stanley
Rod Raynovich   5/22/2012 5:43:52 PM
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And the professional Smith-Barney retail brokers have to put up with this crap.

Street Smart
User Rank
Platinum
Re: Morgan Stanley
Street Smart   5/22/2012 5:41:24 PM
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@Rod Raynovich, you are SO right about it being amateur hour at Morgan Stanley as far as bringing the IPO to market.  But I really would not have figured that anyone in his right mind would be looking to follow Henry Blodget's career path.

I'm really speechless!

Rod Raynovich
User Rank
Blogger
Re: Morgan Stanley
Rod Raynovich   5/22/2012 5:26:50 PM
NO RATINGS
It get worse. Throw in a SEC investigation, the confusion in trading, Galvin (MA) subpoena, the leak of the analyst rerport, then  you have a shareholder lawsuit and $800/hr security lawyers get hired, management gets sidetracked etc etc. Do the banks have to make up the $8 loss from IPO price?

Whomever ran this book at MS was a rank amateur.

Massachusetts subpoenas Morgan Stanley for Facebook | Reuters

Street Smart
User Rank
Platinum
Morgan Stanley
Street Smart   5/22/2012 5:19:18 PM
NO RATINGS
Morgan Stanley has achieved the near impossible:  They've made Goldman Sachs look good!

AskAsa
User Rank
Platinum
coverage
AskAsa   5/22/2012 4:53:59 PM
NO RATINGS
The coverage leading up to the event seemed to be way out of proportion. Even people I know who never follow the market were drawn in by the hype.

TelecomFreq
User Rank
Platinum
Re: Stay Away
TelecomFreq   5/22/2012 2:14:18 PM
NO RATINGS
Whoever forward projected that revenue had some very rose colored glasses on.....

tokyogai
User Rank
Platinum
Re: Stay Away
tokyogai   5/22/2012 1:21:02 PM
NO RATINGS
I agree- but the IPO was based on forward projections of revenue and profits, so they need to really grow. The headwinds create the problem.

Scott Raynovich
User Rank
Blogger
Re: Stay Away
Scott Raynovich   5/22/2012 1:05:35 PM
NO RATINGS
@tokyogai,

The issue isn't generating revenues and profits -- they are already doing that -- the issue is sustaining the growth rate.

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