Monday, September 10, 2012

"Goldman Research Analysts Suggest That Morgan Stanley Should Get Smaller And/Or Better At Bond Trading" (MS)

From DealBrealer:
Wall Street banks’ research on their competitors is not only a window into analysts’ anxieties about their own banks’ prospects, but also a ripe area for conflicts between investment advice and industry advocacy. The days of analysts writing research reports that were like “Facebook should really do a huge equity offering and hire my bank as sole underwriter,” or whatever, are mostly behind us, but when banks write about their industry you might wonder if they’re giving dispassionate advice or pushing their employer’s interests. And when they write about their competitors it must be tempting to be a bit underminey....MORE 
Earlier today the WSJ's Deal Journal appeared to be channeling DealBreaker's headline style:
Bernstein Analysts Have 200 Pages of Suggestions for P&G