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Investment Banks Much Room To Fall Further

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by Felix Salmon
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Nov 02 2007 12:00am EDT

Investment Banks: Much Room to Fall Further

Floyd Norris has a chart today which puts the recent share-price drops at Merrill, Citi, Bear and the like in context. Yes, they're down from their highs, but the broker-dealers in general have massively outperformed the rest of the stock market over the past few years. It's easy to see why investors – including Jim Rogers – think there's a lot more room left on the downside for these stocks, and why it's going to be hard to attract a new CEO for Merrill Lynch if his compensation is based on the share price going up from here.

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