The hedge funds have come roaring into the commodities market, and they are willing to take risks.

When you are investing in J. P. Morgan,

They're making a statement about where they think trading is going to go.

They're all looking for brokers. And that's a very promising sign for this year.

Investment banking really did knock the cover off the ball. We're moving from a pretty weak performance into a better-performing business.

I would say they're the weakest trading house on Wall Street.