, Columnist
Morgan Stanley Marks Office Space to Market
Also AMC calls, short squeezes, celebrity SPACs, dentists and Bitcoin.
I could not possibly have enjoyed this Bloomberg profile of Morgan Stanley co-president Ted Pick more. It is hard to pick a favorite bit but I suppose I have to go with this one, from Pick’s time as head of equities:
All investment-bank management should work like that. All the walls should be on sliding tracks, and each morning you come in and see how you’re doing by how big your office is.1 Bring in a big deal and you can fit a couch. Lose a big client and there’s no room for your family photos. Keep losing money for a while and eventually you will be crushed in your office like that “Star Wars” trash compactor scene.