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Morality:
Subjectivism says there are no universal moral principles. So it says there is no good and no evil, as those words already imply that they have a broader meaning outside specific situations.
Reality:
Subjectivism says there is no objective reality. It says reality is completely whimsical to, for instance, our mind. We create our own reality. Other people only exist insofar they exist in our minds.
For a quick and dirty introduction to objectivism, go here:
http://www.whatisobjectivism.com/
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And go here for objective morality:
http://www.lewrockwell.com/orig6/molyneux7.html