Richard Bove
Richard Bove
becoming buy capability company fidelity forcing game issue
It is significant because it expands J.P. Morgan's distribution capability without forcing the company to buy anything. It also allows Fidelity into the new issue game without becoming an underwriter.
auto bank exposed ford industry latest layoffs problems stocks today
I wouldn't own any bank stocks in the Midwest. They're exposed to the problems of the auto industry and the Ford layoffs today are just the latest example.
banking banks clear compared deal hot interest investment loan quarter rate retail sector tied tougher trading volume
I think it's clear that the banks that are more tied to the retail sector are going to have a much tougher quarter compared to those with diversified positions. The banks in the retail sector have to deal with interest rate compression, loan volume will be tougher, and they don't have the trading or investment banking that are hot now.
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.
couple factors last months pointing strength
Not only are long-term factors pointing to considerable strength, but short-term developments in the last couple of months have been positive.
bad banks believe cyclical ignore quarters secular
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?
competition exchange fewer five gone increase individual last number percent seeing shares stock trading volume york
If you look at volume on the New York Stock Exchange and the Nasdaq over the last five years, there's been no real increase in the number of shares traded. In addition, proprietary trading has gone from 19 percent to 52 percent of that total. So you're seeing more competition for fewer individual trades.
active branches building clip extremely hours industry open until
The industry is out there building branches at an extremely active clip -- a new one is slated to open every 2-1/2 hours until the end of 2005,
close expensive likelihood offices rid
The likelihood is that they would close offices and would get rid of a lot of people. They see (personal advisers) as a very expensive way to do business.
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.