Guy Moszkowski Quotes

Warburg has been taken by surprise by the strength of Morgan Stanley, Merrill and Goldman in M&A underwriting in Europe. - Guy Moszkowski

Unlike in the past, it can't acquire its way out of the growth slowdown. - Guy Moszkowski

Trends look very strong for fixed income, with investment grade issuance up strongly and high yield issuance levels performing well. Equity underwriting has been more mixed in the first quarter, but remains very strong, especially in the U.S., and backlogs have been building. - Guy Moszkowski

To think they're immune would be very imprudent, and I'm sure they'd be the first to agree with me on that. But from everything I can infer, the second quarter is starting out just as strong as the first, and they manage their risk very well. Earnings growth could contract quite a bit if things get bad, but they're well protected from severe loss in most any market environment. - Guy Moszkowski

They really have built a very impressive investment-banking capability. They won't always be No.1, but they clearly have been effective in merging their investment and commercial banks. - Guy Moszkowski

They are getting one of the prime companies in both [Nasdaq market marking and securities clearing] for a multiple that we estimate at not more than 14 times earnings, so we think this is a very good deal for them. - Guy Moszkowski

The U.S. origination business may be slowing while it is growing in other markets. - Guy Moszkowski

The recent moves to eliminate the worst-performing 10 percent of brokers and rein in the training program are a good start to improving margins. But these are just the first steps. - Guy Moszkowski

The miss appears to be weakness in the trading portion of the Investment Bank unit, a frequent culprit due to its excessive volatility versus peers. - Guy Moszkowski

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