Me vs. Dick
November 21, 2008 – 11:32 pm
The Financial Times’ blog FT Alphaville has me going toe-to-toe with Dick Bove. For the uninitiated, Dick is a high-profile banking analyst, regularly interviewed on CNBC.
He said last March to buy financials. Oops. He also said Lehman would survive. Double oops.
Bove’s is the first block quote in the article. Mine is the second. Who comes out ahead? I invite readers to be the judge…
Here, again, is the link.
More on this topic
(What's this?)
Barcalys' Rushed Purchase Of Lehman Broker Dealer Bites It In The Rear
(Zero Hedge, 5/18/09)
Scandal: Weil Gotshal Demands $55 Million For 4.5 Months Of Lehman Liquidation Work
(Zero Hedge, 4/15/09)
Lehman Brothers Files For Bankruptcy
(Stock Trading To Go, 9/15/08)
Posted in Wall Street, banking, credit crunch, stocks |
6 Responses to “Me vs. Dick”
Great explanation on C’s balance sheet.
You could have talked about the liabilities too. There is major confusion there too
By Dr.Dan on Nov 22, 2008
Dick Bove sounds like an idiot shill.
By Tom Lowe on Nov 22, 2008
In Dick’s defense, even if he thought banks were going to fail, it would be very hard for him to say so publicly. He has been around forever, and a lot of people do listen to him. If he said what I believe to be the truth, that the banking system has zero equity value, it would cause widespread panic.
That said, he has made some pretty terrible calls.
By RolfeWinkler on Nov 22, 2008
Good call on reality R.W.
If you had a vested interest in a venture that was going down the tubes, would you say “we’re toast” or would you say something about having “difficult times that we can overcome”?
Yeah, I’m in sales…
By shinola on Nov 22, 2008
The unraveling is peaking/popping up in various new places.
British Airways just announced a $300 - $600 US fuel surcharge per flight when you use frequent flyers miles.
That’s right–if others follow suit there will be a de facto wiping out of all frequent flyer miles.
By Lisa on Nov 22, 2008
There are very few out there you can trust with what they day.
Bove is nothing but a taking head for his sector. All they ever do is “talking their book”
The dishonesty I hear, I wonder what kind of number they would generate on Obert Hare’s check list.
I’m sorry but I do expect thre truth, seems it only comes from Robter Shiller, Nouriel Roubini and Peter Schiff.
The rest of are on TV just to fill time.
By Jim Green on Nov 23, 2008