Browsing articles tagged with " dick bove"
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.
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,
“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
"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
"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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