Below we highlight the year to date percentage change of various financial firms. As shown, Morgan Stanley (MS) and Goldman Sachs (GS) are the only two that are up so far this year, with MS far outperforming the rest of the group. Bank of America (BAC) is down the most so far in 2009 with a decline of 65.6%. BAC is trailed on the downside by Citi (-47.4%) and Wells Fargo (-45%). Is this divergence in performance a tell-tale sign of who is going to come out of this mess the strongest, or is it just a short-term speculative move by traders?
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