Dick Bové

Here’s Kent Engelke, explaining the math he used to come up with that prediction. Take the 7% of presidents who have been impeached or resigned, ignore the fact that 0% of impeached presidents have actually been removed from office, then add 3%, just for the hell of it.

“If ObamaCare is the fiasco that some headlines are suggesting it is, I place the odds around 10% the president will resign before next November’s election,” said Kent Engelke, managing director at the brokerage Capitol Securities Management. Engelke, who has more than 27 years of experience in the securities industry, says he got the 10% number from a simple calculation: 7% of all U.S. presidents faced impeachment or resignation (Presidents Andrew Johnson and Bill Clinton were impeached, while President Nixon resigned). He adds in another 3% due to the heightened animosity between president Obama and Republicans in congress.

And here’s Dick Bové, acting as the voice of reason on this one. Read more »

Remember David Miller? Rochdale Securites trader who masterminded a scam that involved the “unauthorized purchase of about $1 billion in Apple stock,” which he claimed was for a client (a lie)? Forget to dot a few essential i’s and cross a few crucial t’s in the scheme, which contributed to its failure and left the firm in a “negative capital position”? Robbed the universe of Dick Bové research for a time? Which thankfully turned out to be a very short amount of time, i.e. the period between Bové’s resignation from Rochdale and the announcing of the winner of the Dick Bové Sweepstakes? Yeah, he’s going to jail. Read more »

  • 11 Jun 2013 at 5:35 PM

So Dick Bové Revealed Ties To The Mafia Today

In a note to clients about the Consumer Financial Protection Bureau. Read more »

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]

When regular old bank analysts switch firms, people don’t tend to make a big deal about it. Gardening leave is taken, contracts are signed, key cards are distributed, new business cards are printed. Sometimes you’ll get an email address with updated contact information. That’s usually it. Dick Bové, as you all know, however, is no regular bank analyst. Which is following his departure from Rochdale Securities, potential employers didn’t interview him, he interviewed them, why his son/spokesman, Joe Bové sent out a press release announcing the final countdown to Bové Day, and why, when that blessed day arrived, it was celebrated with a three-course feast fit for a king and a little something called the Dick Bové Banking Manifesto. Read more »

  • 30 Jan 2013 at 6:26 PM

Dick Bové: Hold Onto Your Hats

La Bové is back with his first piece of “outspoken analysis” from the new shopRead more »

Last month, “noted bank analyst” Dick Bové informed the people that after careful consideration, he had finally selected the lucky winner of the Dick Bové Sweepstakes, tapping Rafferty Capital Markets LLC to be his new employer over a large pool of suitors banging down his door. Today, Bové’s colleague/unofficial spokesman/son none of us knew about until now sent a letter to clients re: the new gig (and some background about the selection process) containing good news and bad news.

The bad news: As previously noted, Dick Bové apparently has a son who he works with, i.e. we could have lived in a world where there was a firm called Bové & Sons, if only they’d struck out on their own!

The good news: The duo will start cranking out the good stuff on January 28, if all goes according to plan. Read more »