RIP, Paul Allen
MarketFoolery
The Motley Fool
4.7 • 1.7K Ratings
🗓️ 16 October 2018
⏱️ 25 minutes
🧾️ Download transcript
Summary
Paul Allen co-founded Microsoft, owned professional sports teams, and made contributed billions to philanthropic efforts. Motley Fool Asset Management’s Bill Barker discusses Allen’s amazing life in and out of Microsoft. Plus, we discuss earnings from both the financial and restaurant industries, and Walmart’s new partnership with Advance Auto Parts. (Tangents include Bill’s recent trip to Boston and what jobs are available in the state of Maine.)
Thanks Netsuite. Get the FREE guide, “Crushing the Five Barriers to Growth”, at www.NetSuite.com/Fool.
Transcript
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| 0:00.0 | Thanks to NetSuite by Oracle, the business management software that handles every aspect of your business in an easy to use cloud platform. |
| 0:08.0 | Get the free guide crushing the five barriers to growth at net suite.com slash fool. |
| 0:14.3 | It's Tuesday, October 16th. |
| 0:17.9 | Welcome to Mark Fullry. |
| 0:19.0 | I'm Chris Hill joining me in studio today |
| 0:21.2 | from my local asset management, Bill Barker. Thanks for being here. |
| 0:25.0 | Thanks for having me. |
| 0:26.0 | We got a bunch of things to get to. We've got some retail, we've got Domino's. |
| 0:30.0 | Let's start with the banks just real quick because for anyone worried about Goldman |
| 0:34.9 | Sachs and Morgan Stanley I'm here to say relax they're doing fine. |
| 0:41.0 | They're gonna make it. We were worried that's given last week's |
| 0:47.3 | drop in the market that gosh maybe Goldman Sachs and Morgan Stanley and the |
| 0:51.6 | people running those two large financial institutions |
| 0:55.2 | have forgotten how to make money. |
| 0:57.3 | And I'm here to say based on their latest quarterly results, they haven't. |
| 1:01.6 | No, they have not forgotten how to make money. |
| 1:04.9 | People have kind of forgotten that these places do make a lot of money. |
| 1:08.5 | The stocks are all down quite a bit this year, down around 20% for the group reporting between Black Rock and Goldman |
| 1:18.1 | Sachs and Morgan Stanley 15 to 20% and the rest of the market up 5.8 percent depending on exactly where we are |
| 1:26.9 | the moment you're listening to this because it's moving around again today. |
| 1:31.6 | So it's kind of a time of at least perceived or expected |
| 1:36.3 | transition for the heavyweight Wall Street banks. There's fee compression and that's a big part of why there is not that high level of |
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