Gratitude, Merrill Lynch style

From a bullish note on Merrill by Citi analyst Prashant Bhatia, a couple of weeks before Merrill analyst Guy Moszkowski wiped USD5.2billion off Citi's market value.

"John Thain, Merrill’s new CEO, is the catalyst to unlock the earnings power of
the franchise which would then result in meaningful value creation. In our
view, Merrill will successfully execute on 1) creating a risk management
infrastructure / culture that won’t result in outsized losses, 2) execute on top
line growth initiatives across the major businesses, 3) leverage the untapped
earnings power inherent in Merrill’s franchise by removing silos and building
bridges across the wealth management and institutional businesses."