Goldman Sachs and Morgan Stanley report quarterly earnings this week. What's the story going forward for these financial giants? David Trone of Fox-Pitt offered his insights to CNBC.
First, Trone addressed the massive restructuring being enacted by many financials -- and says that revamping may be inconsequential:
"I don't actually view these guys as having a business model. If you look at Goldman, Morgan over the last 50 years, it changes every 10 [years]," he said. "They are adaptable institutions."
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And just how does he expect the banks to adapt? "They'll give their plans on the call," he demurred. But, he added, "certainly no credit activity for a few months."
Goldman Sachs reports earnings before the bell Tuesday; Morgan Stanley reports on Wednesday.