NEW YORK: David Burt helped two of the protagonists of Michael Lewis’ book The Big Short bet against the US mortgage market in the run-up to the 2008 financial crisis. Now he’s betting against the market again, but this time, the risk is not from underwater subprime mortgages, it’s from homes …
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Morgan Stanley widens gap as banks’ wealth units add US$5 trillion
MORGAN Stanley’s record quarter in wealth management capped a banner period for one of Wall Street’s most-profitable businesses.