As you may have heard, various banks will be laying off a handful of employees in the coming weeks and months. Barclays, UBS, and Credit Suisse have already gotten started, and Goldman let go of some staff yesterday with plans to cut more in the future. While the news is surely distressing to those it directly affects, there are probably some people, who remained gainfully employed, that believe it’s no big deal. What does Rochdale analyst Dick Bové think? Spoiler alert: he’s not gonna mince words.
From: Richard Bove
Date: Thu, 30 Jun 2011
Subject: Dick Bove’s Notes: Job Loss
The jobs being lost in New York’s financial industry will never come back.
Richard X. Bove
Sorry if you thought he was going to sugarcoat, which, if you know anything about Dick, you know he would never, under any circumstances, do. People come to him for no nonsense no frills exchanges of information and that’s what they get. Continue reading »
For those of you not up on your pizza delivery news, a Domino’s employee reportedly saved an elderly woman, after noticing that she’d failed to place her daily order for three days. Deliverywoman Susan Guy went to check on the lady and found that she’d fallen and was unable to reach the phone and call for help. CNBC wants to know how the market will react to the news and currently has a guest on who’s being forced to offer some real analysis (he thinks the story is going to lift sales). Continue reading »
Something, supposedly. Continue reading »
As you may have heard, Meredith Whitney has lately been saying that we’re going to be looking at the scariest environment imaginable when as many as 50 to 100 cities and other municipal issuers will supposedly default on their debt this year. Charlie Gasparino, however, is suspect. No one he knows has seen a copy of Whitney’s report (entitled “State Budgets: The Day of Reckoning”) and until he gets a peak and can evaluate it, Chaz doesn’t think we should be buying what this broad is selling. Continue reading »
Whitney Tilson sent out T2 Partner’s analysis of Netflix yesterday, explaining why it’s their “largest bearish bet.” If you have any thoughts on why they’re right or wrong, he’s all ears. Continue reading »
You people have really done it now. Yesterday Dick Bové went on CNBC right after Wells Fargo had announced earnings, at which time he described the bank as a “standout” and one that had its loan losses “under control.” Boves followed this up by downgrading WFC from neutral to sell. No big D, she thought, but apparently some people begged to differ! DiBo was taken to task for the sharp sell off in Wells (and the market in gen) and now, because the relentless bitching just will not quit, she’s decided she’s going to pack up her act and leave. According the Rochdale analyst, we will no longer be treated to her analysis of a company she hasn’t yet analyzed. Now, she’s going to start doing her homework before appearing on television to make recommendations and what’s more? She’s no longer going to play the game where Michelle Caruso Cabrera names a company and she blurts out the first word the comes into her head.
Prominent banking analyst Dick Bove, who caused a stir Wednesday with seemingly contradictory remarks on Wells Fargo, has decided he’ll no longer provide immediate earnings commentary on air.
“I’m not going to do it anymore. I’m going to have to see the numbers before I go on air,” Bove told Dow Jones Newswires Thursday. “It creates an untenable situation.”
Continue reading »
