Andre Iguodala: Then you start seeing, you know, your track record start to speak for itself. These top VC firms have been doing it for the longest, you know. It's been closed off to us but now you're starting to figure out your purpose. And my purpose is to kick down that door and bring my people with me and get in on this action that we haven’t had access to ever.

Carla Harris: On this episode of Access and Opportunity, we welcome investor Andre Iguodala, venture partner at the Catalyst Fund. Most famously known as a three-time NBA champion, Andre has skillfully leveraged his success in the league to build a prominent career investing in the technology sector. His work with the Catalyst Fund focuses on supporting startups with founders from diverse, underfunded backgrounds. In this episode, Andre takes us back to how he got his start investing, the importance of surrounding yourself with smart experienced people, and how his work with the Catalyst Fund is helping...

Explore our 1-minute investment insights videos, in this on-going series, from our firm’s leading thinkers. Discover current investment trends and topics like green bonds, active investment, monetizing small businesses, cybercrime and more.

We created free lesson plans featuring women in tech for teachers to use wherever they fit into the school day—from math to history to computer science. Using these lesson plans, students can explore the hidden history of women in tech, and uncover how to think like a computer scientist.

For the third year, Fast Company collaborated with Accenture to score every application we received and identify more than 100 organizations, leaders, and teams that have created cultures of innovation in 2021—no easy task given that many employees have continued to work remotely this year. The companies on the Best Workplaces for Innovators found ways to collaborate and invent despite the challenges posed by the pandemic, and in some cases applied their innovation prowess to the challenges of virtual work.

And when talent and innovation intersect with mission—as it did for vaccine maker Moderna, No. 1 on the Best Workplaces for Innovators ranking—the results are not just powerful, they can help change the world.

We suggest the mantra “everything is a DCF model.” Whenever investors value a stake in a cash-generating asset, they should recognize they are using a discounted cash flow (DCF) model. This suggests a mindset that is very different from that of a speculator, who buys a stock in anticipation that it will go up without reference to its value. The topic deserves attention because many market participants don’t think DCF models are relevant, and many use heuristics for value without recognizing the purpose and limitations of the shorthands. The intrinsic value, determined by the present value of future cash flows, attracts the price like a magnetic force. This means it is useful for investors to keep in mind the value drivers of a discounted cash flow model.

In February of 2020, depression and anxiety among young people were at a two-decade high, according to the CDC. A crisis was already unfolding, and adequate support was lacking — and then came the Covid-19 pandemic.

Students have experienced academic strain from school closures — and now re-openings — and psychological trauma due to family and community deaths, economic insecurity, the frustration of paused social lives and cultural activities, and in some cases even physical violence and abuse. It’s no wonder data is showing drastic increases in stress, anxiety and depression among young people.

With these exponential increases in depression and anxiety, we need coordinated efforts to support this generation. We need passionate investors to work with the private, public and nonprofit sectors to increase access to mental health services and resources.

Before the pandemic, student mental health was woefully underfunded. Covid-19 has brought the topic to...

In 2006, Mona Eldam, seven years into her career at Morgan Stanley New York, was ready for something new, yet familiar. A former-developer-turned-technology-manager, she found herself yearning to return to her software-engineering roots. “I wanted to go back to my core technical skills,” says Eldam. Knowing how committed the firm is to supporting technologists in their career paths by offering them various opportunities along the way, she decided to speak up. “I was very open with my manager, who found eight different potential opportunities for me, just by reaching out to various network connections.” Mona picked a role in Fixed Income Technology, where she designed and implemented a data model used to confirm complex over-the-counter derivatives trades and financial instruments.

More than a decade later, Eldam, now a Managing Director and Global Head of Institutional Transactional Data, looks back fondly on how pivoting her career helped her learn more about the...

Sonari Glinton:

Hello. Sonari Glinton, and I'm walking down Hollywood Boulevard to begin our new season of Now, What's Next, an original podcast from Morgan Stanley. Welcome.

Sonari Glinton:

We're starting at Hollywood Boulevard because it's not that far away from my house. After doing a year of interviews and recording podcasts from my apartment, I thought it would be really good to get back out in the world again.

Sonari Glinton:

I'm standing here on William Friedkin's star in front of Sid Grauman's Chinese Theater in the middle of downtown Hollywood, which is kind of like New York's Times Square. It's just smaller and probably weirder. There's jugglers. You might hear the world's worst drummer occasionally. There's always people...

 

Right now there are tourists walking up and down the street, taking photos of their favorite stars. There's usually a Spider-Man or Wonder Woman impersonator, as always, trying to take a...

Andrew Sheets: Welcome to Thoughts io the Market. I'm Andrew Sheets, Chief Cross-Asset Strategist for Morgan Stanley Research.

Matthew Harrison: And I'm Matthew Harrison, Equity Research Analyst covering Biotechnology.

Andrew Sheets: And today on part 2 of this podcast, we'll be continuing our discussion on the Delta variant and the outlook for markets and the economy. It's Friday, July 30th, at 4:00 p.m. in London.

Matthew Harrison: And it's 11:00 a.m. in New York

Andrew Sheets: So, Matt, in your conversations with biopharma companies, what's your expectation on booster shots and maybe just if you could just walk listeners through that process where, you know, a new variant comes along, how does that get into the field? How does that get approved in order to get those shots into arms?

Matthew Harrison: So I guess the first thing is what's going on with boosters? There is not a consensus on boosters yet. The evidence is starting to suggest...

Many factors encouraged Eric to take a job with the Prime Brokerage sales team at Morgan Stanley Hong Kong after a six-month internship in 2018, but one stands out above the rest. “My manager was a big reason why I decided to join after graduating from college,” he says. “She cares a lot about my personal and professional development and recognized early on that I’m a very goal-driven person.”

The opportunity to set an ambitious goal presented itself just two months after Eric joined the firm as an Analyst. The Asia Prime Brokerage team needed someone to take the lead on analyzing substantial amounts of data around hedge fund performance, leverage, and positioning to create insights for clients. Eric, who majored in accounting with a minor in computer science at the University of Hong Kong, was intrigued by the opportunity. At the same time, he knew the project would be a lot to take on in addition to his existing responsibilities. “If it wasn’t for my manager’s...

Maya Penn: I was always someone who wanted to really build something myself from scratch.

Carla Harris: This is Maya Penn, who started her first company at just 8 years old. Today on Access and Opportunity, we’ll hear from Maya, and later, from her mentor, Phyllis Newhouse, and Isabelle Freidheim: two ladies who made headlines with their alternative to the traditional IPO process.

Isabelle Freidhiem: It started off really with, at its core, bringing women to the table of what is a true economic opportunity, which is really what has been lagging.

Phyllis Newhouse: Women tend to have founder-itis. We have this thing called founder-itis.

Carla Harris: Welcome to Access and Opportunity, I’m your host Carla Harris. And we’re telling the stories of individuals working to drive change within their communities. We want to provide our listeners with context about racial inequities and share tangible examples of how ideas around access and opportunity are...

Electric vehicles, the energy transition, grid modernization and distributed power are already popular investment themes, and deservedly so. What the market may not fully appreciate, however, is that each of these initiatives require infrastructure powered by a single sector—electrical equipment.

“Electrification could be one of the biggest growth opportunities in the industrial economy when you consider the number of areas that will need to be developed, expanded or modernized," says Joshua Pokrzywinski, equity analyst for Morgan Stanley Research who covers the electrical sector and multi-industry names.

The market for electrical gear not only offers a potentially lower risk play on multiple trends at once, it’s also poised to benefit from incremental growth on top of an already solid base. All told, Morgan Stanley Research analysts believe that the sector has a 20-year runway for 6% compound annual growth, or nearly double historical industry...

Much like the asymmetrical impact of COVID-19 on the global economy at large, the pandemic’s toll on U.S. commercial real estate is a tale of two markets. While some properties proved largely impervious—warehouses and distribution centers, medical science facilities and multifamily rental residences—the usage and corresponding value of others—hotels, retail buildings and corporate offices—declined modestly.

That most U.S. commercial real estate sectors are now rebounding or accelerating—albeit at different paces—amounts to an overall rosy outlook, according to James Flaum, Global Head of Morgan Stanley’s Commercial Real Estate Lending group. But some paths to recovery are still murky. “Big picture, we’re bullish on commercial real estate,” he says, but important questions remain regarding structural changes to the industry and the potential obsolescence of some commercial real estate post-pandemic.

Investors should watch factors that could...

Index Definitions

S&P 500 Index: The Standard & Poor's (S&P) 500 Index tracks the performance of 500 widely held, large-capitalization US stocks.

Risk Considerations

Equity securities may fluctuate in response to news on companies, industries, market conditions and general economic environment.

Investing in foreign markets entails greater risks than those normally associated with domestic markets, such as political, currency, economic and market risks. These risks are magnified in countries with emerging markets and frontier markets, since these countries may have relatively unstable governments and less established markets and economies.

Bonds are subject to interest rate risk. When interest rates rise, bond prices fall; generally the longer a bond's maturity, the more sensitive it is to this risk. Bonds may also be subject to call risk, which is the risk that the issuer will redeem the debt at its option, fully or...

The shortage of affordable housing has long plagued low-income families in the U.S., and racial inequity is one significant factor that’s contributed to the crisis. Minority groups, especially Blacks and Hispanics, suffer higher rates of housing insecurity due to homeownership discrimination—particularly in the mortgage application process—which leaves them disproportionately exposed to the increasingly unaffordable rental market, according to a recent Morgan Stanley Research report.1

BENGALURU: Around 3.30pm on June 15, Tejaswini V, a student of Mount Carmel College and her family, sat glued to the TV at their Bengaluru home as YouTube live-streamed a view of Times Square, New York. In around 15 minutes, Tejaswini was smiling from a billboard on the facade of the Morgan Stanley’s office at 1585 Broadway. The 20-yearold’s photo was captioned, ‘Welcome 2021 summer analysts and associates’. She is among 277 Indian students interning with the company from colleges in Bengaluru and Mumbai. While 13 students from MCC, 16 from Jain deemed to be University and 18 from PES University are part of the internship programme, there are a few from some other city colleges too. All MCC, Jain and PES students, among others, appeared on the billboards.

Jen Ng clearly remembers her first day at Morgan Stanley. She was sitting with other new hires at an orientation session, reading through the glossy benefits brochure. And while her co-workers may have been looking for information on the 401(k) plan, Ng was excited to discover a different sort of perk: The firm’s Pride and Ally Network, a group dedicated to helping create and foster an environment of inclusiveness and respect for LGBT+ employees.

“I joined that day,” she says.

Six years later, Ng, who grew up in Pennsylvania as part of a large, blended, blue-collar family that included a father who immigrated from Hong Kong and a mother who grew up in Puerto Rico, has become its newest co-chair, working alongside fellow chair Chuck Burke on everything from advocacy to event-planning.

 

Az Európai Unió Sokszín?ségi Karta magyarországi aláírójaként, illetve a Hungarian Business Leaders Forum tagjaként a sokszín?séget és a befogadást kiemelten fontos prioritásként kezeljük. Büszkék vagyunk arra, hogy munkatársaink, ügyfeleink és partnereink különböz? háttérrel, kulturális és szexuális identitással rendelkeznek. Befogadó környezetet kívánunk építeni, amelynek az esélyegyenl?ség és a kölcsönös tisztelet az alapja. A sokszín?ség segít a tehetségek vonzásában és megtartásában, valamint a környezetünk megértésében. Társadalmunk sokszín?sége er?sebbé és elfogadóbbá tesz. 

 STATEMENT OF THE EUROPEAN UNION DIVERSITY CHARTER IN HUNGARY 

As signatories of the EU Diversity Charter in Hungary and members of the Hungarian Business Leaders Forum we consider diversity and inclusion as a strategic priority. We are proud that our employees, customers, and partners are from different...

New $2.12 Million Grant Expands Morgan Stanley’s Support to Feeding America During COVID-19 and Builds Upon Efforts to Help Improve Access to Food for Children and Families in Need Across the United States

New York - 

Morgan Stanley Foundation today announced a donation of $2.12 million to Feeding America®, including a $1.94 million grant to 28 member food banks across the United States to provide families with children the ability to choose from available foods or food boxes at pantries or program sites. The funds will provide a unique opportunity for local food banks to incorporate elements of choice to food distributions, while still maintaining safety protocols due to the coronavirus pandemic. The choice model provides more healthy options and ensures families have access to foods aligned with their preferences and dietary requirements.

Feeding America projects that approximately 42 million people, including 13 million...

Congratulations to all of our Morgan Stanley Financial Advisers who were recognised on Barron’s list of Australia’s Top 100 Financial Advisers for 2021. By putting their clients first, leading with exceptional ideas and demonstrating integrity, they consistently deliver the best of Morgan Stanley to clients. 

 

The word “disruption” is not typically associated with central banks. But as central banks edge closer to introducing their own digital currencies, significant disruption could play out in the financial system.

Central Bank Digital Currencies, often called CBDCs, are a new form of digital cash intended to replace physical cash. Before I go any further, it's important to note that digital currencies should not be confused with cryptocurrencies, which are either pegged to an underlying asset—think stablecoins—or backed by a blockchain, such as Bitcoin.

CBDCs, by contrast, are just as advertised: a digital form of currency issued and backed by a central bank and maintained in a centralized ledger. It's essentially digital cash.

Why are we talking about CBDCs right now? Efforts to introduce CBDCs are gaining momentum, with as many as 86% of world central banks exploring their own digital currencies. China has already piloted trials of CBDC...