Richard Bove
Richard Bove
change coming company people pushed upset
People got all upset because they don't like to see people they know getting pushed out, and they don't know the new people coming in, ... But this company has been underperforming for some time. Significant change is needed.
deal next
They know everyone. They know what everyone's thinking, and they know where the next deal may lie.
companies growth next percent piles sitting work
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.
derivative difficulty earnings event
This event highlights, once again, the difficulty in determining earnings for derivative transactions.
degree exist lost major morgan people problem stanley top
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.
card credit division problems
The problems in the credit card division are structural, and kind of long-term,
critical dominant earnings estimates found hit money needed sandy united
Citigroup needed a lot more earnings to hit its estimates and Sandy just found them in a dominant company. This will give them a foothold in the United States, which is critical because that's where the money is made.
changes hand
because it reinforces Mr. Dimon's hand to make the changes he wants.
brilliant came few last legacy manage reputation strategist
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.
equity fixed income market mixed strong
In general, this should be a mixed quarter. Clearly, M&A is strong but the IPO market has slowed down, the equity market is weakening and the fixed income market is limping along.
equity fixed income market mixed strong
In general, this should be a mixed quarter, ... Clearly, M&A is strong but the IPO market has slowed down, the equity market is weakening and the fixed income market is limping along.
bank branches close congress course follow opening possible quite similar simply stores thousand
It is quite possible that Wal-Mart could, at some point, follow a similar course by simply opening a thousand bank branches in its stores and then challenging Congress to close them down. We think Wal-Mart will do this and that Congress will back down.
business delivery faster growth higher home rate return rid secular systems wind
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.
accounts advisory banks checking city companies competition dealing difficult financial lack offer pricing regional trade universal worry york
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.