Morgan Stanley (MS): The Good, the Bad, and the Ugly from MS's Earnings Call
2025.01.20 15:51 clark_k3nt Morgan Stanley (MS): The Good, the Bad, and the Ugly from MS's Earnings Call
- January 16, 2025
Good
- Record Revenues and EPS: The firm reported record revenues of $16.2 billion for the fourth quarter and the highest EPS in over 15 years, demonstrating strong financial performance.
- Strong Full-Year Performance: For 2024, Morgan Stanley achieved a return on tangible common equity (ROTCE) of 18.8% and full-year EPS of $7.95, reflecting consistent earnings across the firm.
- Wealth Management Growth: The wealth management segment saw record revenues, a pre-tax profit of $7.7 billion, and a reported margin of 27.2%, underscoring strong client acquisition and asset growth strategies.
- Institutional Securities Performance: The segment delivered strong annual results with record revenues in equity and fixed income markets, highlighting the firm's global footprint and client share capture.
- Dividend Increase: The firm raised its quarterly dividend by $0.075 for the third consecutive year, indicating confidence in its financial position and commitment to returning capital to shareholders.
- Investment in Growth Areas: Continued investments in talent, technology, and infrastructure, particularly in secular growth areas like customization and alternatives, are expected to support future growth.
- Real Estate Charges: The firm incurred $62 million in real estate charges during 2024, which impacted the full-year EPS by $0.03.
- Loan Loss Provisions: Institutional Securities Group (ISG) provisions for credit losses were $202 million for the full year, with $78 million in the fourth quarter, indicating some credit quality concerns.
- Transactional Revenue Volatility: Despite increased transactional revenues, there was an acknowledgment of potential volatility, especially as market conditions fluctuate.
- Underdeveloped Integration of the Bank: The integration of the bank with wealth management services is not yet fully realized, indicating potential operational inefficiencies or missed opportunities in deposit growth and service offerings.
- AML/BSA Compliance Concerns: Questions were raised about the firm's compliance with anti-money laundering (AML) and Bank Secrecy Act (BSA) standards, which could pose regulatory challenges or limit growth in international wealth management.
- Geopolitical and Macroeconomic Uncertainty: Continued macroeconomic and geopolitical uncertainties present inherent risks to business performance and strategic goals, such as the potential impact on M&A activity and client confidence.
- Q4 2024 Revenue: $16.2 billion
- Full Year 2024 Revenue: $61.8 billion
- Q4 2024 EPS: $2.22
- Full Year 2024 EPS: $7.95
- Full Year 2024 Return on Tangible Common Equity (ROTCE): 18.8%
- Q4 2024 ROTCE: 20.2%
- Full Year 2024 Efficiency Ratio: 71.1%
- Real Estate Charges 2024: $62 million
- Institutional Securities Revenue (Full Year 2024): $28.1 billion
- Equity Revenue (Full Year 2024): $12.2 billion
- Fixed Income Revenue (Full Year 2024): $8.4 billion
- Wealth Management Revenue (Full Year 2024): $28.4 billion
- Wealth Management Pre-Tax Profit (Full Year 2024): $7.7 billion
- Wealth Management Margin (Full Year 2024): 27.2%
- Investment Management Revenue (Full Year 2024): $5.9 billion
- Total Client Assets: $7.9 trillion
- Net New Assets (Full Year 2024): $252 billion
- Fee-Based Flows (Full Year 2024): $123 billion
- Loan Balances: $160 billion
- Total Deposits: $370 billion
- Active E*TRADE Traders: Higher than 2022 levels
- Assets Under Management (AUM) at Year-End 2024: $1.7 trillion
- Long-Term Net Inflows (Q4 2024): $4.3 billion
- Parametric Platform Assets: $575 billion
- Alternatives Investable Assets: $240 billion
- Liquidity and Overlay Services Inflows: $67 billion
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2025.01.20 15:51 3N1s2 Cake day postu beyler
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2025.01.20 15:51 Thelowendshredder ICYMI here are all the recently announced 2025 Solar Circuit tour dates!
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2025.01.20 15:51 mordeo69 So my account got shadowbanned in under 24 hours from creating it, and now I just want to quit and never use online dating ever again. But I can't delete my account. How do I fix this?
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2025.01.20 15:51 BurdAssassin756 I love watching scary stuff
It spooks me
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2025.01.20 15:51 Innsmouth_Resident From what level does it get doable defeating the Phylakes? Is there a good strategy?
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2025.01.20 15:51 Juyure Kuronami is back!
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2025.01.20 15:51 zipstie The YT Community
Does anyone remember a discord server called The YTC or The YT Community?? I think it had a blue hexagon logo with like 4k members. I remember being in it years ago and have great memories of it but can't find it now.
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2025.01.20 15:51 Character_Strain_836 God Pack w/ Friend Code
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2025.01.20 15:51 No-Education1196 Utah transfer LB Sione Fotu has committed to Houston
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2025.01.20 15:51 Laylas_Magical_Tarot LOVE is in the AIR! It’s just around the corner… Get the ANSWERS to ALL your VALENTINE WISHES!
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2025.01.20 15:51 shiwoneek I can't get someone off my mind!
You know how some people just stick in your mind? That’s Casey (name changed) for me. I met her at a camp where she was a volunteer. We’re in our late teens, with about a two-year age gap.
The first time I noticed her was during breakfast. She was standing at our table, eating and helping younger kids. I thought she was pretty but didn’t pay much attention—maybe some kid’s aunt or something. After finishing my meal, I offered her my seat out of politeness. She declined, and I didn’t think much of it until I clumsily dropped my glass on the way out. Awkward.
Later that day, I decided to talk to her. I wanted to clear up any impression she might have had that I was hitting on her earlier, which I wasn’t. We chatted about school and got to know each other, turns out we’re from the same city and she's around my age lol. She even introduced me to a few people my age, thinking I hadn’t made friends yet.
She’s outgoing and friendly, while I’m introverted but confident once I’m comfortable. At one point, while serving food, I accidentally spilled some milk on her hand. That’s when I realized I had a crush. I walked her to her room once, and when she was leaving, I had an anxiety attack so bad I had to retreat to my room. But later, I bumped into her; she hugged me goodbye. That night, she joined my group’s chatter (she's friends with a few members of the group) and hugged me goodbye again—I noticed I was the only one getting that treatment, not even girl friends got that.
A week after the camp, I followed her on Instagram and started a conversation. She replied enthusiastically, laughed at my jokes, but kept things casual and wasn't building up the conversation on her end. I understood—it’s tricky to befriend someone who might have a crush on you especially when you're (Casey, just in case) the older one in the picture.
I understand her perspective. I wouldn’t look at someone younger that way either and would probably keep my distance if I sensed feelings involved especially, in a volunteer-participant relationship. To be honest, most of our interactions happened when I was feeling low, radiating under confidence and anxiety. It wasn’t constant—just a few moments here and there—but she somehow always seemed to be around and to make matters worse the conversations were one on one so all the focus was one me! That likely didn’t leave the best impression. It also explains the hugs; she’s good with people, has solid emotional intelligence, and probably noticed that subtle gloominess in me.
It’s surprising how emotionally attached I feel after knowing someone for just four days. I’ve had crushes and situationships before, but I’ve never felt this kind of connection. Even my parents pointed out that I looked genuinely happy in photos with her. Normally, I have a no-nonsense attitude and stay emotionally distant from everyone—except my parents. In the past, I’ve been in situationships just to fill the loneliness my younger self felt. I didn’t care much for the people involved, only the idea of affection. But what I feel for Casey is different.
She’s been living in my mind rent-free for 25 days since the camp. The likely reality is that she probably didn’t think much of me and was just being kind. There’s a chance I might see her again, as I’ve been offered opportunities to volunteer with the organization. But us meeting again is not guaranteed.
Honestly, this whole situation feels absurd.
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2025.01.20 15:51 AnorocFote Hyper Backup to S3 Minio Server Error
 | Does someone have a clue, when i add the Custom S3 i get the following error: https://preview.redd.it/tfqpbwsw66ee1.png?width=620&format=png&auto=webp&s=5bdaabb11710fc71dbefc3f9f6eb05680b17646b I can see the bucket and when i click it i get this error above. I have tried this S3 server with a QNAP and theres its working fine. https://preview.redd.it/c8jb39y476ee1.png?width=646&format=png&auto=webp&s=de2ed67ca6ff7598411860c037c4ea8fce19fb6a Thanks submitted by AnorocFote to synology [link] [comments] |
2025.01.20 15:51 TheWayToBeauty ☕🌞 I want more joe, please! 🌞☕
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2025.01.20 15:51 SomeRandom_User42 Describe an ncs song poorly
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2025.01.20 15:51 sciencemeafuture Considering ADHD medication, is it against Buddhist practices?
Is there anyone here with ADHD? Do you manage to practice while on stimulant medication and does that affect your mental state? I know there isn't anything against medication, Im only wondering since stimulants are quite strong and feel like being in a different mental state sometimes (albeit a calmer one), whether they can hinder practices and enlightenment.
Ive been on and off them for a while and they help me, but Im worried... Is there anyone who was on meds and then managed to taper off thanks to meditational practices?
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2025.01.20 15:51 axial1234YT ASUS G14 Zephyrus GA401l blown part, on what i think is the power rail, identification
 | Hey all! I got this pc from a friend that he had puked on (gross i know) and it has what i think is a blown mosfet on the power rail, i think, attached is a picture, i am trying to find the part so i can replace it and try and fix it, it says “15, 099RF, E on it. If anyone can point me in the right direction to find the part that would be greatly appreciated! submitted by axial1234YT to AskElectronics [link] [comments] |
2025.01.20 15:51 TopEntrepreneur8451 Weird thoughts
I felt trapped in a deep hole. Every attempt to climb out ended with me being shoved or dragged back down. Now, finally free, I sometimes find myself strangely drawn back to the familiar darkness, despite the pain it caused.
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2025.01.20 15:51 Acceptable_Map_4398 Rx 6800xt not booting vga light on
Woke up and went to boot my pc and won't post just shows no display vga light on, its never done it before and been flawless any help
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2025.01.20 15:51 clueless_wanderer90 PG suggestions
New in surat, need affordable pg with food facility, please recommend some if y'all know.
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2025.01.20 15:51 spiderk How to handle fiancée's OCD? Moving in with her
To give some context, my girlfriend now fiancée is doing her medical residency in another city, I work in software dev and WFH, and I've committed to moving in with her until she finishes and move back to our home city.
She is an extreme clean neat freak, and I am the polar opposite. Her apartment is beautiful, it looks like it's out of a magazine, spotless and everything is perfectly placed and has some aesthetic. I have had a hard time adjusting to living with her full time as the things she demands and requires a living space to be, seem a bit over the edge. To give examples, every single surface of every single room must not only look aesthetic, but have no items on them, be exactly how she left it, and always be dust free. She will wipe down kitchen counters 3-4 times a day and get extremely irritated if anything is left out, not the way she left it/ expects it. This can apply to things that belong to me like deodorant and cologne that I use daily on bathroom counters, pills that I take daily on kitchen counter with my food, my personal items on nightstand, or my laptop and work stuff on the desk. Everything must be put away out of sight. Everything must be cleaned immediately after use, no dishes in the sink, bed made immediately after waking up, wipe down surface after using the bathroom, etc....
Since I havent moved in full time yet, I come with a suitcase, and i usually leave the suitcase in the corner of the bedroom open so I can use it as a dresser to get new clothes from each day. She wants it in a closet, but I dont have a real place to put these clothes so it would mean taking the suitcase out and putting it away to just access my clothes which seems insane.
Don't get me wrong, I think that a lot of these things are good habits like just being generally clean, not leaving dishes to accumulate, etc... but it just feels a bit too far to always have to do in the moment.
I feel that if I am using it every single day, why should I need to hide it in a drawer out of sight to bring it out and put it away again after every single time? I have asked her that if she wants me to do that, then to give me place/room inside a cupboard or drawer to store these things, but most of the time they are filled with her things and there isn't room for my stuff. It gives me the impression that I don't really live here, I am just here as a guest that needs to have their belongings hidden away instead of actually living here with her.
It also gives me stress that every single action that I need to do, there needs to be a compensating cleaning/ putting away action that it's just overwhelming to have to do all the time. This makes it not feel like I am at home, but more so at her home and makes it hard to call this my own living space even though she wants me to live here.
We have talked about it a few times and she is aware , but she will acknowledge it, change a bit for a day, and revert back to factory settings of OCD the next day.
As well, she has a few OCD ticks: 1) where she will pick scratch down the side of her thumb with her index finger nail to the point that it breaks skin and bleeds, forms a callus , and it becomes a compulsion to keep doing it, sometimes when she is stressed, other times just to pass the time. 2) Every night before bed, she must go to her alarms, and hear the sound go off to test it 3 times so she is sure that it will go off. I can't explain why she does this, maybe she slept through an alarm once. I've explained to her that a recurring alarm doesnt need to be tested every day to make sure it's gonna go off, if it worked the day before, and the config is correct, it will go off exactly the same way tomorrow. All of the above just builds up the anxiety around everyday actions that I feel like I am better when i just lock myself in the office space , and stay there so I don't have to compensate clean everything I touch.
This may seem like a long rant, I love my girlfriend/fiancée, and want to work with her and live with her, but these things seem like huge barriers to making this space feel like a home to me . What can I do to help her, and work with her ? And what are things that maybe I am overreacting about and should be changing myself? I need some outside perspective on this.
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2025.01.20 15:51 HuzbandMaterial How to Marry anyone you like
Prefacing this by saying that I am not married, I do gym to keep myself fit, strong and healthy but certainly don’t have the Hollywood chiseled body, yet I have never had a problem with attracting the best marriage potentials by physical looks and by character. And I will show you how
- Start focusing on becoming the best version of yourself as a Muslim: Leave corn 🌽 and self pleasure. Strengthen your relationship with Allah by praying consistently, reciting Qur’an, and engaging in dhikr. A strong connection with Allah brings barakah into all areas of your life, including marriage. Emphasis on leaving corn because people can tell by your body language and your aura that you are someone that engages in haram behind shut doors. Your iman radiates like a dome of aura which muslims can see and feel and this draws believers to you.
- Develop good character: as the Prophet ﷺ said, “The most complete of believers in faith are those with the best character.” (Tirmidhi, Sahih). Work on kindness, patience, and honesty, never backbite and become someone that anyone could trust as these are qualities that naturally draw others to you. You can learn a lot about building good character by reading seerah of the prophets and companions
- Pursue self-improvement: by enhancing your skills, education, and emotional intelligence. Take care of your physical health and appearance as part of self-discipline, hygiene and confidence. These are not superficial, but part of presenting yourself well and excelling as a muslim.
- Make intentional dua: Ask Allah for an attractive and righteous spouse who will bring you closer to Him. Be consistent and sincere in your duas, trusting in His wisdom.
Marriage isn’t just about finding the right person; it’s about becoming the kind of person the one you’re seeking would want to marry. An easy way to measure yourself is to think if you were in the opposite gender’s position, would you marry yourself? Just work hard on self-development and trust Allah’s plan.
What’s something you’ve done to grow while waiting for the right person? Let’s share and benefit from one another!
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2025.01.20 15:51 160295 25 dice 🎲 20/01/2025
https://mply.io/hHIBnjw_sJM
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2025.01.20 15:51 alvitofr What axis do you struggle with the most when flying?
(Feel free to elaborate why)
For me personally is the Yaw. I sometimes still struggle to complete turns before crashing because my brain just forgets that a great part of the turn is made with the left stick. If anybody has any tip on how to improve it I'll gladly appreciate it!
View Poll
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2025.01.20 15:51 AngryGulo85 My spin on the White Rabbit—down the rabbit hole we go! 🐇
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