
NYSE:MS
To him this is the cheapest U.S. Bank. Trading for about half of its tangible book value. Just got some fantastic news. Their largest growing business is their wealth management business. On a valuation battle, Citigroup wanted a much higher price but they wanted to pay a much lower price. They won and are getting a phenomenal deal on a multi-billion-dollar purchase. This will propel this company forward.
Pure investment bank. Cheap stock, trading at book value. Good opportunity for 3-5 years of hold.