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Asset management and fund structuring boutique

Do not jump to conclusions

Oct 26, 2023

2023 so far has been a difficult year for the investors in 4 of the most prominent US Banks. However, the overall picture is much more diverse and complex than these 4 graphs would suggest for several reasons. Firstly, both Morgan Stanley and Goldman Sachs are heavily exposed to investment banking where we are seeing a slowdown. Secondly, the share price of the winner JP Morgan who literally took it all in the US regional banking crisis is up 4.7% this year. And than there are the European banks who had a good year in terms of share price performance with MSCI Europe Banks index up 14.4% this year. We need stay selective in banks and do our fundamental homework before jumping to conclusions.

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