It's obviously a positive, because everyone I spoke to said there was no way in heaven or hell J.P. Morgan would win this case.
More Quotes from Richard Bove:
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.Richard Bove
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.
Richard Bove
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.
Richard Bove
You have to have scale in this business. By doubling the size of their credit-card business, Bank of America will lower their cost of handling each individual account.
Richard Bove
From 1965 to 1982, the yield curve in this country was inverted 47 percent of the time, yet bank earnings averaged a more rapid increase than non-bank earnings. Bank stocks also outperformed the SP 500, on average, over that period.
Richard Bove
Ninety percent of a retail bank's primary business is lending money on residential real estate, and that cycle is over.
Richard Bove
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Based on Topics: Heaven QuotesPublicity is the life of this culture - in so far as without publicity capitalism could not survive - and at the same time publicity is its dream.
John Berger
What you want to do is, you want to get away from people being afraid to show their work, which is the first thing, because they don't want to be shot down.
Dennis Muren