Can this be right?
[Morgan Stanley] managed to produce a return on shareholder equity of only 5 percent for the year, compared to 10.7 percent at its rival Goldman Sachs. Simply to cover its debt expenses and other capital costs, Morgan Stanley needs to achieve a return on equity closer to 10 percent.Link Seems to me she must mean return on assets, not so? Debt expense determines return on equity, yes, not the other way around? You might count as a slip of the pen, except she says "return on shareholder equity" in the previous sentence as well. You might write it off as a rookie error but her personal blurb suggests she has been in and around finance for 15 years. As it stands, it's the kind of mistake my students make all the time but they are, you know, beginners.