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This document is Morgan Stanley's annual report for fiscal year 2001. It provides the following key information in 3 sentences: Morgan Stanley's net income for 2001 was $3.6 billion, a 34% decline from 2000, with earnings per share of $3.19, down 33%. Despite the difficult market environment, Morgan Stanley achieved a strong 19% return on equity through expense control and business diversification. The report discusses Morgan Stanley's financial results, the challenges of the difficult market in 2001, and its continued focus on reorganizing around serving clients.




























