All in all, a solid quarter, but with upside coming from expense control versus revenue upside, investors may be disappointed with these results, particularly in relation to peers,
More Quotes from Michael Hecht:
The company has made significant investments to diversify its trading business, which should pay off.Michael Hecht
Given the company's prior accounting and regulatory issues, this is likely to have a meaningful negative impact on the stock today.
Michael Hecht
This is an exciting time, a spectacular opportunity,
Michael Hecht
After five years of 20 percent growth, fixed income trading is unlikely to continue at that pace.
Michael Hecht
The performance in global clearing was the only real negative we can point to this quarter as balance growth has clearly slowed here. But we also suspect that continued pressure on commission rates played a role here as well.
Michael Hecht
We are more optimistic about growth recovery, and have taken a fresh 5-year look at our earnings forecast for the company.
Michael Hecht
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