Morgan Stanley CEO: No Get Rich Quick Scheme with Facebook’s Stock Unless You Work at Facebook

Morgan Stanley CEO James Gorman defended his firms handling of the Facebook IPO and said investors or traders were naive to think they could get rich off a Facebook stock surge once it went public. He added, the only people who deserve to get rich off the IPO are Morgan Stanley and the people who created Facebook. He went on: This IPO wasn't for the crazy and stupid investors who jump on IPOs and expect to never work again. It's like those people who buy lottery tickets every single day thinking their going to win someday. Just because there's an

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Tagged facebook ipo, james gorman, morgan stanley, naive

Cramer Said Buy Morgan Stanely to Play Facebook IPO

On par with Dick Bove's call on Morgan Stanley, when Bove said he'd buy it aggressively so he could buy a house in Spain, Jim Cramer said Morgan Stanley should be bought on the back of the Facebook IPO, saying it was "dirt cheap". That was on February 2nd, when Morgan Stanley (MS) was trading around $19.66 a share, it's now trading for around $13.46 a share. I guess it's even cheaper these days. And we all know how good that Facebook IPO was for everyone. Here's the call, notice the skepticism on the faces of his CNBC colleagues,

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Tagged dick bove, dirt cheap, facebook ipo, jim cramer, morgan stanley

The Most Interesting Financial Reporter in the World: Alistair Barr

Alistair Barr doesn't wear suits or ties but polo shirts. Why should he have to wear a tie? And yes, that's chest hair climbing out of his shirt on TV. He doesn't cut his hair because it doesn't grow. It's been like that since he was born. Yes, he has an accent because he's not from your world. Yes, that's San Francisco's Golden Gate bridge in the background which he has sailed under and climbed to the top off because he had a day off. He once saved a surfer from a shark by hypnotizing it. He drinks absinthe

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Tagged Alistair Barr, facebook ipo, morgan stanley, most interesting man man in the world, reuters

I Guess Dick Bove’s Beach House in Spain is On Hold

About a month ago, ubiquitous banking analyst (media shy) Dick Bove told Bloomberg's Trish Regan that buying Morgan Stanley's stock will enable you to buy that house on the coast of Spain you've always dreamed about. Well, since Bove made that call the stock has tumbled, going from around $20 a share to $16, a nice 25% drop. This is what Bove said:

“I think Morgan Stanley will allow you to buy that house on the coast of Spain. I think that stock is so cheap right now, it’s overwhelming. It should be bought and bought very aggressively, right now.”

Here's

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Tagged bloomberg, dick bove, house on the coast of spain, morgan stanley, trish regan

Nonsense: These People Represent the True Morgan Stanley

In light of the recent events surrounding a few Morgan Stanley brokers and executives, Morgan Stanley would like you to know that these two gentlemen, the executive who allegedly stabbed a cab driver and the broker who may or may not have been helping a madam set up an online hooker website, don't reflect the balance of the employees at Morgan Stanley. Here's a quick run down of a few Morgan Stanley employees, just a random sample mind you, and not a list of the greatest employees, but just a selection of employees who truly embody the

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Tagged morgan stanley, mostly fiction, nonsense, satire, the true morgan stanley

Goldman Sachs Loves David Walker

While Morgan Stanley is feeling the pain from all this brothel talk, over at Goldman Sachs, they're laughing their asses off. Lloyd Blankfein spit out his coffee when he heard the news about the Morgan Stanley broker and the madam. Said broker, David Walker, says he was just "friends" with the “Upper East Side madam” Anna Gristina, but he's been put on administrative leave from Morgan Stanley until things are more clear on his exact role. Meanwhile, over at Goldman Sachs, they're putting up posters of the man in the hallways to honor him. It's been said that

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Tagged Anna Gristina, david walker, goldman sachs lloyd blankfein, madam, morgan stanley, nonsense

The Facebook Ticker Will Be?

Well, ok, the Facebook IPO is finally here. At least that's the word on the street. The Wall Street Journal is saying the Facebook IPO could be announced as early as Wednesday, with Morgan Stanley and Goldman Sachs doing the offering. And with a valuation of, wait for it, $100-$75 billion. Good grief it's become an old and tiresome story - let's get this thing over with already. You know, the whole ramp up and then the eventual collapse. Yes, it will happen again. It's not like Facebook sells iPhones or has mastered search like Google. I

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Tagged facebook ipo, Goldman Sachs, morgan stanley, ticker

Jim Cramer’s Rant on Morgan Stanley

Jim Cramer, ever sensitive after his Bear Stearns call in 2008, says Morgan Stanley, despite the stocks incredible plunge, is stronger than ever. Why is it going down then? Well, there's the crisis in Europe for one. But if there was no crisis in Europe then the stock would be a huge buy. That seems like one big IF Jimmy C.

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Tagged jim cramer, morgan stanley