Yesterday I released our quarterly opinion and valuation update for Morgan Stanley. They had a horrible quarter, and we feel the mainstream financial media failed to illustrate just how bad the quarter actually was. In our attempt to demonstrate Morgan’s performance to the public I included some excerpts from the subscription report, nhttp://boombustblog.com/reggie-middleton/2010/11/05/an-explanation-of-the-pitfalls-of-relying-on-accounting-earnings-in-analyzing-the-investment-banks-starting-with-morgan-stanley/
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