[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$fOK-FiZ_pbGqjPm8W9rFxk9ir5BjJGwLQoFuW21oSuwg":3,"$fduVRinzn7S714do0jr0vw_Iv0AWKwjTwUY2PDMNKAqQ":12},{"author":4,"tags":11},{"author_id":5,"author_name":6,"author_name_first_letter":7,"article_count":8,"bio":9,"short_bio":9,"bio_jsonld":9,"slug":10,"image_url":9},162824,"Guy Moszkowski","G",18,null,"guy-moszkowski",[],{"quotes":13,"pagination":126},[14,27,38,49,60,71,82,93,104,115],{"id":15,"quote_text":16,"author_id":5,"source_id":17,"has_image":18,"author":19,"source":20,"quote_tag":21,"commentary":9},2009727,"I am not a big proponent of the diversified model. It is extremely hard to manage, and I just think there is a lot of value to be had from focusing on a few things really well. The turnaround process at Morgan Stanley will take some time.",4,false,{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[22],{"id":23,"tag":24},4997055,{"id":25,"tag_name":26},26834,"extremely",{"id":28,"quote_text":29,"author_id":5,"source_id":17,"has_image":18,"author":30,"source":31,"quote_tag":32,"commentary":9},2009723,"In terms of investment banking, in terms of capital markets, in terms of investment management, really everything was very positive. Their outlook statement was also quite positive: their backlogs are up compared to where they were last year and they expect to be able to continue to pick up market share.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[33],{"id":34,"tag":35},4997050,{"id":36,"tag_name":37},6571,"capital",{"id":39,"quote_text":40,"author_id":5,"source_id":17,"has_image":18,"author":41,"source":42,"quote_tag":43,"commentary":9},2009718,"The U.S. origination business may be slowing while it is growing in other markets.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[44],{"id":45,"tag":46},4997046,{"id":47,"tag_name":48},71,"business",{"id":50,"quote_text":51,"author_id":5,"source_id":17,"has_image":18,"author":52,"source":53,"quote_tag":54,"commentary":9},2009708,"Asset management remains the highest quality revenue stream and the highest return-on-equity revenue stream in the financial-services business.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[55],{"id":56,"tag":57},4997038,{"id":58,"tag_name":59},4550,"asset",{"id":61,"quote_text":62,"author_id":5,"source_id":17,"has_image":18,"author":63,"source":64,"quote_tag":65,"commentary":9},2009702,"They really have built a very impressive investment-banking capability. They won't always be No.1, but they clearly have been effective in merging their investment and commercial banks.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[66],{"id":67,"tag":68},4997028,{"id":69,"tag_name":70},51720,"built",{"id":72,"quote_text":73,"author_id":5,"source_id":17,"has_image":18,"author":74,"source":75,"quote_tag":76,"commentary":9},2009693,"The miss appears to be weakness in the trading portion of the Investment Bank unit, a frequent culprit due to its excessive volatility versus peers.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[77],{"id":78,"tag":79},4997021,{"id":80,"tag_name":81},97489,"appears",{"id":83,"quote_text":84,"author_id":5,"source_id":17,"has_image":18,"author":85,"source":86,"quote_tag":87,"commentary":9},2009686,"Strategically, it's been very, very difficult for PaineWebber to gain or maintain share in anything other than its main retail business, ... What they probably hope is by getting together with a more global firm that they can turn that around.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[88],{"id":89,"tag":90},4997013,{"id":91,"tag_name":92},2356,"difficult",{"id":94,"quote_text":95,"author_id":5,"source_id":17,"has_image":18,"author":96,"source":97,"quote_tag":98,"commentary":9},2009680,"As this problem is unlikely to resolve itself quickly, we remain concerned that 2006 forecasts could be too aggressive.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[99],{"id":100,"tag":101},4997007,{"id":102,"tag_name":103},8265,"concerned",{"id":105,"quote_text":106,"author_id":5,"source_id":17,"has_image":18,"author":107,"source":108,"quote_tag":109,"commentary":9},2009666,"The recent moves to eliminate the worst-performing 10 percent of brokers and rein in the training program are a good start to improving margins. But these are just the first steps.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[110],{"id":111,"tag":112},4996994,{"id":113,"tag_name":114},6873,"eliminate",{"id":116,"quote_text":117,"author_id":5,"source_id":17,"has_image":18,"author":118,"source":119,"quote_tag":120,"commentary":9},2009655,"To think they're immune would be very imprudent, and I'm sure they'd be the first to agree with me on that. But from everything I can infer, the second quarter is starting out just as strong as the first, and they manage their risk very well. Earnings growth could contract quite a bit if things get bad, but they're well protected from severe loss in most any market environment.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[121],{"id":122,"tag":123},4996980,{"id":124,"tag_name":125},16851,"agree",{"currentPage":127,"totalPages":128,"totalItems":8,"itemsPerPage":129},1,2,10]