The case for Wall Street’s revival

March 13, 2012 | 1:11 pm by Greg David 

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   Sanford Bernstein’s Brad Hintz, the top-rated analyst covering Wall Street, has been the prophet of relative doom for the industry he watches so closely. For two years, he has argued that the new regulatory environment and changes in markets are making Wall Street a much less profitable place. He says the firms will be forced to drastically pare their compensation and cut their workforces. He insists the Street’s chief financial officers have told him they understand this and that, over time, the changes will be dramatic.

Other experts and most journalists have frequently adopted Mr. Hintz’s position, as I have.

However, new numbers raise some doubt

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