After one investor conference in June 2011, veteran bank analyst Richard Bove says he called the lender’s investor relations department to complain. “I told them I didn’t believe such an incredibly bad presentation could be made,” Bove says of Moynihan. “He doesn’t have the ability to speak off the cuff, and to let him is to destroy shareholder wealth.” Moynihan’s lack of eloquence is the main reason he’s underestimated, says Bill Miller, chairman of Legg Mason Capital Management Inc., whose funds own about 4 million Bank of America shares. Miller says the stock can double within three years. “There’s a tendency to impute much greater skill on the part of somebody like Jamie Dimon, who is very smooth, over someone like Brian,” Miller says. “People say, ‘Oh, he doesn’t speak well, and he stumbles over his words and he’s sweating.’” [Bloomberg]

18 comments (hidden to protect delicate sensibilities)
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Comments (18)

  1. Posted by Dicky B | February 26, 2013 at 12:43 PM

    Mr. Moynihan, what you've just said is one of the most insanely idiotic things I have ever heard. At no point in your rambling, incoherent response were you even close to anything that could be considered a rational thought. Everyone in this room is now dumber for having listened to it. I award you no points, and may God have mercy on your soul.

  2. Posted by POTUS | February 26, 2013 at 12:44 PM

    Ah, hah. My next Secretary of Defense.

  3. Posted by Guest | February 26, 2013 at 12:50 PM

    Whatever, Dick probably worked up a pretty good sweat trying to hit one button at a time on the granny phone dialing in.

  4. Posted by Bank Wallah | February 26, 2013 at 12:57 PM

    Dimon: "Hey, Moynihan, knock-knock…."

    Moynihan: "Who's there?"

    Dimon: "Dick Bove'…."

    Moynihan: "Dick Bove' who….?"

    *Sounds of Dimon and Moynihan laughing hysterically*

  5. Posted by Guest | February 26, 2013 at 1:00 PM

    Yeah, well the Jerk store called, and they are running out of Bove!

    -Brian coSTANza

  6. Posted by Guestido | February 26, 2013 at 1:03 PM

    B Mo would probably never be allowed to sit at John Thomas Financial

  7. Posted by InfiniteGuest | February 26, 2013 at 1:07 PM

    Wow, so within three years Bennet Brauer up there could steer the stock back to its post-Lehman-bankruptcy levels. Champagne all around.

  8. Posted by Kurt | February 26, 2013 at 1:11 PM

    Should have quietly advised him never to go full retard.

  9. Posted by asianbankingsensation | February 26, 2013 at 1:17 PM
  10. Posted by Ken Lewis | February 26, 2013 at 1:26 PM

    They made me an offer, for whatever that's worth.

  11. Posted by Boone's Farm VP | February 26, 2013 at 1:27 PM

    Actually, I believe a certain domestic brand of wine is the preferred celebratory drink at BofA.

  12. Posted by C. Gasparino | February 26, 2013 at 1:33 PM

    Profuse sweating and eloquence are not mutually exclusive.

  13. Posted by Guest | February 26, 2013 at 1:35 PM

    I'm a grunter.

    -L Tilton

  14. Posted by HotKarl | February 26, 2013 at 1:42 PM

    Moynihan rebuttal to Rafferty Capital Markets Investor Relations: "I didn't know such an incredibly unqualified individual with the grammar skills of a 1st year Chinese MBA student was allowed to write and publish research."

  15. Posted by Guest | February 26, 2013 at 4:41 PM

    Even the ever polished and bad-ass Jamie Dimon couldn't make it through a meeting without sweating or mumbling if he had pitch the outlook for the steaming pile of turd that is BofA.

  16. Posted by Howard Stern | February 26, 2013 at 7:49 PM


  17. Posted by Tyler | February 27, 2013 at 12:05 AM


  18. Posted by J Cana | April 22, 2013 at 10:53 PM

    One more ugly quarter and we may not have Mumbles Moynihan to kick around anymore! In 3.5 years Mumbles has not created any shareholder value, share price from $15 to 11.50!