Dick Bove Nails It
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We have to admit it, we were skeptical - but the old man was right.
We're speaking of non-other than controversial bank analyst Dick Bove of Rochdale Securities. A few days back, Bove went out on a limb and told clients and the world to "Sell It All."
This bold call from Bove was met with much leeriness, maybe even laughter. CNBC contributor Patty Edwards tweeted to us: "Buy Signal?"
But while many thought Bove would be wrong based on a history of ill-timed calls (think Lehman Bros. and Citigroup), he was dead right. The market is off about 8 percent since his call.
While Bove focuses strictly on financial stocks, his experience in this sector -- ultra-sensitive to greed and fear -- may have given him an edge in making this prescient call.
Kudos Mr. Bove. Nice call.
We're speaking of non-other than controversial bank analyst Dick Bove of Rochdale Securities. A few days back, Bove went out on a limb and told clients and the world to "Sell It All."
This bold call from Bove was met with much leeriness, maybe even laughter. CNBC contributor Patty Edwards tweeted to us: "Buy Signal?"
But while many thought Bove would be wrong based on a history of ill-timed calls (think Lehman Bros. and Citigroup), he was dead right. The market is off about 8 percent since his call.
While Bove focuses strictly on financial stocks, his experience in this sector -- ultra-sensitive to greed and fear -- may have given him an edge in making this prescient call.
Kudos Mr. Bove. Nice call.
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