Morgan Stanley has been making some interesting investments with its own account, with four stocks standing out. The bank increased its equity holdings in these companies enough to trigger regulatory filings. The four stocks are Greenlight Capital, Shake Shack, Overstock.com, and CGG. Greenlight Capital, David Einhorn’s fund, has not been this cheap since 2009 because of poor performance. Shake Shack is looking very healthy, and MS owns over 11%. Overstock skyrocketed in 2017 on blockchain hype, but has since lost a bunch this year; but MS’ seems to like the valuation, again increasing their holdings to over 11%.
FINSUM: What an interesting mix of stocks. It is also illuminating to see where banks are putting their own money.