Richard Bove Quotations

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.

because it reinforces Mr. Dimon's hand to make the changes he wants.

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.

The ability to utilize those marketing programs is going to be enormous for Bank of America. You'll see a significant increase in the bank's credit-card activity now that they have MBNA.

Ninety percent of a retail bank's primary business is lending money on residential real estate, and that cycle is over.

I think that if we were talking about this kind of mortgage market four years ago, it would be a real crisis for Lehman. But today, given the kind of diversification they've done, it's nowhere near a crisis.

Imagine the doctor who built an office next to a Ford factory. If the workers lose their jobs and those benefit plans disappear, this doctor isn't going to be able to afford his office.

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.

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?

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.