Dick Bove: "Sell Everything"
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Controversial banking analyst Dick Bove of Rochdale Securities wants you to sell everything.
On CNBC's Fast Money Wednesday evening, Bove said until Washington resolves the debt ceiling issue no investment are safe and investors should sell all positions in the stock market.
Bove suggests investors move into cash. In fact, in his personal account Bove is all cash.
Bove said call him "Chicken Little" because the sky is falling.
Bove warned that foreigners are seeking to move away from investments that are associated with the U.S.
Bove said remaining liquid is the best way for investors to protect themselves. He is not a fan of gold, as he believes it is too illiquid. Swiss francs are also not an option as the government will stop the inflows to protect the economy. The euro faces the same fate as the U.S. and the dollar can not be trusted. He said a new safe have is needed which will not be based on U.S. financial products.
VIDEO
On CNBC's Fast Money Wednesday evening, Bove said until Washington resolves the debt ceiling issue no investment are safe and investors should sell all positions in the stock market.
Bove suggests investors move into cash. In fact, in his personal account Bove is all cash.
Bove said call him "Chicken Little" because the sky is falling.
Bove warned that foreigners are seeking to move away from investments that are associated with the U.S.
Bove said remaining liquid is the best way for investors to protect themselves. He is not a fan of gold, as he believes it is too illiquid. Swiss francs are also not an option as the government will stop the inflows to protect the economy. The euro faces the same fate as the U.S. and the dollar can not be trusted. He said a new safe have is needed which will not be based on U.S. financial products.
VIDEO
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