Dick Bove Channeling Donald Rumsfeld

Dick Bove, who recently said you should buy Morgan Stanley when it was trading for around $19 a share so you could get that beach house in Spain, now says NOT to fear the unknown. It was almost like he was channeling Donald Rumsfeld, and his unknown unknows pronouncement. Bove was essentially saying don't concern yourself with unknowns since when those unknows are taken away the bank stocks will soar. That seems quite risky to me, not to worry about what could happen in the face of a European debt crisis or if the unemployment rate continues to rise.

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Tagged dick bove, donald rumsfeld, know unknows, unknown knowns

Cramer Said Buy Morgan Stanely to Play Facebook IPO

On par with Dick Bove's call on Morgan Stanley, when Bove said he'd buy it aggressively so he could buy a house in Spain, Jim Cramer said Morgan Stanley should be bought on the back of the Facebook IPO, saying it was "dirt cheap". That was on February 2nd, when Morgan Stanley (MS) was trading around $19.66 a share, it's now trading for around $13.46 a share. I guess it's even cheaper these days. And we all know how good that Facebook IPO was for everyone. Here's the call, notice the skepticism on the faces of his CNBC colleagues,

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Tagged dick bove, dirt cheap, facebook ipo, jim cramer, morgan stanley

I Guess Dick Bove’s Beach House in Spain is On Hold

About a month ago, ubiquitous banking analyst (media shy) Dick Bove told Bloomberg's Trish Regan that buying Morgan Stanley's stock will enable you to buy that house on the coast of Spain you've always dreamed about. Well, since Bove made that call the stock has tumbled, going from around $20 a share to $16, a nice 25% drop. This is what Bove said:

“I think Morgan Stanley will allow you to buy that house on the coast of Spain. I think that stock is so cheap right now, it’s overwhelming. It should be bought and bought very aggressively, right now.”

Here's

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Tagged bloomberg, dick bove, house on the coast of spain, morgan stanley, trish regan

Dick Bove: “Moody’s Has Lost Its Mind”

Now we're talking. I love it when people get a bit riled up and start to say what they really think. Here, I think Bove is right. Moody's, ever late to the party, is make this call now, where were they three years ago when all the banks were failing apart? I don't think Ben Bernanke or anybody at the federal reserve would let Bank of America fail.

"That is so absurd I can't believe anyone would even write it. This is the largest bank in the United States," said Bove of Bank of America. "It has business with one out

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Tagged bank of america, dick bove, moody's, too big to fail

Dick Bove Goes Chicken Little, Says Sell Everything

Like Chicken Little, Dick Bove says the sky is falling and it's time to sell all stocks until the debit limit crisis is past. Go all crash is his call. What do you think? Many are saying the bottom might be in when people like Bove are calling for people to get out of the stock market entirely.

"It now makes sense to test the unthinkable," he writes. "Thus, for the moment I would suggest suspending investing since all stocks are likely to fall."

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Tagged chicken little, dick bove, go cash, sell all stocks