Morgan Stanley Seen as Jumping the Gun on Van Kampen Sale

Selling Van Kampen at a time when most asset managers are still bruised from the market downturn is not a wise idea for Morgan Stanley, analysts tell The Wall Street Journal. Assets have fallen 32% to $86 billion in the 12 months ended June 30.

“This company, over the past decade, seems to charge into each area at the top or charge out at the bottom,” said Richard Bove, a bank analyst with Rochdale Securities. “Now that they’re experiencing serious problems in their asset management business, they’ve made the decision to charge out at the bottom, apparently.”