Aaron Back

speaker

279 appearances 6 recordings 1 series first heard Jul 2018 last heard Jul 2019

Aaron Back’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Bank Earnings: Look Deeper for Warning Signs · 16 Jan 2019 podcast

So it is a bellwether for the industry.

And that kind of confirms data we've seen from the housing market that housing sales haven't been doing great.

Housing prices aren't doing great, particularly in markets like the Northeast, where changes in the tax code have made it more expensive to own a home.

So that's another, I think, somewhat worrying sign for the economy in 2019 is that the housing market is not doing great.

Yeah, no one is too worried about the bank balance sheets at this stage.

Basically, what we're seeing is really just almost a return to normal from what have been historically low levels of defaults.

And of course, you know, it bears saying that compared to the financial crisis, banks today have much higher levels of capital set aside.

Their balance sheets are much less risky by design, you know, due to regulations and decisions by the banks themselves.

So we're not looking at a disaster for the banks.

I think, you know, this is really just what these banks are saying mean for the broader economy is what we should think about today.

And it kind of indicates that the best times may be behind us.

My pleasure.

WSJ Your Money Briefing · Goldman Sachs, Morgan Stanley: Stock Growth to Come · 17 Oct 2018 podcast

Yeah, they both beat estimates by a pretty healthy margin.

Both had profits up about 20% from a year earlier.

Both their stocks are up pretty substantially today.

The big surprise was that they made a lot of money on equity IPOs.

And apparently, there were a lot of Chinese companies listing in both Hong Kong and the US.

And they got a big slice of that action.

And that was one reason why they outperformed.

Yeah, so their reported M&A revenue in the quarter, the quarter through September, was not that great.

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