ValueAct stake in Morgan Stanley shows challenges in big bank activism

ValueAct Capital Management's newly acquired stake in Morgan Stanley underscores how tempting big bank stocks are for activist investors, but also how difficult it can be for them to move the needle in terms of performance. The hedge fund firm disclosed on Monday that it had bought $1.1 billion worth of Morgan Stanley shares during the second quarter, giving it a nearly 2 percent stake in the Wall Street bank. “Maybe ValueAct's presence will just keep the pressure on - we'll take it." Acti