40 Burst results for "Morgan Stanley"
Fresh update on "morgan stanley" discussed on Bloomberg Daybreak: Asia
"Right now we have the opportunity. Dare I say the imperative to strengthen infrastructure in our cities and create good? Union jobs. Yeah, she says, part of the money and it's in the relief bill. Now that's in the Senate being passed by the House, one that is not getting rave. Your views in the Senate for Minority leader Mitch McConnell Democrats were chosen to go completely. Partisan route and New York Governor Andrew Cuomo's administration has retained a prominent criminal defense attorney to represent his office over allegations that governor covered up covert 19 deaths in nursing homes in San Francisco. I'm Ed Baxter, this is Bloomberg. Brian Thank you eight minutes here past the hour. Let's say good morning to Gavin Parry, managing director at Perry Global Group. So, Gavin, we had a pretty big scare over the past couple of weeks, with bond yields shooting higher. We had some different approaches from central banks, The Arba and also the be OK, just got right in there and started buying. Along the longer into the curve, the Fed decided just to sort of job own it. In any case, market's equity markets have responded. Would investors be wise to buy this one? Or should they still maintain a cautious stance? Look it, have you no heart real years, basically with this now. It's really 22 aspects. You one is obviously high billiards with declining inflation expectations with impact. We could performance for the riskier assets I equities and then hired three years. Driven by seas of these simply bank attractions would also impact at the moment. We don't really see obviously the Fed doing anything in relation to her. Talking for at least 2.5 years and so, and inflation expectations aren't really waiting at the moment. So in that respect, we can consider that real yields will continue to rise. Gradually. Andre just continue to leave the discretion. Reflation trade largely intact for Is not it. Yeah, we were just talking in the last hour to markets reported critical Peter and talking about how you saw the first six months of the year driven by the fangs. And then you started to see as you are saying that more reopening trade coming through to what happens next because we heard from Goldman's Peter Oppenheimer saying, Look, a lot of investors are underestimating how strong this recovery would be. Where would you be putting money to work in 2021? Well, I mean, sitting out here you're in Central Asia experience much to the China story. Also the weekends official payments. You know the strength to you, I think Lawson much but It seems very much in the expansion of smaller small manufacturing payments to extend except the new orders within contraction, and that it's still very much about the consumption of trade in China, but also about the Wanted to market perform again. You're listening credit by area, and there's a lot of other stuff going on at the moment, obviously in Beijing in the city are doing their policy chaps again. And that's really, really see the focus. So two of those two areas Yeah, but Gavin, you know some of the estimates for us growth now coming in from Bloomberg Economics is like 7.5%. J. P. Morgan and Morgan Stanley in the area of 6.5%. I mean, it's quite possible the U. S. Will grow at a faster pace than China this year, and that doesn't happen very often. Not only that, I think you're going to see a lot of truly loves you are sitting on the scene news. You'd fluctuations but also in relation to the growth story is that you think I'm like some embassy. You now have the situation with liquidity is continuing to stew investor allocation towards capital gang from income on by central banks expansions now being joined by physical expansion, so I think they're staying around a trillion us sitting there to be allocated wall of just going through this new single. So if you look, I think us January savings. That is a big increase that then You.
Institutions still underweight on AAPL despite strong 2020 growth
"Institutional ownership of apple. Shares is near an all time high according to morgan stanley analyst. Katie huber d but it is nowhere near enough and harassed mation could be helpful at this point to find out what institutional ownership is according to the site investo pedia institutional ownership is the amount of the company's available stock owned by mutual or pension funds insurance companies investment firms private foundations endowments or other large entities that manage funds on behalf of others. The site goes onto. Explain that once those institutions get into a company. They tend to stay there for a while. Not only this pulling shares out of circulation raise the value of shares outstanding. Their decision to get in can lead other investors to do the same despite being near all time highs institutional ship of apple is still under weight according to a note from hubert to clients posted on apple three not. Oh the way she and hers. Apple is likely to see revenue growth of twenty two percent in fiscal year. Twenty twenty one and earnings per share growth of thirty six percent. That's based on a few numbers. That i wish i understood but i sadly do not
Fresh update on "morgan stanley" discussed on Bloomberg Businessweek
"Bloomberg business out and at Bloomberg Quick Take This is a Bloomberg Business left four PM on Wall Street. There you have it. That's the sound of the closing bell for this Monday, March, 1st. And we had a rally today in U. S equities in spite of a move up in long term interest rates. Clearly the focus was on economic reopening story and faster growth. When you look at the J and J vaccine use that was a big positive. It's now the third treatment approved for use here in the U. S. J and J shares finishing up by more than 7/10 of 1%. Now as a part of the growth story factory index from the I S M posted its highest reading in about three years in the month of February, so We had a pleasant conversation earlier in today exclusively with J. P. Morgan Chase CEO Jamie Diamond Way asked him to walk us through his outlook. You know, there's a very good chance you're gonna have a king buster economy. The rest of this year and easily into 2022. The question is, does that overheat everything We just don't know yet, But I would put that on things to worry about now. I wouldn't worry too much about it. Really more about covert and nuclear war that worry about that. So the growth story seemed to move long term interest rates higher today. 10 YEAR Treasury picking up about four basis points 1 44 at the end of the New York session, and that gave a big boost to a lot of the financials. We had the S and P Financials index higher by more than 3%. Today. Morgan Stanley raised targets for a number of the big banks in terms of the stock prices, but also lifting estimates. KBW Bank index up about 3% on the day as well. We're waiting for the quarterly results from zoom in the regular session, The stock was up nearly 10% Bitcoin higher after evolved all weekend session on the positive side strategist over at Citigroup laid out a case for Bitcoin playing a larger role in global finance. But New York state's attorney general gave a warning about Kryptos being susceptible to Speculative bubbles. Good coin right now. 5 48,020. That's your Bloomberg business Flash. Wow thing. Thank you moving, But I got a few moves. I know you'll like shaking all over Bloomberg. Business week. Movers and shakers shaken, not stuff on Bloomberg Radio. Right. You are listening to Bloomberg business. We kill master alone it instead of picking our interactive brokers studio as Doug mentioned, we are waiting. Zoom earning So soon as they cross the Bloomberg terminal. We will bring them to you. In the meantime, definitely a risk on trade. We've said it a million times We finished just off our highs of the session with those major equity averages. What does that mean? For the S and P 504 165 names? In the S and P 500 higher today. 39 Lower one and change and looking at those major industry groups green across the screen Carol Information technology higher by 3.18% leading the pack Financials hired by 3.1% Energy hired by 2.57%. I got to tell you 100% of stocks in the information technology sector higher on the Bloomberg industry groups, financials 100% as well. Even the worst performer of the day. Real estate still in the green higher but more than 1/10 of 1%, and we'll talk real estate without can't swig. He's coming up a little bit just spent about 25 minutes from now, so everybody has to say about the commercial real estate market. Let's forget our Bloomberg News Cross as that reporter Sarah Ponza, who's been watching The markets since they kicked off earlier this morning. What stands out for you, Sarah? When you were running through the industry groups within the S and P 500 was interesting. Today is the fact that you attacked your best performer at the top. But you also saw financials. Both sectors closing up more than 3%. And lately we haven't seen these two sectors moving in tandem. Rather, it's been financials at the top of the path with energy while text at the bottom of the passive consumer discretionary. Top of the rotation that we've been seeing from growth to value from defense is that you want to take in that back, but in that bucket to cyclicals, But today we really just thought everything move higher together, and I was actually just running the numbers. In the last time we saw detective financials. Both gain more than 3% together was last April 1 what? Of course, we were in the midst of a very, very forceful rally off of the bottom of that ball into a bear market back in March. And it's interesting because today yet you have a bit of a buying the dips sensation where you see it. NASDAQ Stocks test lessened Big tech stocks that were hit hard over the past week or so really come back strong. But at the same time, he still had that typical value rotation play taking hold, too. So that's my big question is, is what's different between last week and this week? Sarah? Why the optimism today for the risk on trade? So we did have the JNJ news over the weekend, but that was expected. Right, right. It was it was expected, but it's nice to hear that it's official at the same time when you look at the bond market today. Yes, we saw yield. And today a little bit higher and us we really didn't see Bonds get too out of control. We saw 10 year yield close around 1 42. We talked about last Thursday and the sell off we saw at that point in time. That was when we saw this. I can yield above 1 60, so we didn't really see an unruly moving yielded. Some might put it. We're seeing a digestion in the bond market, which could then allow the stock market to take the new level of interest rates in stride. We'll see what actually happens from there on but that's something to keep. Keep in mind. Yeah, and we're keeping a watch actually on shares of Zoom video right now Up about 1.3% me after hours company coming out with his fourth quarter adjusted GPS a dollar 22. Beat Thea estimate was for 79 cents a share. So we're talking about 43 cents better than what Wall Street was forecasting fourth quarter revenue 882.5 million versus an estimate of 811 million and they're also talking about the first quarter and they are raising their estimates. Big time first quarter Justin GPS Him. They're looking for 95 to 97. Cents the street looking for 72 cents, And as for the top line first quarter revenue, they are looking for 900 to 905 million..
Interview With Emma Grede
"Emma thank you so much for coming on the show. Welcome to skimmed from the couch. How i thank you so much for having way and mary excited to talk to you about everything that you've done but first let's jump into skimming your resume so my best job was when i was like twelve and i had to pay around and it gave me my best taste of cash. Which was just wonderful pitches stopped working since then. I went through the hosted in my life working in retail. And i had always weighty being about sasha i loved that world i come from place where you know. It was really devoid of any kind of fashion obama. So i found was really gravitating towards you. Know just the beauty and the supermodels and the brands you know. As i was growing up it was all about the saatchi and chanel and families that working in designer stores in and then my first proper job of coming out of college. I studied business at the london college of fashion and went straight into fashion. Show production avow myself in this really all. Its little niche because in london guests there. Was this amazing. You know london fashion week. Where all of these brilliant designers but nobody really had the money to put on this show. So i ended up in this strange donation of sponsorship and kind of creighton bronze collaborations with the great and the good of the british fashion industry. And that's weighty. Where taught my teeth. And i think that when i think about what it is today and where i've found my success it already started in those early days of being a production company and really learning how to bridge the gap between the creative businesses that fashion all and and more commercial bronze. And so. yeah. That was it for me. That's that was the beginning of it when something that people would be surprised to know about you. Oh i mean. I guess he will probably be surprised to know like how much about makeup i am. I guess maybe that's not something that you always associated with. Somebody who's an entrepreneur like my favorite thing to do is cooking and making things nice at the house. I'm an absolute festive fruit. Like the idea that. I get thanksgiving on top of christmas. Now i'm living in america could not be a need better. I'm not get to do that. Twice is at christmas participate so right now. That's all i think about is that. What is my thanksgiving menu table. Go look greg bat. That is my job. Elevate okay so. I love opening up our questions with entrepreneurs like yourself by talking about your childhood because our childhoods shape all of us and informs ultimately who we are in in how we make decisions. I want you to paint a picture for us about how you grew up in how you think that's shaped you. Yeah it's a great question on a great more. I failed so much of may an how i behave. How i treat people have chosen to comes from my childhood and you know i had a reedy great childhood. I grew up for e kind of a poll basically in east london very deprived area. And i say it so blatantly as that is because you know. It wasn't only devoid of glamour. It was completely devoid of opportunities. Everybody in that community had lived there their entire lives and you seemingly could get out of it. It was a huge jack of opportunity. A huge lacquers education and i saw for myself in my mother who really kind of broke through an managed to create something else for. She was a single mother with four children and my mom found herself. You know working in the stock exchange becoming a trader having a job for twenty plus years at morgan stanley. And that for me was you know it was just like a gateway sunday could see that you know you could create with with a lot of hard work and today and if you really did that you get rid of that to pay off then you could really really really change your outlook very very early on i. I really believe that the harder. I what the more likely would be to get myself out of. Why soares a pretty kind of dire situation but of course when you live and you grow up like that doing something you know. I could understand it if you're a doctor lawyer or going into banking fashion just didn't seem like a way out to me and so there are times in my life where i definitely thought. Oh am i on the wrong path which is ultimately why. I went and studied business at the london college fashion. Because i believe that. If i could set that foundation in business and have this specialism fashion that at least it would ground me that if all that fun bit didn't work out. I'd still have the basics of business. And i could go and run construction company. Also something
Fresh update on "morgan stanley" discussed on Financial Issues with Dan Celia
"Question is what happened at 88. F A T F 88. F 88. Going to see which I don't. I don't remember where it is. There were a number of those Well, maybe I'm Did you? You never got the alert to sell that. Well, perhaps I did. Well, I didn't. I didn't show up anywhere. Meaning? Yeah, You know, it's not. It's not on it. There is no F 88 they got bought out by J. P. Morgan. So we weigh. Don't have that on the broad list or any other list for that matter. Well, it's on the broad list right now at 88 80, FC with no quote that all on it. Yeah, well, there isn't a quote because it doesn't exist. They can't pull a quote. Okay, so I didn't sell it. Well, you didn't sell, but you you will own JP Morgan stock. All right. Is that Pops possibly M s. Yes, it is. Okay. I forgive you. That was waiting on hold. Yeah. Yeah. So that's been converted to Morgan Stanley. I sold it because they're not biblical responsible, and I didn't. I didn't want anybody to really have any parts of that so But but that's what you have. Now you have Morgan Stanley Stock. All right. I'll take care of it then. Okay. Alright. Fax, David All right. 16 363 11 10 6 10 363 11 10 If you want to hear your call You are welcome. You do that? Do that 6 10 363. 11 10. Two. Q. You're cops extend 363 11 10. Also let me just See Fine. Get to it. Here you go. So let me just go through this, Casey. Casey is saying. Hi, Dan. Will you please explain what a loaded mutual fund is? I plan to invest for 8 to 10 years. Ah, off a mutual fund with the load is a sales charge. That's the load to cost. It's a sales charge. Um, And that's all it is their two classes. Sometimes they have three classes. Sometimes they have in a sometimes they have a baby and sometimes ever see. Generally, B shares are almost obsolete, so you don't see that as much C shares. Are becoming obsolete when given the choice between an A and A C. I always tell people to get the a share because since you are on a share, because you are paying the cost up front Then the internal cost that are inside them. Every mutual fund are lower. And so the return on the mutual fund is better that in in a share that it might be on a C share. So I don't know if that explains that good, but hopefully you got that. Thank you, Uh, Casey Roberts said Good morning from Mississippi and Mark saying. Good morning. Dan. Do I need to do anything? For taxes on K one. Filing if a stock is in an IRA Um possibly you do. It depends if the stock or the K one is qualified. In other words, sometimes limited partnerships. Don't qualify for the tax break often, IRA And you'd have Tonto find that out. And if you've already received a K one, which I doubt maybe you have. I don't know. I haven't gotten any K ones yet. So, but the use heat, you know, not for another few weeks, but No, no, Wait. What if we don't? We're in February. So you but we may have.
Rad Power Bikes raises massive $150M round to scale e-bike business across globe
"Company is about to grow again Come most manufacturer has more on a major boost to rat power bikes for founder and CEO Mike Radon Bob It's been a wild ride actually started the business in 2007 as a sole proprietorship building. He bikes one at a time by myself in my Herds would shit now read power bikes has secured a $150 million investment. Radon boss says the money will focus on a number of things will be expanding our rad retail stores and rad mobile service fans. It's come to you or provide a great destination Location to come. Try our bikes ride power bikes, is now the largest teabag brand in North America, with more than 200,000 writers, the managing director of one major investor Morgan Stanley Counterpoint, Global says they're thinking their money into the venture because they believe he bikes will play an important role in the future of mobility. And a factor come on
Fresh update on "morgan stanley" discussed on Bloomberg Surveillance
"If you look at the 30 year long bond yield that is still below the Fed's vision of where neutral policy rate is, which is 2.5%, so we still are at historically low levels of interest rates. I do think that there's plenty of scope for more fiscal stimulus, and it looks like John We are going to get it good to catch up, says Send our best for the team while you're at home back there. Morgan Stanley, the head of global macro strategy, Tom came looking for 1 70 year and now on the US 10 Year Yield right now. 1 44 1 70. It's how you get there into speech, John that you get there in critically dissenters call. It's the underlying economy dovetailed around. That yield, and that takes day to the date is a little bit delayed. What you get from the strategies, Thomas a lot of thought you never get them turning around to say we'll get there next week. Even the price action of the last week, John who knows this is such a such a such an important thing is how the street consumes all the guests that we talk to. And you're right. It is food for thought its food to help you frame your belief your set up in the markets not by hold cell, they said. We took castle here in price targets and thirst Accession. And some, Yeah, and people had to change their forecast. As a result, I'm struck, though, about what the market is expecting from Fed charge A Powell this week. In addition to other Fed officials, are we going to hear yield curve control? Are they going to try to talk down the move? And what is the potential moral hazard? John? If they do if they react to everything right now, they're more concerned by what happened at the long end that huge intraday swingle more concerned about Market price again hikes way before they're looking at doing interest rate hikes. I think both I think all of the above yes. Only above. Yes, coming up. Eight AM David.
"morgan stanley" Discussed on Morgan Stanley Ideas Podcast
"Or all of the above this season on now. What's next original. Podcast from morgan stanley. We're trying to figure out what life after a global pandemic looks like or can look like some of these changes will be settled others dramatic but no matter what even after the dust settles. Life is not going back to the way it was before. We're exploring how the world continues to evolve in the face of a global crisis and the rare chance it gives us to rethink our old assumptions. This may be a once in a lifetime challenge but it's also an opportunity to create real and lasting change today. What's next for mental health. Curtis whitman's emergency room. Did not stay quiet for long. We had one day where we had forty four patients in our emergency department seeking again tricare which is really intense and way beyond what we are. We have six specific beds designated for psychiatric patients and so six beds forty four people. That's one single day of dr. Whitman's life undercover. We talked to him in late november. Twenty twenty long. Pass those early days. In the spring he now sees his workplace in a much starker. Light looks much more like the kind of crisis hospitals that good set up after a disaster or in a war zone or someplace like that. It's painful to watch when your job becomes this overwhelming. The can't help but feel like you just not doing enough. It's painful for me to see this and think about how hard it is to be a person who's already in prices already struggling with feeling very depressed or hearing voices and then we're asking them to sit in a chair for twenty four hours to wait to get care which a feels terrible now. Missile is chaos. There are moments ones in which he can pause and listen to his patients. They tell him the same thing again and again. We're hearing a lot of. I couldn't see my provider anymore. Because i didn't have access to telemedicine my providers one hundred percent remote or i am struggling with not having social connections anymore because the people that i would have normally seen are trying to remain socially distant and so a not seeing people who aims for supports as often if emergency psychiatric units like dr whitman's overcrowded. Well it's because people are suffering like never before we saw it ourselves making this series. Our own guests said they were struggling. Here's just a few of them including my buddy lombardo. The one with the bonsai tree. It's been one of the hardest things that we've ever had to deal with and you wanna talk about what kept me up at night. Praying was that i just. I didn't imagine that. I was going to be going through so much stress that i that i did at rock-bottom with Around and of march. I'm walking by myself indoors along and then i found the winter was coming around the kona and i knew i i was gonna get myself into those. I knew depression set in for a lot of people because there was no light at the end of the tunnel for some people. There still is no light at the end of the tunnel. You could see the level of stress and frustration in people's faces it doesn't matter race gender. It doesn't matter income. It doesn't matter class like everyone was affected in some way right now. It's totally normal to wonder if the entire world is going mad except mental health has always been at near crisis levels. Doctor whitman says this problem predates the pandemic. there was absolutely a crisis before. i think. what's different is. There's just extra. But i don't think society as a whole has really grappled with the fact that we have a lot of need for psychiatric care and we are not meeting that need or not close to meeting that need meeting that need is going to take some creativity and a few new ideas and we'll get to that in a few minutes. Some of us though are seeking help for the first time. Tell me who you are in something interesting about you. Something interesting about me. God this question. Always stresses me out. I guess i have out no no. No i'm kidding Gazelle azerbaijan is a twenty seven year old actor from vancouver born in iran. She moved to canada when she was a toddler this year. She took therapy seriously. Which for her is a little unusual. She was raised in a family and culture. That didn't believe there any other. You know western therapy jargon that you would use today wasn't really in my household so whenever i would go through periods of depression i would be told. Oh you it's just you know you're just sad or you're just something that you gotta bounce back from your or in in in my tradition of be baby just need to pray on that that's right. That's right anytime. I felt pain or sadness or anger any any overwhelming emotion but needed Some sort of attention often. What would happen is i would be told while you don't even have that bad. We came from iran. Like hear the stories that we can share and then they would share these traumatizing stories. Which would make my stories. Feel like a tic tac and in comparison to them but as the awfulness of this past year crested gazelle realized. She needed some professional support. She saw beyond her family's traditional resistance that they are happy and all because she witnessed the rising of a different kind of resistance. The pandemic was one thing. But then yeah. The reemerging of black lives matter and anti-racial conversations. That have been kind of percolating over the last few years but then this year it became impossible to not persist. Like i wasn't able to let it go. I wasn't able to just be like yeah. You know what let's just whatever. Let's keep the peace it. It became very necessary to drive the point all the way home. Dissolve engaged stood up against racism defended her ideas. Coster friendships damaged relationships with family. But she persisted and it may be because this moment echoed moments from her own past. When nine eleven happened. I was nine or ten years old and the treatment i received after that was a night and day. I have been called terrorist a lot. You know and by the time. I hit high school. It was one of those things where the thing i cringe about. Today is how then internalized comments like. Oh you're terrorists like you're going to blow the school up one day. That terrible time plays like a loop in her head still. She found her life sort of collapsing in itself so she went online asked friends for advice and found herself therapist. Yeah i posted on instagram. I shared a story saying. I'm looking for therapy. Please send me your recommendations so links were shared and resources were shared. And it's funny. Because i actually ended up going with a white guy.
Fresh update on "morgan stanley" discussed on Bloomberg Wall Street Week
"Fed chair J. Palm or less promised this week in his testimony on Capitol Hill, We want inflation expectations to Concord, right, 2% and not simple polo 2% were committed using tools. To achieving that purchasing assets, at least at the current case. Until we see substantial further progress toward our goals. Even the dovish Powell has to admit that the Fed's policy is combined with even more stimulus on the way and vaccines as well. Could move inflation up. Here's Wall Street Week contributor Larry Summers. I don't think the right question is whether this package would overheat the economy. I think if it were passed as written, it would overheat the economy, but it's not just inflation. That could be an unintended consequence of all that. Mules. Those rock bottom interest rates also promote so called zombie companies, firms that don't generate enough income to pay interest on their debt. Those underperforming companies have borrowed $140 billion despite credit ratings below investment grade borrowing is cheap money is really kind of not an object amazingly and all of this stuff that's Nobel laureate Paul Krugman. These walking dead companies include many we all know, like Macy's and Carnival and Exxon Mobil. Here's Thomas Friedman from The New York Times. There's Sochi uptown there soaking up capital on Do that slows down innovation because the natural process of capitalism which is like forest fires in nature, you clear out the dead wood in order for new growth to emerge. Isn't happening. All four Major U. S Airlines became zombies in 2020 after the lockdowns forced them to limit or shut down their operations. It's not just obviously your travel. It's just the hotel's is the theme parks is the casinos. It's the cruise lines that is, they're all such big contributors. Our industry, broadly is is the single biggest contributor to overall GDP in our nation. That's Delta CEO Ed Bastian. And it's not just that the zombies maybe living past their useful life. It's the opportunity cost of their consuming talent and capital that could be put to more productive uses Thomas Friedman again. This is reassure Sharma's point that basically when you have all the zombie companies for soul, they soak up a lot of town. Got engineers kind of sitting around on but the same time they soak up a lot of capital on git leaves less room for started one of the first to see what all that steam was. Maybe doing to our economy is Ruchir Sharma, Morgan Stanley Investment management chief global strategist and author of 10 Rules of Successful Nations. Who says the health of our free enterprise system itself may be at issue capitalism I think is being undermined when you keep on doing these kind of interventions. So therefore what you see here is a zombie fication off capitalism in a week on does one statistic which I analyze this The number of zombie companies. Let's see The United States today is 20%, which means 20% of all listed companies in United States have not on enough profit to cover their interesting space for three years in a room. This number in the 19 eighties was a mere 2%, You know, So I think that this is the entire problem today with the way we think about stimulus and what the effects are that the convention with them and the consensus is that as long as you don't have inflation There is really no downside to having constant intervention in the markets and to having all this stimulus because people tend to think that inflation is one really should come through as a negative consequence on the point that I've been making is that there are many insidious consequences off this constant intervention on bond, always supporting the markets. And one of them is the fact that you have a rise in zombie companies, which is why I think that productivity growth around the world, including the United States, has been so weak over the last few years. So that's a critical point. Productivity Ultimately, in terms of really healthy growth. Have we essentially suspended creative destruction, trumpeters creative destruction because I think a lot of increasing productivity has thought to become from creative destruction. Yeah, because we see for bored sighs. Look at what's going on, which is now the number of new start us that's declining. The number of zombie companies is going up on his finest. Existing companies are concerned. We have really had so much monopoly power as we have now, so this combination tells you that there's something wrong with creative destruction not always lost. But this is being undermined overtime and I think that these consequences off stimulus and nobody is too small or even big to fail. I think that this is what the consequences are which are less appreciated because most people appreciate the consequences when there isn't a parent crisis or the sun big upsurge in inflation. What's happening beneath the hood. When you look at productivity and wise productivity declining. I think that these reasons are being dramatically underestimated. Connect up monopoly part of the one hand with what you're describing here with keeping alive cos otherwise might fail. Why does the one lead to the others Because money is so cheap so people could afford environment to buy other companies. Where is this something else? Absolutely like the nail on the head, which is that a lot of academic work here has been done to show that A larger companies get larger because they have access to chief finance, and they're able to make acquisitions and the other the spectrum you have zombie companies that they were able to stay alive because they keep getting easy and easy finance. What could squeeze our people in the middle and forms in the middle and also, it keeps out. You start up some cunning. That was for sure. Sharma of Morgan Stanley coming.
Get ready for Apple's first $100 billion quarter in history
"Site ran part of a note. From bernstein research analyst tony saginaw gi. Who no surprise is still pretty. Suck unagi kind of crazy. He is actually up to his expectations and a pretty big way. But he can't help the whole e or think pulling parts of his note. We are raising our first-quarter earnings per share estimates to a buck fifty three and fiscal year. Twenty twenty one earnings per share to four dollars and twenty six cents due to higher iphone. Asp's a weaker us dollar and better mac and ipad sales worth noting their earnings per share estimate of a buck fifty three for the december quarter higher than morgan stanley analyst. Katie hubertus estimate of about fifty yet is stoked and he is saginaw. Unagi quoting his again. So what's next on one hand. Our analysis indicates that apple outperforms sixty five percent to eighty percent of the time in the near term when revenue revisions or positive on the other hand opportunities for upward revisions for fiscal year. Two thousand twenty one estimates are likely to be more muted post. This quarter second. Quarter and fourth quarter. Revenues are typically seasonal. Apple will be staring down a very strong ipad and mac comparison in the second half and it's unclear. If next year's iphone cycle will offer compelling new functionality. Second doggy stays neutral on apple with a market perform raiding his price target on the company's shares as one hundred twenty dollars those shares closed thursday at one hundred thirty six dollars and eighty seven sense.
Morgan Stanley releases tech growth predictions
"Wednesday was a busy day for morgan stanley analyst. Katie huber hubert over at apple. Three dot oh philip. Elmer dewitt had two notes from the hugh land on his desk. The first predicts growth for the mac this quarter with an asterisk while the second and with a higher price target for apple shares. We'll start with the first one since she did. Computers are all rage right now in ways that surprise. Even huber d. She cites recent number from industry tracker. Id see that. Show-piece shipments ninety one point six million units last quarter that represents growth of twenty six percent year-over-year and beats her firm's own expectation by ten percent. While twenty six percent is significant it is not the phenomenal growth to which i was referring. According to her note hubert he predicts ninety percent p. c. growth for the current quarter. Though you kind of have to ball up such comparisons and toss them out for the march quarter of twenty twenty. We had just come off the holidays while they were starting to be concerned about corona virus the collective. We didn't actually stop going to the office until the middle of march even if we had all gone out and bought computers that day most of the quarter would have been spent not spending on laptops and desktops. And my saying you can ball up that ninety percent comparison and toss it out or put an asterisk beside it at the very least
Morgan Stanley profits rise 48%, helped by strong markets
"Bank has blow out earnings. In fact, for Morgan Stanley, it's the best year ever. Morgan Stanley profits in the fourth quarter, jumping more than 50%. Much of that do to the trading desk, which raked in $2.5 billion for Wall Street number one stock trading shop on Wall
Here Are the New York Companies Hitting Pause on Political Donations
"Companies have suspended political donations. Ah lobbying Group in Washington says We have never seen anything like this. New York companies that have now suspended contributions either to all members of Congress or just two Republican senators who voted against certifying the election. Include Verizon, American Express, MasterCard, BlackRock, Morgan Stanley, Citigroup, Visa and JP Morgan Chase. Now, the R and a golf governing body said. Body says it will boycott President Trump's golf course in Scotland to as the PGA is doing in Bedminster, New Jersey.
"morgan stanley" Discussed on Morgan Stanley Ideas Podcast
TSLA is The Chosen One Says Morgan Stanley, Price Target to $810
"Everybody rob power here and today. We're talking about a new note on tesla's stock from morgan stanley. They have increased their price targets significantly. Today after hours. We also have some news on the full. Self-driving beta report on monowai gross margins from china and some news that riven may be raising some more capital taking a look at the stock tussle. Today finished up zero point seven percent to seven hundred and thirty five dollars eleven cents that actually did trail the nasdaq which was up about one percent. But hereafter hours worth. Things have started to get more interesting. After morgan stanley released their updated tussle note. Tesla has jumped by about ten to fifteen dollars. One and a half two percent to read around seven hundred fifty dollars per share otherwise news on tesla was fairly light today. So we're gonna spend most of our time here looking at that note. And as i always say when we look at analyst notes a lot of this is just contextual and it gives us good jumping off points for discussion and things like this also gives us good perspective and insight into the kind of information. That's being circulated around the street. So right off the bat here. This morgan stanley note comes with a great headline. They title the no quote the chosen. One tesla industrializes internet of cars target two eight hundred and ten dollars and quote. That is a huge fifty percent increase over the previous price. Target of five hundred and forty dollars per share. They write quote. We update our forecasts and long-term assumptions. Following better-than-expected cue for deliveries sixty one percent year over year growth and five billion dollar capris raising twenty thirty volume to five point. Zero million units versus three point eight million and taking the price target two hundred ten dollars. Tesla is richly valued for a reason reiterate overweight and quote. Okay so what has changed. Here with morgan stanley's assumptions that has led to this fifty percent price targeted increase while they say they had better than expected volume this year. You four specifically. There's been a significant capillaries. And of course tesla was added to the s. and p. five hundred. So they beat morgan stanley's projection. They have risked and they've been added the s. and p. five hundred which has reduced the float effectively reducing the supply of tesla shares as for the actual changes to their model driving this higher price target. They say that quote the majority of the price target increase comes from the impact of our higher volume assumptions in our model and quote as i said they have increased their twenty thirty delivery forecast from three point. Eight million vehicles to five point two million vehicles and they say that they have now added to factories to their forecast for twenty thirty bringing their total tesla. Plant count to ten. I think that factory count is actually probably pretty close but that would only be you know. Five hundred eighty thousand vehicles per factory by twenty thirty. But it's become very clear. That tesla actually has ambitions of producing two million vehicles or so per factory per year. At least in the case of texas and dig your berlin shanghai. They've said one million plus so even just those factories plus fremont if can hit their production targets in those factories. Gets you to more than five. Point two million that jonas projecting here for twenty thirty as for their earlier year forecasts for twenty twenty one they have increased their projection from seven hundred seventy eight thousand previously now to seven hundred ninety two thousand and as a reminder just as recently as july they had actually been projecting just six hundred and twenty thousand four twenty twenty one so they've actually up that by about thirty percent in just the last six months for twenty twenty two the forecasting one point one five million. I'm not sure what that was previously for. Twenty twenty three. Then they are up from one point. Three five million previously now to one point seven million the fun thing about these increased volume targets from morgan stanley. Is that a few months ago. They did what they called. A great tesla rating. They started including things like mobility services as a recurring revenue from autonomy in their price target. So they're sort of having this ongoing opera moment this year. That as they now add vehicle volume into their forecast they now have to add additional services and revenue margin as well and that is where the game changes in terms of valuation for tusla. And the thing is you. Don't even need a fully autonomous robot taxi type of service to start adding that services revenue in when tesla's starts offering full self driving as a subscription. I think that is going to open a lot. Of analyst is to how tesla's business model is structured and will be increasingly structured going forward leveraging software. It's already easy to say. As i've said in the past that if you want to compare valuations show me another automaker that is selling a ten thousand dollar software option then we can make those comparisons but because that is all sort of right now lumped into the same revenue the same margin line on tussles earnings. People just aren't willing to recognize that yet as a separate line of business when tesla's starts offering full self driving a subscription even if they don't break that out on their earnings that forces a change in how analysts are forecasting and modeling tesla they have to start forecasting recurring high-margin revenue right. Now that's basically all just being pulled forward into that simple ten thousand dollar option which is great but it also makes it easier to ignore the other factor making it easier to ignore right now. Is that a big portion of that is still currently deferred revenue. So it's not actually showing up in earnings. But as tessa delivers more features this year less of that is going to be deferred tussles valuation in and of itself is playing a role here too because it has become so massive analysts have to cover this. They have to cover well. They're getting more and more resources to cover it. They're getting more and more questions as tesla's been added to the s. and p. five hundred those benchmarked funds managers. They need to know what to do with the stock so the coverage is just getting more and more intense and again because the evaluation hide they're going to be a lot of analysts running numbers sort of back testing against that valuation. Saying okay to justify this. This is what needs to happen for the company.
Hospital Workers Start to ‘Turn Against Each Other’ to Get Covid-19 Vaccine
"Who did not have priority were apparently skipping the line and getting a covert vaccine at the hospital here in the city. That's according to The New York Times, which says a rumor spread last week at New York Presbyterian Morgan Stanley Children's Hospital that the line to get a vaccine was unguarded and that anyone could get in line. Only those who have been most exposed to the virus get that priority for the vaccine. But the times now reports that those who were lower risk, including even some people who were working from home were able to get vaccinated. Dr Craig Albany is one of the top executives at the hospital, wrote a letter to staff saying he was so disappointed and saddened.
Apple plans self-driving car 'in 2024 with next-level battery technology
"And now bad poetry towards the week of christmas. Two thousand nine. The nine decided to take some time lazy and slow. The holidays would go as i wrap presence and schlep them to and fro then all of a sudden in my newsfeed there came. Talk of a mac tablet netbook thing ee ipad. It's eventual name and plans for a lazy holiday. Were shot back to my mac in the news feed. I got and now. I am having flashbacks. My friend running out of rhyme. So that is the end. I call that poem apple car. I won't say and planned to coast this week. But i had planned the coast this week. Then reuters ruined everything. Okay not really. This won't be like the ipad year still within an hour of the story. Breaking that apple plans to roll out a car by twenty twenty four. I had received four really excited emails from listeners. None of which. Saying explicitly widely. We're really excited. Writers says we should be excited about the battery. Actually hold on. Apple insider highlights reuters report. That says we shouldn't be excited about the battery. I'm working from the apple insider piece. Here's what they we know. Apple is working on a passenger car. The battery is going to be amazing. Issues related to covid nineteen may push production and the twenty twenty five and apple may change its mind about producing its own car and develop self-driving systems for other car makers instead now even there there are some nuance according to apple insider. It's still unclear. How apple would physically produce the apple car. It's likely that the company will tap a third party manufacturing partner to build out the vehicles. It honestly really sounds like who they talked to was a battery nerd. According to reuters sources according to apple insider the center of apple's or strategy is a new battery design that could radically cuts battery costs. Increase the range of the apple car. The battery will be based on a mono cell design that would allow engineers to bulk up the individual cells in the battery and free up space within a battery pack. That design would mean more active material. Which could result in a longer rate. Now as of this writing only heard of one firm responding to the latest apple car talk and the respondent wasn't even the analyst that follows apple philip elmer dewitt samples three dot o. Ran part of a note from morgan stanley analyst. Adam jonas jonas has had a morgan. Stanley's auto and space research. According to the site after a short. Recap of the story. Without poetry i might add. Jonas offered six points in reaction. One it has long been the auto and tech hardware team's collective working assumption. That apple will one day design engineer. A car to possess is the key ingredients that we believe are critical to be successful in the future. Auto industry three from tesla perspective. We have long felt that tech players like apple working with manufacturing partners such as foxconn represent far more formidable competition than established legacy. Oem's for large tech firms want access to the auto industry due to its large title addressable market size as well as the enormous amount of time spent in cars five from our apple team they see project titan term project where similar to other markets like mobile and wearables apple can disrupt through vertical immigration and six the electric vehicle arms race is still in the early stages and the battery. Technology is not mature. You're not mature morgan. Stanley has an overweight rating on apple shares. The firm's price target on the shares is one hundred forty four gross
Tencent Buys Warframe
"The first here is from the motley fool and the headline tencent makes another billion dollar gaming acquisition. The chinese technology and media conglomerate has been on an acquisition spree in the gaming space making its leadership position even stronger What they bought here was Lay you lay you technologies. Which is the parent company of digital extremes And it's a canadian. Based video game studio known for war frame they also own studios including athlon and splash damage. Ten sense going to be paying roughly one and a half billion in cash Choir the company which is incredible The buying spree that they've been on the amount of cash that they've put out there the second acquisition this one I think we talked about it on a previous podcast And it was a agrees to a us. One point two billion dollar deal for f one video game developer code masters. I think when we talked about it we were talking about it in the context of take two interactive having made an offer and ea sort of just trump them. The came came up with an offer for about two hundred or two hundred and fifty million dollars more so they were willing to pay a higher Share price 'cause code masters is publicly traded. And so it looks like ea is going to end up acquiring code masters having outbid take two interactive. Which i think at the time when we talked about it we felt that was a big price. Tag billion dollars for code masters and now the looks like the trading price is going to be one point. Two billion so curious to get your guys thought You know we can talk about them individually or we can talk about sort of which one we think is the better acquisition Neil i don't know if you know the war frame guys. I know it is canadian based a candidate based But curious to get your thoughts on these two. My i take is. I know you guys are fans of this gentleman. But jeff bezos when you look at code masters being bought yeah code about being bought for one point two billion. Let's just taking kids that are issued. How amazing that twitch nine hundred seventy six years ago right on decide to eight point. Nine children should win. Ea i think is in such a good spot and we might say openly. Here that one would you billionaires demo overpaying if you look at the stock run that they've been onto it's a currency unto itself and there probably sixty seventy percent on the year and adding more aaa titles to their. Snow is all the better. I think they've just done a tremendous job in and similar racing at f. One especially with what we saw as a result of that netflix series drug survive and get him is f. One is making a huge comeback younger audiences and people that have now seen this through netflix. And then people that are you know. Middle aged or know mid thirties to my age is. We're all obsessed and we're following it every week and it's quite dramatic as i didn't care about f. one at all in the last couple of years. But i'll admit. I've i've in the playstation store i've bought the f. one game it's not that great in my opinion maybe not that good at driving it but i think the acquisition is worth the risk. You want to be known as as a world class when it comes to fee for Nhl sim racing. They've got such great titles along the way and you know the team over there in teams doing it competitive gaming entertainment now. They're just making the right most. I don't know much about this. Said deal admittedly But anything tencent touches It's a powerful move and they're building empire that we should be very very afraid of. I mean both seem like really good acquisitions from synergies perspective right because ea has all the sports titles so f one feels like a perfect fit and and ten cents graded monetization right. Probably better than anyone and wore. Frame really is one of these free to play like monetize. Every which way up the wazoo kind of games like it's in the ten cent portfolio both of these acquisitions. I have to tell you like in a vacuum. I thought they were already owned by the people. Buying them like no joke. Like i literally thought were frame was somehow i was like. That's just the sort of thing they buy and the same for ea. Like i literally thought. Like i played grid quite a lot in my memory. Brid was an ea game like it was published by ears. I don't know. But like i just that tells you how lake like well on portfolio on message these acquisitions. Our prices are high. But as neil said like the market tie and then took to other point as well you know putting in context of bazo acquisition. Like doesn't matter where you put money and put it games like i think anything that was bought for a billion dollars a couple years ago smart because there were a couple wasn't just twitch we had minecraft myra look in a world where roadblocks goes public at thirty billion or forty billion market cap like buying minecraft at four or five or whatever they paid right seems like house. Yeah just like microsoft like so like the bottom line is but guises whiting. Listen to this podcast. It's so important. It's just like this is not the exception. This is the norm putting money in games today will turn into more money later. More likely than not investment advice aside. I'm not a credit above because the industry is just so positioned. It's the future of so much entertainment media and everything so like the reason. We're observing these crazy exits and outcomes is because the space is a whole is growing so much right so lake. Get into the space. That's the bottom line william. I'm with you on that. A hundred thousand percent. And i think the interesting thing is re that are in the industry. we talk with these things very openly. We discuss them. But from an outside portfolio manager at a morgan stanley wherever they probably are afraid
Sizzling Tech IPO Market Leaves Investors Befuddled
"Headline. The Wall Street Journal. Sizzling Tech AIPO market leaves investors be funneled basically, investors saying, guys, this looks a little bit frosty here. You've actually got companies that have pulled their IPO's not because they're too worried about the downside, but because they might explore other options that allow them to raise money at higher valuations. And you've got some people. Making comparisons to the tech bubble, saying, G. This doesn't necessarily look healthy in terms of what we're seeing on pricing for, you know the long term here, so I don't think puzzled should be used to describe this. I mean, we've seen Irrational exuberance around the number of securities this year that I don't think really added up. So I don't think this is all that puzzling that we saw. Ah, whole lot more demand for these securities than was anticipated. I would be pretty upset if I were you know, Airbnb, or I guess I can't be too upset. I still own a lot of stock at pretty high value. But you took that I P o. And this might be worth explaining. How can we go through the process of an initial public offering? So when you hire an investment bank On Then do your road show where you go Talk to a bunch of investors. How exactly are you determining this price that you I po at and then the difference between that price and what it actually trades at at that first day. How's this all work? Yes. So basically what you see happening is that Let's say that I am running a meal delivery company called Chuck Dash, Okay, and I decided I want to take Chuck Dash public. I'll go to the big investment banks. You're Goldman Sachs. Is your Morgan Stanley's Merrill Inches, All those and I'll say, look. I want to have an exit into public markets, and I want to raise X number of dollars in doing so, and what they'll do is they'll say, Okay, you know, we're going to, you know, first go through and, you know, look at all the numbers on your businesses Submit what's called an S one. It's for Mass one. Where you say Yep, Here's what I've done in revenue. Here's my sales. Here's my profits. Here's my margins, Yada, yada all the info on your company. And basically you'll, then go to all those investment banks and have meetings with them. And they'll, you know, grill you on the fundamentals of your company. And from there, they will then go to their book of business all of their clients and say, Hey, we've got this company. Here's what we think it's it's worth. Do You have any interest in buying at this price? Here? The metrics on it, You'll go around with them in that road show, you know, pitching yourself to potential investors. And basically from there, you get to a number where you say See, I think that Chuck Dash is worth $80 per share. And I want to issue two million shares of it. So I'm going to raise you know, $1.6 billion or whatever it ends up being. And so you know you you do that. And you say, Okay, I You know, I'm selling all these new shares. And so it salutes management a little bit. But these new shares that air going out into public markets and then you eventually get to the point where you have your I P o Day and on that day. You issue those shares at that price, But all of the indices, I'm sorry all of the exchanges Whatever one you trade on whether it's the New York Stock Exchange, the NASDAQ they will go in. They'll try to fill orders based on the pricing that's out there. And pretty much if there is more demand than there are people willing to sell at that AIPO price it drives the price up, okay and remember a lot of old shareholders once who are you know, founders and old employees. Their shares are locked up so they can't sell right away anyway, so it creates a little bit of crunch in some cases. But again through good pricing. If I say I'm appealing at 80 bucks a share? Yeah. You want to see a little pop on day one, but you don't want to leave too much money on the table. What we've seen here is in the case of Airbnb. They aipo, they said their share price. It's $68 a share. But there was so much demand on public markets once they actually you know, started this process that even though Airbnb sold their shares at 68 a share, the first trades happened actually, at north of 1, 50. So Airbnb is sitting there saying Okay, either we should have priced higher and raised twice as much money or we should have sold half assed many shares and raise the same amount of money with less dilution. And that's I think part of the reason why you're seeing some of these companies, saying the investment banking model didn't deliver the rate of the proper capital allocation based on you know what actually happened when these companies went public?
Why This Could Be a Huge Holiday Quarter for Apple
"Apple is set for a record holiday quarter that is the thinking of morgan stanley analyst. Katie hubert philip elmer dewitt's apple three dot o. Ran part of a research note of hubertus this week. According to that is entering the holiday period with its strongest portfolio products and services in years eighty percent of which have been refreshed in the last twelve months and quarter to date. We've seen a number of positive data points. We believe can lead to a record. December quarter that is under appreciated by consensus. We expect apple to beat december quarter forecast reflected in our four percent above consensus revenue and five percent above consensus. Eps estimate calling out a couple of product specifically. She's ended the continued waits for phones in the iphone twelve line. She's also seeing signs. That iphone picked up market share in china in october as domestic smartphone makers lost share turning her. Focus to the max. She has liking the positive reviews from the tech community for the recently released. M one max here again. She has also pleased by how the machines are to get waits for. The max will likely lead to double digit growth for the machine in the march. Quarter in her. Estimation huber. d has hasn't overweight raining on apple shares. Her price target on the shares is one hundred thirty six dollars
Black Friday Was a Bust for Many Stores, Better for Online
"It was a quiet black Friday at many brick and mortar retailers yesterday because of covert 19. However, as KCBS is Melissa, call Ross reports this afternoon. That doesn't necessarily mean the holiday shopping season will be a bust. Things are different this year. Big box stores that often are open on Thanksgiving and anticipation of black Friday stayed closed and crowds didn't show up to score bargains yesterday, not in person that is, says Morgan Stanley, Wealth advisor Georgia Chetty. The brick and mortar side feels really, really down, but on the Internet side, which is the big phenomena Sales were up between 20 to 30%. So when you have the downside of brick and mortar, it's being picked up on the e commerce site, and the Chedi says that shift online shopping is expected to continue through the season, which means that getting your purchases might be a problem This year. We're expecting over 700 million packages to be delivered, and they really under enough trucks your drivers to do that. So the real winners in this game are really going to be the retailers who were able to meet your demand to get your gift to you by Christmas In order to give to your family and friends. The Chedi adds that consumers are expected to spend this season even though the pandemic has hit the economy hard. Melissa call Ross KCBS
U.S. tops 13 million COVID-19 cases as holiday shopping season begins
"Because of Cove in 19. Asked CBS reporter Melissa Hall, Ross tells us the pandemic is likely to drive even more people to buy online. It doesn't exactly look or feel a lot like the typical weekend after Thanksgiving in terms of holiday shopping, covert 19 force the quietest black Friday we have ever seen. If you noticed on Thursday, the big brick and mortar stores were closed. That's usually the kickoff day Thanksgiving families get out there and they want to get their their deals early. And Morgan Stanley wealth adviser George the Chedi says people then tended to shop online. Instead of showing up at in store Black Friday sales he expects cyber Monday to be huge and e commerce numbers to be strong all season. Despite the pandemic, hitting the economy hard, Even though we have a lot of people out of work, there was a lot of savings going on with care, Zach one people have some additional cash. They put it away, and even though their earnings are are less sure they took money to spend in, you know us in the United States would like to go buy things that we like to spend. The Chetty says Retailers anticipated that the pandemic would change buying habits and began offering deals. Particularly online deals weeks ago. Melissa Call Ross case, CBS as
Tesla stock jumps on carmaker's addition to the S&P 500
"Up again after the announcement of its inclusion into the S and P 500 index yesterday and today Morgan Stanley upgrades The outlook for the electric vehicle company and test will stock up over 10% on the clothes, Carnival and
Qualcomm stock closes up more than 12% after earnings beat
"An earning smash hit. The San Diego firm enjoyed it more than 35% gain in revenue to $6.5 billion in the third quarter. With CEO Steve Mollenkopf, telling the earnings called that Qualcomm's investments in five G are coming to fruition and showing benefits in its licensing and product businesses. Wall Street analysts are cheering the results, with Morgan Stanley saying 2021 will be the sweet spot for Qualcomm and five G with every global handset manufacturer paying license fees. Shares in
Jobless claims jump, hitting highest level since mid-August
"Stocks are pairing their losses. Butter in the red for the third day in a row do to negative jobless news, the lack of stimulus and new virus lockdowns in Europe. The Dow is down 52 points nearly 1/5 of a percent. The S and P is down 520.4%. The NASDAQ is down. 0.8% investors are spooked by the latest weekly jobless numbers that came in higher than expected. And the continuing stalemate in Washington and talks about a relief package. On top of that Europe's biggest cities are clamping down again to try to contain the Corona virus. Financial companies, though they are rebounding from a two day selloff after Morgan Stanley's third quarter profit dazzled Wall Street rising 25% from a year ago, a trio of former executives from Facebook and Microsoft Have raised $35 million for a startup called Whisper their developing a hearing aid that will work with artificial intelligence and be able to get software updates through a mobile app, much like a
"morgan stanley" Discussed on Morgan Stanley Ideas Podcast
"Each these circles unique and wince you wear this body suit, you can use our app to scan yourself. And you get a three D model of your body and through that we can suggest the perfect size to fit your body. This sounds super futuristic, right? Buying custom fit clothing without ever having to leave your bed. But the reality is the technology and consume a buy-in required to get to that future. A still aways off the sows are sued came with its own challenges, and in April twenty nineteen zero stopped international sales of the sausage, but that original goal finding ways to make online shopping puzzle is still, those target on this ozo- suit, brought them one step closer. Those are took all those measurements from real people. Title, anonymous them and use them to enhance the bedrock of that business, the Soza town website that sizing human database models, actually, the largest in the world as far as we know it. So still wants to create a world in which that's literally assize for everyone. So they're focusing their energy on Souso towns, such algorithm. A lot of online reach Islas a working to make their websites, easy to navigate, but so Zo has a leg up. You can search those town by the width of your shoulders, just as easily, as you can search by color. Oh brand. But of course, the publicly fitted pair of jeans doesn't solve the problem of how the consume of fines that pair of jeans in the first place. If you only exist in the ether, you have to spend a lot of money to get eyeballs to your website, time, and time and time again, unless you can develop an ecosystem that keeps that shopper coming back repeatedly without the. Need to spend that money on marketing. There are a lot of ways to develop that ecosystem, some retailers do it with a subscription model ensuring customers, get in new product, not just once but say once a month others send Email blasts to notify customers about deals and promotions. But what more companies are doing is creating online communities, a community of shared interests. So if retailers can align themselves with a passion or a lifestyle that generates a lot of interesting content, and you can develop a large enough community that the community generates its content, and the retailer can actually enhance the community. So, so, for example, has created a social app cold. Why so shoppers can upload a full body selfie tag every item and Sharat online, and we use those looks those pictures to help. Suggest new outfits, and new ways to put together outfits and you ways to, to suggest new brands. What's also interesting is through where you're able to see what you would potentially look like because each wear user has their height, so you can kind of look at their height compare it to yourself because fashion models tend to be unrealistic. To put it lightly, but where is full of user, generated content if online retailers like so-so can replicate that in person experience and combine it with the convenience and efficiency of the internet, online shopping could become the only shopping, but then is every main street, mole and small boutique destined to become a relic of the post a curate isn't so sure that stools like Toya will ever become obsolete. I think only the good, one will survive. But hey, we'll never gone because you know I cannot picture the town was city without any stores on the street. It will take many fun, part of the living environment on according to Kimberly at Morgan Stanley, the real question, isn't whether brick and mortar or online retailers will win out. But whether retailers in general will be able to keep. It's high enough to make being in the business of shopping worth it the profitability associated with the retail business in the future is likely to be less profitable than it is today. And in today, most retailers are less profitable than they were fifteen years ago when we look at at Toya and Zo together, it's easy to only see the impact they have on each other online. Join customers away from brick and mortar and vice versa. But what we should look at is how the strategies of both of benefiting consumers as toyah Zo and companies like them, what hotter and hotter to keep customers coming that helping consumer expectations. It's becoming the norm for consumers to expect highly personalized, efficient high-quality, exciting retail Imos expectations are going to be the biggest influence on the future with rising consumer expectation. Comes rising expense. And it's unclear if retailers are going to be able to offset those rising expenses in any way, rather than thriving at the opposite ends of the online versus brick and mortar spectrum many of today's retailers, live somewhere in the middle. They devote some of their resources to a small, but solid online business on some to that, in person customer experience. No matter whether customers shopping everyone is getting the same products and messaging through an Omni channel. So while we don't see a world where brick and mortar retailers go way in, in any sense of the word and e commerce retailers, it run the majority of business, we think rather brick and mortar retailers are likely to continue to thrive in terms of their digital efforts and their initiatives to be relevant shopping destination. With consumers when a company has one foot in the virtual world and the other in the real world. They're able to attract consumers from just about anywhere. Someone in New York can be a loyal customer to a brand that only sells products in Tokyo. But what said, Zo on a Toya apart from most other retailers, they've abandoned this only channel in order to pile up that Strang's zone could never find real estate lodge enough to house that products just as Toyo would lose that heritage and experience. If a screen stood between that customers and their products. I think back in the day, it walk into a mall. See this cruel new store you walk in and you gotta try things on. And then, you know what the brand is about, and you know what size you need to buy, and then you could continue. Buying from them online. So that was the Omni channel way of doing things. But nowadays, you discover a brand purely online again. Now. Oh, it's even more important that you're able to buy confidently from them. And that's where I think the technology can really make a difference. And we tried to do the only channel in Japan as well. But the goal is more of the people can have the same experience of online shopping in the store, rather than.
"morgan stanley" Discussed on Morgan Stanley Ideas Podcast
"It's everywhere when we hit the streets of Tokyo, it quickly became clear that if the rise in e commerce is taking down brick and mortar stools that isn't happening in Tokyo here in Tokyo. You've got thirty seven million people living, the llama ration- higher per capita income's than Japanese average. That's a hold on, of consumer. Of course. Right. And you've got at least the top three train stations in the world are all in Tokyo. This foot traffic along those normal points that drive any kind of commerce and retail. Right. According to ban the success of brick and mortar stores in Tokyo is not only thanks to Tokyo's massive population for longtime Tokyo is known for its relatively even distribution of wealth across the population that meant not only a lot of shoppers, but a lot of shoppers all with spending money early. Tokyo retailers figured out quickly the best way to get those shoppers in their stools was to draw the main during that commute. And the city is a retail heaven designed around that passion in Tokyo. At least we can look at urban development taking place alongside some very important railway lines and many of these railway lines were actually constructed by private entrepreneurs or private companies, what they did was they employed, a certain model that didn't just rely. On building the rail line and making money on selling tickets. But doing a couple of say auxiliary things along the tracks to say they would connect, perhaps a relatively flung recreational spot, and what you do with the with the area in between. You basically decide to develop that land more than three point five million people pass through Shinjuku station every day. That's about five times the number of people who commute through New York's Grand Central daily so today at every major train station in Tokyo, there's a move to harness.
"morgan stanley" Discussed on Morgan Stanley Ideas Podcast
"Mm-hmm. What about the plumbing? How do you navigate that process without reinventing, the wheel, you Tonto alma? This is a group of people say, forty families who pay a sum, and the total sum as up to finance the project development phase, so that almanac can pays for very good architect for the Moyer for survey for all the things that needs to get done. And we can go put down, but down payment on a on a property and almond makes that funding process easier to one person would have a hard time getting alone, large enough to fund a housing project of that scale, it's exactly the issue of, how do you borrow money? How do you how do you make a collaborative cooperative creditworthy? So what we've done is we've stabbed a foundation that is basically a Bank. It, it allows the, the community to lend money as small sum of money into. Foundation, who then provides equity up towards Bank, who provides the building credit the loan for the building process. So it's actually you could say it's a small Bank. But once you've got all that in place. How do you merge a couple dozen people's dreams into one cohesive. Reality almond doesn't just solve logistics. They also facilitate conversations and workshops among new community members to make sure everyone's happy. At our headquarters in Copenhagen losses. Leading plumbing workshop for a future co housing community, a Shad, summa home on the coast of Denmark, a group of fifteen people arrive at the meeting and gather around two tables with a log white paper on each, it says must haves in one column. Nice to have in the next column and not necessary in the lost. It's only the group's second meet up so the rule strangest for now but ominous is breaking the ice..
"morgan stanley" Discussed on Morgan Stanley Ideas Podcast
"And like most sports teams east bolts teams also sell shuts not your typical carbon poly blando shots made of pixels we do think that's going to be a real trend of people buying essentially digital thursay's in digital chachis that their avatars wear and so it stands to reason that if you are a person that plays overwatch and you're a fan of the boston uprising you might wanna buy a digital jersey of the boston uprising so that you can wear it while you're playing overwatch that's another unexpected market in a sports the market for talent and that's not just players teams have nutritionists because the teenage athletes don't always eat well psychologists to help with the stress massage therapist by the repetitive strain wrist injuries and manages and coaches many of whom fulmer playas because you're east sports life expectancy is pretty short in that by the time you get to twenty two to twenty four years old your reaction time starts to slow down and so you no longer actually have the ability to compete effectively so by the time you get to twenty five years old chances are we going to try to move into the booth to become a commentator or move to the sidelines and become a manager so east bolts has all the trappings of traditional sports from jazzy coaches to announces but that's one thing that east bolts lacks history most about big brewer cost bullets at decades old least people i started playing professional baseball in eighteen seventy lawn with those deep roots the future feels valley clear e sports on the other hand feels like on shotted territory but more and more investors a willing to jump in and see whether east bolts market goes bryan's team published a major report on east sports early last year an only about twenty percent of investors believe the it was real i would say over the course of that year we've gone from twenty percent investors believing to about fifty and i think that really the point that's going to sort of bring it even to a bigger majority will be when you get into twenty twenty and when more investors can actually go and witness firsthand just the individual city by city passion for these teams and for the east sports nana thanks to his work at espn jacob wolf has seen more that first time game play than most people he thinks gaming as a spectator sport is just getting started it may not be the current game titles but i think there will always be something i think that there will always be people that play video games won't to watch other people play video games i don't think that behavior changes ever really i think that the future of the industry's pretty bright and i think that more and more people as literal children start to get older and want to watch something and have entertainment it will be more watching video games and it will be watching sports and if you ask arena another fan at the way point cafe that's no question the east both industry is here to stay because so many of us play games on because e sports is creating community i feel like everybody loves video games on one center the other whether it's like a phone game or just like playing it online for like eight hours on just knowing like how many people are like really big fans of the game and would do a lot for it some people come here every week from new jersey or upstate new york to watch the game together and we love hanging out with each other and arena says if you'll thinking about checking out in east bolts event the fans will make sure you feel welcome if you don't understand the game too much like obviously so we'll explain it to you and then hopefully you'll like slowly understand and like can enjoy like the game play that's happening on screen so you can watch it together with us.
"morgan stanley" Discussed on Morgan Stanley Ideas Podcast
"Young entre preneurs for schools retirees it's pont volunteerism but mostly it's mental ship one of our volunteers in southern california made a comment that is entire career he is loved the business of business and as he retired score was the perfect venue to be able to join where he could still learn still keep his relevancy up and make an impact in the business of business steve records is the vice president of field operations at school he interacts with both sides of schools busin the young entrepreneurs i'm the experienced old mental 's steve manages a group of eleven thousand volunteers many well into retirement and if there's one thing steve has learned from his volunteers is that there's only so much gulf anyone can play in those first maybe year or two after retirement they are spending a lot of time on a cruise or a vacation or a golf course and there's a point in time where it hits them that they've got another thirty years of retirement and they need to be more active and engaged into something more meaningful than just improving their handicap steve has to consider the needs and desires as members of this older generation restructure that rolls seeing themselves notice bosses or ceo's but his mental that means using not just that hard one business expertise but their emotional intelligence and empathy to being an entrepreneur and being a small business owner is a lonely job i personally believe that asking for help especially asking for help in your businesses a very brave thing when in business owners tone.
"morgan stanley" Discussed on Morgan Stanley Ideas Podcast
"Services but if you don't like what those teams are providing there really aren't any other options so that monop cine generally worked out pretty well for free agents over the nas four decades it works because the team owners traditionally wanted establish players on were willing to pay them higher salaries but those team owners all the only buyer on the market when they changed the minds about what they wanna buy that changes the whole system remember when mostly talking about a market for the best players in baseball a by and large over the loss forty years best salaries have gone up and up an up just two years ago in two thousand fifteen in two thousand sixteen team spent a total of two point five billion dollars on free agents there were seven different players who were promised contracts of more than one hundred million dollars each then something happened last year they spent one point five billion dollars so it's a billion dollar different zilly span of one season so why the drop if baseball's overall revenue was decreasing than shoal teams might figure we've got to cut spending somewhere that spend less on players but that's not the case because baseball revenues they're up so a player might say hey major league baseball revenues increased by seven percent last year i should expect free agent salaries for player of my caliber to be maybe seven percent higher maybe expected to be fine percent higher but baseball may be thinking internally what do i wanna pay this player more money what's happening is this teams across the board making more money yes but that also getting a much more sophisticated understanding of what makes a team successful from sources that ought steeped in traditional baseball wisdom and those sources telling them that spending a bunch of money to bring in big stars might not be the smartest move i'm not an expert on baseball you know having grown up in holland where baseball is not a big sport i being to a few games i've seen movie money will but i think the parallels between what's happening in baseball with what's happening out outer industries including financial services.
"morgan stanley" Discussed on Morgan Stanley Ideas Podcast
"Quite difficult so suddenly the automotive industry is going to go through a tough time power stations on their infrastructure are at the heart of potential setbacks one thing to note is that the move from coal power to solar power could have a positive impact on the electric vehicle market but it's not just about how the electricity is created it's also about access to it when it comes to infrastructure it's a bit of a chicken and egg situation people might not by electric vehicles until the remote charging stations but that also might not be more charging stations until there are more electric vehicles on the road to avoid that tricky situation harold points to the power of policy change and if you don't believe him harold wants us to look back into all very recent past if the politicians are going to set these her heavy targets earned the car companies are going to get find if they don't meet these targets yelled and clearly um they're going to be very well motivated to make sure that the infrastructure is in place of for them to be able to meet those targets by selling more electric car so it is a bit chicken and egg i disagree without a toll but then i remind people that you know certainly people in europe and it when they were kids dated dream of driving diesel cars and yet world driving diesel cars today because we kind of hot too uh because the politicians subsidized us to drive those cars so the reality is you can achieve a lot with financial motivations and that goes both as a subsidy towards electric cars uh little so we can make it much more expensive to drive the combustion engine cars that we drive today what we found is that there is not a chicken and egg is to sauna moans channel from challenge point again from his perspective on the infrastructure industry as a specific series of events that needs to take place the infrastructure has to come first before the people can get into an electric vehicle and feel good about driving around their daily commute but also driving longer distances which is which is really important to them to see that this is on.
"morgan stanley" Discussed on Morgan Stanley Ideas Podcast
"When you're on a long journey and right now is about thirty minutes to to fully recharge these longerrange cars and that's going to reduced down to fifteen minutes the other question that you get is um you know people don't know anything about e res think that they are in our may be not not like a real car they don't don't accelerate as fast which is completely the opposite because unlike electric mode has maximum talk at zero they actually a for around town driving and for the driving that were all allowed to do in the speed limit they're the most fun vehicles that are out there they're they're much more sprightly and accelerate much harder and they're they're just great drive for very maneuver maneuverable and quiet cars so the the electric vehicle replacing the current combustion engine infrastructure will be no dissimilar in scale and total impact than the invention of the motor vehicle to replace the wasn't cart this is harold hendricks and equity manager at morgan stanley he was involved in on the charge a new research project all about electric vehicles he's obviously deeply immersed in the subject with a not for reciting statistics of foster than the time it takes to charge your eve call cars global is only was one point two billion cars you know we have that fleet growing to almost two billion as an analyst when harold looks into the future he's not just looking at the technological advancements that will bring about this change there are a lot of factors and sectors that influence this shift i one of the biggest influence his comes from all governments so we've had a lot of emission legislation coming through basically on the back of the paris agreement from two thousand and fifteen which means that to overrule co 2 emissions from vehicles have to be reduced very significantly and now so significantly that's the engine that your car is currently driving is no longer going to be able to meet those mission targets an and therefore most major global car companies are changing strategy towards an electric.
"morgan stanley" Discussed on Morgan Stanley Ideas Podcast
"Welcome back to the morgan stanley ideas podcast i'm actually knell tight for all season finale which take you into the future with this driving question how will all lives change one electric cars become the new normal when this building was built automobiles were first coming into the world and they were still occupying the streets with horses and carriages and pedestrians uh it cetera marshall brown is an avid designer an architect he's sitting in his office which is exactly the kind of place you'd imagine a hip up and design or an architect would joaqu it's a renovated 1920s landmark building on the south side of chicago with cascading concrete pillows and windows brightening open floor plan when i look outside now out on two st street which is an important street in the city of chicago what i see our broad expanses of asphalt i see sidewalks i see curbs i don't see a lot of pedestrians i see spaces that are dedicated almost entirely to automobiles and or ways of keep big pedestrian safe from automobiles looking ahead twenty years streets could look very differently from the way they do now not only will streets look different maddow sound different two thou even smell different because even just twenty or thirty years from now gaspowered cars could be a thing of the past a recent morgan stanley report predicted that by 2050 over one billion electric vehicles will be on the road if that doesn't shock you enough try thinking about it this way today electric vehicles make up one percent of global car sales by 2050 that number will rise to almost ninety percent so what's causing such a rapid shift in the auto industry ahmad effects will it have besides what we fill our cars way that the gas station what else will change what we even have gas stations so again if you go back andre deers was the last time you saw horse stable in the middle of your city these things used to be everywhere right but we.
"morgan stanley" Discussed on Morgan Stanley Ideas Podcast
"Is handling the estate of her deceased aunt in the old days are traditionally we would wait until the end of the year and most client would receive a paper statement for all of their financial assets and it would be easy to identify where all those assets were in this case she waited till the end of the year and didn't receive a whole bunch of annual statements and in fact only received one and she knew that her aunt had a large account out there so it took some digging some conversations with other family members where she finally did find this other account that had a couple of million dollars in it that client got lucky she was eventually able to find the money her aunt had left for her but digital assets can also exist in a paradoxical space shaw they exist forever but if you don't know about them it's like they don't exist a tool if i gave any one one piece of advice for playing their digital state i would say make a list of your accounts and passwords in understand what you own for example a climate on bitcoin and it could have tremendous monetary value but that client didn't share that they owned it bitcoin or had an account out there the beneficiaries would never find it it's possible that we might be living in a digital dark age the period of time in our digital lives where we'd figured out how to create digital things but we haven't really figured out how to save the hold onto digital things very well.
"morgan stanley" Discussed on Morgan Stanley Ideas Podcast
"Usual demographic that comes to mind when you think of pinterest that run with ashby acquired so many followers he carney has over one point six million that he began to get paid for promoting other people's photos and it turned into something of a business in some months he earns up to ten thousand dollars for sharing and promoting pieces of conduct the people ask him to promote so he's an online influence her and if we put on our traditional estate planning glasses we might look at a pinterest account and say that doesn't have much value to any one the point of the story is that this pinterest account has real financial value and that's something we need to be thinking about but let's not get too carried away most people social media accounts full squarely in the sentimental value category the photos we post on instagram all to be blunt worthless to a stranger but they may mean the wool to while family and friends so how do you pulse down those photos turns out there is more to think about the judge sharing a password i like to call this the one hundred thousand photo problem i have exactly one photograph of my grandfather in his twenties one photograph of him at that age that photograph has immeasurable value to me but if he had left me a pile of a hundred thousand photos i probably would not have taken the time to dig through there and find those one or two that are really special and so as we're thinking about our digital legacy and what we want to save and what we want to give to our heirs we should think about deleting a few things which is think about cure rating our collection so that we only leave what's meaningful as opposed to leaving a huge burden of stuff for our family to deal with so the one hundred thousand photo program is really about excess with digital photography anti quantity cameras attached to our phones when.
"morgan stanley" Discussed on Morgan Stanley Ideas Podcast
"Welcome to the morgan stanley ideas podcast by national tight today on the show what happens to your digital life off to you die beginning in an old existential on the show this week but we're going to be talking about death but an aspect of dying that you might not have thought much about your digital stays now regula analog estate planning is a pretty established practice at this point people know how to plan for the house in that car let 401 k but how about you'll pay paolo your online credit card bills today we're going to shine a light on the questions that are arising around digital assets off to you take you loss breath for instance what's the best way to pass on ten thousand photos from a family vacation is a viral social media account worth anything off to you die and how can the endless stream of content we've posted be used to form a meaningful memorial we'll be raising these questions and a bunch of all those along the way and comp promise any on says but we'll try to suggest them approaches to even begin rubbing your mind around the vexing questions of digital legacy but first let's hear from someone who was forced to think about this only after it was too late my father was he was a private man you didn't know how much you know assets they had he didn't share details about any of that aspect of his life that's michelle brought it puff all the pasta way suddenly on her parents sixtythird wedding anniversary he was eighty eight years old and when i say you know he died unexpectedly if it's kind of a strange thing to safe about an eight year old person but he didn't really have any health issues you know he wasn't in a hospital he hadn't been sick and even though michelle's father was old he was in such good health at the fao me hadn't focus much on estate planning so as michelle in her sister and the newly widowed mother sad together in their home and waited for the coroner michelle how to force well i may as well go into his office and see if we can find a will and when it opened his drawer that that was probably the moment that i said.
"morgan stanley" Discussed on Morgan Stanley Ideas Podcast
"But retail company nazis referring to it's called the wheel real it's a luxury clothing and accessories consignment website and so you say well what's so impact about that you're keeping products from going outside of the economy and keeping them are in circulation and that has a lot to do with just reducing carbon reducing amount of manufacturing that we need it's a good thing to create that circular economy another aspect of impact from that company is it's a woman entrepreneur it's no secret that women are underrepresented in the the ranks of venture backed ceos we really try to focus on the diversity of our management teams in our founders and we have about sixty percent of our portfolio right now is is run by women which is way way above the national average the real real made sense in nazis portfolio because of its positive attributes but sustainable investing didn't always work that way it used to be based on i investors who really wanted to exclude negative things from their investment portfolios today we're seeing a huge shift in investors who are thinking about it from a proactive perspective how can i invest in the solutions that's hillary uh be the cohead of morgan stanley's global sustainable finance grade she's been job for nearly a decade an over that time she's witnessed a pretty seismic shift in the field of sustainable investing henry recently worked for the client who cast about climate change may be a decade ago they would have just divest from fossil fuels but today the client proactively invested in companies that are changing the way we use energy what's prompting this change it's all about inflammation people have a lot more clarity on the impacts their investments may have whether that's positive or negative.
"morgan stanley" Discussed on Morgan Stanley Ideas Podcast
"Having people with many backgrounds on a team can actually lead to better preparation when groups are more diverse we do find that they actually engage in more careful effort full information processing in anticipation of meetings talked to people who are different so for example and jury decision making sam somers has done some research that has found that divers juries more carefully process racially relevant information if the jury is more racially diverse than when it's much on the real examples of corporations taking advantage of the benefits of diversity by hiring employees from unique professional uncalled native bought grounds i went to the naval academy in annapolis and after graduation i served as a service warfare officer for five years i was on a ship and then i did a a come nonconventional security tour i spent most of my time between those two roles in the northern arabian gulf doing um antipiracy mission security missions training iraqi marines and and navy sailors that's meakin bennett vice president of institutional operations at morgan stanley and this is no opponent amelie before this uh i was working at the united states drug enforcement administration as their general counsel in the new york office noah is now lawyer at morgan stanley and ask the simon bound the global director of research at morgan stanley well he certainly didn't start off in research i was what was called a clearance diving officer in the royal navy so we did minefield clearance in practical terms what does that means were ninety one we did the clearance of the beaches off the coast of kuwait so it it underwater on ed or explosives ordinance disposal and that was hard on the at times interesting um but incredibly rewarding work when it comes to hiring simon values people with us set of skills and perspectives looking.
"morgan stanley" Discussed on Morgan Stanley Ideas Podcast
"One discipline the myself but i was disappointed alves an educator so when i went to my bankruptcy solomos takes that i made i saw why spent more money at asao well wasted a ton of money so i kinda wanna must story to be kind of a a a learning tool for a lot of guys and a couple of years ago i you hit with a unique opportunity to meet drew hawkins from morgan stanley my name is drew hawkins and the managing director at morgan stanley and on the head of the global sports and entertainment division drouin antwan travel the country together talking to athletes at all different levels of fat careers historically when these financial education programmes have taken place you often would see a lot of focus on hitting on specific financial terms and on financial products and you know these detailed complicated strategies and for us we wanted to be able to take a step back let's talk to these individuals were they are whether it's at the collegiate level in things that they need to be focused on they're having a different conversation then to rookie players because they're just entering into the league and looking at league minimums or you know the value of what it is that they babymaking when they were signed on and then a differentiated conversation for the more veteran players that may be on that second contractor that ferrick contract or thinking about what the next steps are going to be related to life after the sport that they are in optic the biggest thing no for gaza spicy come a league now one thing i always try to tell the gaza on amman roads we make generational left money um well you make millions of dollars that generates race china western with money.