The result of his reactive behavior? Here's what MS disclosed on this front in their 10Q this week: "Subsequent to August 31, 2008, the company’s prime brokerage business experienced significant outflows as clients withdrew some of their cash balances and reallocated positions. These outflows will negatively impact prime brokerage’s operating results in Q4 of fiscal 2008."
- Our price target for MS moved down a penny from Thursday. We're now at $9.02/share.