If another financial crisis were to strike, like the one in 2008, Morgan Stanley will be the first to go --that's the conventional wisdom on Wall Street. So says, Charlie Bobrinskoy, vice-chairman of Ariel Investments in an interview on CNBC's Fast Money. “That’s why whenever there’s trouble in Europe, Morgan seems to fall the most,” he says.
Hedge fund manager Anthony Scaramucci confirms the thesis; Scaramucci says it's the prevailing reason why so many hedgies have either shorted Morgan Stanley outright or paired it with a long position in Goldman Sachs .
“There is a theory that you always pick the next weakest link to go,” says Bobrinskoy as he echoes Scaramucci. "First Bear Stearns was weakest then Lehman Brothers was weakest. Now, the conventional wisdom is that if something bad happens the weakest sister would be Morgan Stanley…”
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