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…
