Dick Bove, the bank analyst whose brokerage, Rochdale Securities LLC, is struggling to survive after an unauthorized $1 billion Apple Inc. trade, said he’s been interviewing for a new job. Bove said he has narrowed his choice to three firms, which he declined to name, and will make a decision by about Dec. 15. The 71-year-old analyst said he’s giving Daniel Crowley, Rochdale’s chief executive officer, time to seek rescue financing after a loss on the Apple trade decimated the firm’s capital. “I indicated to them that my loyalty is with Dan Crowley and so I couldn’t make a decision until Dan threw in the towel,” Bove said today in a telephone interview. “The decision I make is really based on whether I want to stay with a small firm and write what I’m going to call provocative research or whether I want to go back in the general Wall Street milieu, dealing with corporate finance issues.” [Bloomberg]

  • 16 Oct 2012 at 3:57 PM

Meredith Whitney: Citigroup Should Just Give Up

Earlier today, we wondered if, in light of the news that Vikram Pandit had resigned as CEO of Citigroup, analyst Meredith Whitney’s opinion of the bank had changed. Choice comments that Whitney has made about the Big C in the past have included: “Citigroup is in such a mess Stephen Hawking couldn’t turn this company around“; “Citi is like an old broken-down Victorian house“; and Citi “has no earnings power, isn’t going to grow, hasn’t been investable in four years.” She also once told Maria Bartiromo that the only way she’d change her mind about company would be if she received “a new brain.” Still, sometimes analysts change their tune when new blood is brought in and, like former FDIC chair Sheila Bair, perhaps some of her beef with the bank had been a personal dislike of Uncle V. Now that he’s gone, is she seeing Citigroup in a new light? Read more »

Facebook will lose dominance as a major web company in less than a decade, Eric Jackson, founder of Ironfire Capital said Monday on CNBC’s Squawk on the Street. “In five to eight years they are going to disappear in the way that Yahoo has disappeared,” Jackson said. “Yahoo is still making money, it’s still profitable, still has 13,000 employees working for it, but it’s 10 percent of the value that it was at the height of 2000. For all intents and purposes, it’s disappeared.” [CNBC]

JB is a 27 year-old financial analyst who was recently dumped by the two girls he was seeing, both without the knowledge of the other. Girl number one was a “conservative Upper East Side Ivy League grad who works in finance” who he’d been with for a year. Girl number two was a “quirky Park Slope hipster with a creative ad-agency gig” who he’d been with for six months. To the naked eye, this looks like a not new thing called “cheating” (the ladies thought they were in “exclusive” relationships). Being a financial analyst by day and trend-setting player by night, however, means JB calls it “double-borough dating,” a phenomenon that operates under the assumption that people do not leave the confines of the neighborhood in which they live and in which one “courts women from distinct and distant ‘hoods, ensuring the lucky ladies never cross paths.” JB describes DBD’ing as “fun and naughty,” so if you’ve been dying to star in the bootleg version of your Sex and the City fantasies, it might be right for you. Having said that, it is not without some risks, which JB recently encountered. Read more »

  • 13 Jan 2011 at 5:19 PM

Dick Bové: Banks Are Entering A ‘Golden Age’

Not only have they “completely restructured their balance sheets,” and have increased earnings of “about a 20 percent rate per year” to look forward to but that business with the foreclosure stuff? “Those are legal problems, not financial problems.” Bové’s only regret is that Ken Lewis isn’t here to see this. Read more »

Don’t want to jump to any conclusions here, only asking because that seems to be the case with today’s essay entitled “Whitney Falters in Trying to Repeat Success of Citigroup Call.” Read more »

It’s common knowledge among womenfolk that when one has a big date or otherwise nerves-inducing event to attend, the best way to tame those butterflies is to wear something that makes you feel hot (and/or do some shots beforehand). When you look good you feel good and when you feel good you can focus on the task at hand. For Mike Mayo, that date is Friday, when he meets with Vikram Pandit, the man who jilted him, for the first time in two years. Read more »