I want to be clear. Who knows if [ Donald Trump] will be a vessel that people will get behind, it might not be, but there is a movement out there.

The leverage Wall Street has to change the world is greater than technology. At a very young age, you're in the room with CEOs, making critical decisions. It should be exciting. It is exciting.

You ever go out to a restaurant now? You can get quality food - you can go out and get the best food that was available 20 years ago. They'll put it on a plate, you'll sit in a plastic chair because nobody values the chair, the white tablecloth, the maître d', but they'll put on your plate some great food for what used to be available at Applebee's prices. There are some really nice things going on, some external values being delivered to people.

I want to be clear. Who knows if [ Donald Trump] will be a vessel that people will get behind, it might not be, but there is a movement out there.

I don't want to pick on Deutsche Bank, but I think the world of the regulated financial conglomerate, it is a strange thing. There is nothing in common between writing checks and running branch offices, issuing credit cards - those are good businesses, but they really have zero in common with M&A advice. They're a different customer.

Do people have confidence? I think the real confidence you need is the confidence in your outlook, and I think people are pretty confident it is a low-growth world.

Everybody is talking about synergies. You've got to take out every cost you possibly can. You have to position yourself as your services change.You have to think about in five years from now what is going to happen technologically to you. And then you do have to think about M&A or your balance sheet, and you have to think about everything in the context of, "Am I prepared to meet that challenge?".