Three Wall Street veterans weigh in on the dangers facing investors in coming years. Investing involves managing risks, and the past year has served up no shortage of warning signs. From recession fears to the continuing war in Ukraine to geopolitical tensions rippling across the globe, investors have had to navigate a uncertain path in search of returns. And the next decade promises to be just as perilous. To help gauge the dangers that may lie ahead, we spoke with three prominent investors...

James Gorman said the worst is over for the industry’s downturn in trading and investment banking. “I do believe it’s bottomed,” the Morgan Stanley chief executive officer said in an interview on Bloomberg Television Tuesday. Deals will pick up, but possibly not until next year, he said. Morgan Stanley earlier Tuesday reported second-quarter results that fell short of analysts’ estimates for total trading revenue. The firm surpassed expectations for investment-banking revenue. Still, shares...

Buyout titan Robert Smith’s Vista Equity Partners more than doubled its initial investment in Apptio Inc. after International Business Machines Corp. agreed to acquire the software maker for $4.6 billion. The private equity firm, which bought Apptio in early 2019 for about $1.9 billion, told investors that the deal would return 2.1 times the firm’s investment after accounting for fees. Vista has generated $18 billion in total value by cashing in on bets since late 2021, it said in a statement...

Welcome to Bw Daily , the Bloomberg Businessweek newsletter, where we’ll bring you interesting voices, great reporting and the magazine’s usual charm every weekday. Let us know what you think by emailing our editor here! If this has been forwarded to you, click here to sign up. Must-Reads The 10 AI startups leading the pack. Honda is recalling 1.2 million cars because of a rear-view cameras issue. Weekend reading: The book National Dish explores the foods that define a country’s culture. The...

(Bloomberg) -- UBS Group AG is winding down a business in its US mortgage unit that focuses on “to-be-announced” trading, which involves forward sales of such securities. Most Read from Bloomberg Europe’s Economic Engine Is Breaking Down ‘Last of Us’ Multiplayer Video Game Faces Setbacks at Sony Emerging US Debt Deal Would Raise Limit, Cap Spending for Two Years Cathie Wood’s ARKK Dumped Nvidia Stock Before $560 Billion Surge A $189 Airport Travel Hack Is No Longer Working Very Well The Swiss...