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Letter "R" » Richard Bove Quotes
«But that cycle is over. The banks are going to get squeezed.»
«If you believe this a secular story then you should ignore cyclical swings. The banks may have bad quarters every now and then but so what?»
«It's a grand-slam home run. They wind up getting rid of the high-cost, labor-intensive delivery systems and get in return a business which has a faster secular growth rate with a higher rate of return.»
«Treasury prices have been rising and oil is up and down,»
«It's obviously a very rich price.»
«His legacy has been tarnished dramatically in the last few years. He came in with a reputation as a brilliant strategist and he's going out as someone who couldn't manage everything he has under one roof.»
«It would have been difficult for Goldman not to do well. Goldman is more oriented to equities than debt, and stocks rose throughout the period.»
«It's increasingly difficult to be a regional broker. There's a lack of trade to worry about, yes, but you're also dealing with pricing weakness, competition from the big New York City companies and the universal banks that offer everything from checking accounts to financial advisory services.»
«Some firms are projecting 30 percent M&A growth next year, after 36 percent this year. Companies are still sitting on piles of cash, and they'll get to work after the new year.»
«This problem doesn't exist to the same degree at the other major brokerage firms because they haven't lost top people like Morgan Stanley has.»