Stephen E. Arnold: Global Banks – We Don’t Need No Stinkin’ Research!

Commerce, Commercial Intelligence, Corruption, Ineptitude
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Stephen E. Arnold

Financial Research: Rumblings Get Louder

Regulations are having causing small tremors in the high altitude research business. I read “U.S. Asset Managers Shake Up Equity research as Banks Cut Back.” The write up offered several pieces of intelligence which might be considered “real” news.

I highlighted this headache inducing statement for the providers of high end research:

Major global investment banks slashed their equity research budgets from a peak of $8.2 billion in 2008 to $3.4 billion in 2017, according to Frost Consulting. McKinsey projects the top 10 banks will cut those budgets by another 30 percent in the near term…

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