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Morgan Stanley CEO shares personal investment choices

September 19
6:19 AM 2013

James Gorman Morgan Stanley CEO shared his personal investment choices, which included municipal bonds as well as biotech fund. He then opts to place his children's accounts with global equities.

Gorman currently owns about USD31 million in Morgan Stanley shares and has engaged the services of a Morgan Stanley private wealth advisor. He shared these personal experiences in an event sponsored by the Economic Club of Washington DC. He also said he was asked by Carlyle Group LP co-CEO David Rubenstein if he had enough private equity shareholdings in his personal portfolio.

Gorman maintains that the US market provides the best risk-return trade-off, he personally invests in equities located worldwide for his children because in the long term he believes, 'the rest of the world would bounce back'. He said his strategy on personal investment would be 'very modest and very unspectacular.'

The bank owns the largest brokerage in the world and to this he said, "We're pretty boring, partly because of the job I'm in and partly because I think in life and in business, it behooves you to take catastrophic risk off the table. We invest in municipal bonds, to ensure we have catastrophic risk off the table and have cash flow if, God forbid, the world falls apart."

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