The rate increases have been going on for quite some time, and it really hasn't had an impact. And in the case of Goldman, you still have sustainable core revenues up very strong.
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It's in last place with no real assets to improve their position. Discover desperately needs to have an improved value proposition for the cardholders. That's where it all begins.David Trone
Full-service firms are awash in capital and looking at means of effective deployment. Over the last few weeks, media reports have been fuller than normal with buzz of these firms exploring large deals.
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It's not likely a firm would double its revenue in a sequential comparison. One should assume that some of that's proprietary trading.
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Financially, the deal seems to be of little impact. We estimate ultimate earnings impact as flattish for Merrill over the next few years.
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Our estimate of 340 million in advisory revenue easily places the quarter as the highest for the firm post-bubble, and should move 2005 advisory revenues about 28 over the prior year.
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Asset management acquisitions are safer, in our view, given the predictability of earnings, although they will likely be more expensive than banks or consumer finance companies.
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Based on Topics: Time QuotesWhat it lies in our power to do, it lies in our power not to do.
Aristotle
When a man's stomach is full it makes no difference whether he is rich or poor.
Euripides
The lawyer's truth is not Truth, but consistency or a consistent expediency.
Henry David Thoreau