Banking, finance, and taxes
Ken Heebner Endorses Goldman Sachs and Morgan Stanley (CGMFX, GS, MS)
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Ken Heebner of CGM Funds is often a guest on CNBC after the FOMC decision on rates. His sphere of great influence has withered as the CGM Focus Fund (CGMFX) has been hammered. Last year the fund’s price was briefly at $60.00 and now the fund is around $24.00. But Heebner is still followed by many traders and investors and he did give two stocks he likes. He said Goldman Sachs Group Inc. (NYSE: GS) and Morgan Stanley (NYSE: MS) would be the beneficiaries of the consolidation of brokerage firms.
These two firms are no longer TARP firms, so they are able to pay what they want and what they feel they should to recruit talent as it comes available. Unfortunately, there were no great revelations here today.
Jon C. Ogg
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