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Afternoon Humor: Dick Bove's Hist(o/e)rical Bank of America Price Targets

Tyler Durden's picture





 

Traditionally we reserve the funny pages for Friday but for Dick Bove we will always make an exception. While his Buy call on Lehman days ahead of the firm's bankruptcy can never be toppled in the pantheon of financial humor, his recent Price Target track record vis-a-vis Bank of America stock is rapidly approaching Hall of Fame status. The chart below says it all. And for those confused, the "B" stands for Buy.

Courtesy of John Lohman

 


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Mon, 07/18/2011 - 17:13 | Link to Comment plocequ1
plocequ1's picture

Better wording: And now for the entertainment portion of our show

Mon, 07/18/2011 - 17:19 | Link to Comment Doode
Doode's picture

Well, if you were buying it all this time then imagine the big bux you will have once it upticks to even a half way from the top! Hehehe

Mon, 07/18/2011 - 17:32 | Link to Comment malikai
malikai's picture

Seriously, this guy is just noise. He should be like my broker and only call buys on the peaks. At least you can trade that kind of BS.

Mon, 07/18/2011 - 17:47 | Link to Comment I think I need ...
I think I need to buy a gun's picture

if things fell right for everyone, should this man really have a job or is he representing a bad element in our system

Mon, 07/18/2011 - 17:32 | Link to Comment nope-1004
nope-1004's picture

Can someone help me with this graph?  Does it mean:

a)  Dick Bove is wholly incompetent.

b)  Dick Bove is one big fat pollyanna.

c)  Dick Bove has no idea what he is doing.

d)  Dick Bove just opens his mouth to feel important, and knows 0% of his area of expertise.

 

I'm thinking d), but could be wrong.

 

Mon, 07/18/2011 - 17:35 | Link to Comment SmoothCoolSmoke
SmoothCoolSmoke's picture

It means Dick Bove; bought and paid for WS Banksters.

Mon, 07/18/2011 - 17:53 | Link to Comment Doode
Doode's picture

Analysts are worthless in general, but I wonder what is the overall record for DBove. Maybe there are some redeeming qualities - I just do not know. I do know that many will tell you that a. investment is long term, and b. if you bought it when they told you then in X years you will be sitting on a pile of cash where X is carefully selected to be a top price for their recommendations :)

Mon, 07/18/2011 - 19:13 | Link to Comment HowardBeale
HowardBeale's picture

e) It means Dick Bove is a criminal whore that will do or say anything for money?

 

Nobody could be that stupid and still have a job. Thus...

Mon, 07/18/2011 - 20:27 | Link to Comment Doña K
Doña K's picture

I still remember his face when he called Lehman a buy. I immediately doubled my puts. Not a good poker player you are Mr. Bove. Thank you for half of my shiny Porsche. The other half was by a good tip from Mr. Jim Rogers on Citi.

I already have 30k miles on it and ready to trade in for a new one.  I know that Jim reads Zero hedge. Jim, we need a good tip. We know you are shorting a big bank. Can you give us the first and the last letter?

I am aready short the one I think you mean and up considerably, but.. I need to be sure.

Mr. Bove, we also need your help. Give us your wisdom. s/

Cheers to all   

Mon, 07/18/2011 - 23:18 | Link to Comment jerry_theking_lawler
jerry_theking_lawler's picture

yes, one of my all time favs, mr. rogers...(a fellow southerner and i just went through his AL hometown a few weeks ago)...please give us a 'good tip'....i too am needing 1/2 of a new porsche. actually, i would settle for 1 whole kia.....

Mon, 07/18/2011 - 18:41 | Link to Comment max2205
max2205's picture

Talk about averaging down....

Mon, 07/18/2011 - 21:47 | Link to Comment Pladizow
Pladizow's picture

It's a photo finish race in reverse between Dick Bove and Doug Kass!

Mon, 07/18/2011 - 17:16 | Link to Comment Misean
Misean's picture

I could be as astoundingly wrong as Dick Butthead for the salary he's pulling! Anyone got god's servant Lord B's phone number?

Mon, 07/18/2011 - 17:21 | Link to Comment I Am The Unknow...
I Am The Unknown Comic's picture

B is for Butthead

 

B-ay-bay, b-ee-bee, bi-i-bicki-bi-bee-o-Bove,

bicky-bi-Bove, b-u-boo!, bicky-bi-Butthead!

Mon, 07/18/2011 - 18:32 | Link to Comment Piranhanoia
Piranhanoia's picture

(beavis' a dope)

Mon, 07/18/2011 - 17:16 | Link to Comment augie
augie's picture

eerily similar to an image of a city burning. 

Mon, 07/18/2011 - 17:19 | Link to Comment Slap That Taco
Slap That Taco's picture

Space invaders? Was that the name of that game?

Mon, 07/18/2011 - 17:16 | Link to Comment Dkizzle49855
Dkizzle49855's picture

what a maroon!

Mon, 07/18/2011 - 17:41 | Link to Comment Caviar Emptor
Caviar Emptor's picture

Cretin. Imbecile

Mon, 07/18/2011 - 17:17 | Link to Comment Cleanclog
Cleanclog's picture

Bove must not have nerve receptors in his skull - he loves to bang his head against the wall.

Mon, 07/18/2011 - 17:45 | Link to Comment Max Hunter
Max Hunter's picture

He's also not very good at math.. Here it is.

BAC + Countrywide = BAC stock < $ 2.00

Mon, 07/18/2011 - 17:18 | Link to Comment Slap That Taco
Slap That Taco's picture

You know, back in 2000 I was ignorant of the markets and basically had my money managed by a Mr.S.

I learned a huge lesson by that experience, and fired the SOB (nice guy actually, just incompetent with MY money.) It was a nasty break-up, I roasted him and left the office feeling like the loss of $xxx,xxx.00 was worth it for getting to tell to his face what a fuck up he was.

This guy Bove must make millions a year.  Nothing wrong with that of course, but who the hell are his clients? Millionaires without a brain in their heads? How does a guy who is consistently wrong continue to be in business?  A certified expert no less, on a sector that he is wrong seemingly MOST OF THE TIME.

Help me out, I'm getting good at this (no, not pole dancing) and want some rubes, er, clients of my own.

Mon, 07/18/2011 - 17:22 | Link to Comment vote_libertaria...
vote_libertarian_party's picture

I'd bet he has 0 clients.  He is probably paid by WS firms to misinform the masses.

 

He says 'buy' when WS needs to sell and lock in profits.

Mon, 07/18/2011 - 17:20 | Link to Comment oldmanagain
oldmanagain's picture

Bove is a great indicator.  When he really gets bullish, all hell breaks loose, market collapse.

It could be a Goldman ploy, drawing in enough buyers in to unload on.

Mon, 07/18/2011 - 17:18 | Link to Comment Sudden Debt
Sudden Debt's picture

All US big banks always have these big target prices. They are never lower then the actual price.

When BAC was at 17$, everybody was yelling 40$ as a short term target.

For Citi is was 16$ when it was at 5$....

All I know is that both banks give a dividend that values these stocks at 40 CENTS for Bac and 4$ For CITI!

TAKE THOSE LOSES LIKE MAN PUNCKS!

Mon, 07/18/2011 - 17:21 | Link to Comment Slap That Taco
Slap That Taco's picture

OWWWWWWW!

Mon, 07/18/2011 - 17:18 | Link to Comment oogs66
oogs66's picture

it looks like something from etch a sketch ....probably a good tool for him to use for his analysis anyways

Mon, 07/18/2011 - 17:19 | Link to Comment ZackAttack
ZackAttack's picture

Dick Bove... before he dicks you.

Mon, 07/18/2011 - 17:42 | Link to Comment Global Hunter
Global Hunter's picture

good stuff!

Mon, 07/18/2011 - 17:20 | Link to Comment SwingForce
SwingForce's picture

Don't leave out Cramer! Remember "10 Reasons to BUY-BUY-BUY Bank of America" on Jan 6, 2011 when that day the stock was $14.69 high/ $14.34 low.

http://www.cnbc.com/id/40949412/

Mon, 07/18/2011 - 17:26 | Link to Comment I Am The Unknow...
I Am The Unknown Comic's picture

I'll bet Cramer recommends GS within 7 days. 

I think that is the real puppetmaster whose had is up his ass.  For a while I thought it might be JPM, but I think it is Goldman. 

Mon, 07/18/2011 - 17:46 | Link to Comment I Am The Unknow...
I Am The Unknown Comic's picture

Wow, no sooner than I posted this then did the Fast Money bottom bitchez come out promoting GS as "the best in breed."  I suppose cramer will not be far behind....maybe in the next 2 days vs the 7 days as I stated above? 

It's almost eerie sometimes, how predictable these monsters are. 

Every one of them should be tried on RICO charges.

You know, one day, for just ONE day, all of us here at ZH ought to open up a thread whereby we all watch Fast Money and Mad Money together and just rip them all new assholes.  I think that would be SO MUCH FUN.  We should do it on a big news day, such as when the debt ceiling is raised. 

Mon, 07/18/2011 - 18:10 | Link to Comment SwingForce
SwingForce's picture

Cramer worked for Goldman "In the DAY", whatever that means.

Mon, 07/18/2011 - 18:37 | Link to Comment I Am The Unknow...
I Am The Unknown Comic's picture

you said "worked" as in past tense????

Did you mean "will have worked" ???  (I think that is the past perfect participle, right?) 

Mon, 07/18/2011 - 18:06 | Link to Comment sheeple2012
sheeple2012's picture

and when poor Auntie Emm calls the Lightin' Round from her trailer in Kansas tonight to ask what she should do now after buying it at $14.50, he will say "SELL SELL SELL".... which of course means BUY BUY BUY 

Mon, 07/18/2011 - 17:20 | Link to Comment spongeBOB
spongeBOB's picture

He should've quit while ahead.

Mon, 07/18/2011 - 17:21 | Link to Comment Mongo
Mongo's picture

Is he for real? nevermind...

Mon, 07/18/2011 - 17:22 | Link to Comment centerline
centerline's picture

Wow, caught the falling knife over and over.

Mon, 07/18/2011 - 17:25 | Link to Comment oldmanagain
oldmanagain's picture

I have often wondered how much it costs to get a Cramer recommendation.

Mon, 07/18/2011 - 17:32 | Link to Comment wrs
wrs's picture

BAC is a buy at $8 and will find support at $7.50.  Then it's going to turn around for a nice run to $11 by option expiry.  That way the calls get bought up cheap and the puts expire worthless.  It's the game they play with big option expirations.  The one coming up on BAC is pretty large.  I expect BAC to bottom in the next week or so and then start moving back up again. 

Mon, 07/18/2011 - 17:39 | Link to Comment wrs
wrs's picture

BAC is a buy at $8 and will find support at $7.50.  Then it's going to turn around for a nice run to $11 by option expiry.  That way the calls get bought up cheap and the puts expire worthless.  It's the game they play with big option expirations.  The one coming up on BAC is pretty large.  I expect BAC to bottom in the next week or so and then start moving back up again. 

Mon, 07/18/2011 - 17:29 | Link to Comment Milton Waddams
Milton Waddams's picture

 

In 1885, William R. Travers, prominent New York businessman and builder of Saratoga Race Track, was taken out for lunch by a Wall Street broker anxious to impress him and win his business. The broker took Travers to a nearby marina to show off his yacht and those of the other brokers who worked for his firm. The businessman looked down the line of beautiful craft and asked, "Where are the clients' yachts?".

The broker didn't have an answer. Travers took his investment business elsewhere.

Mon, 07/18/2011 - 17:30 | Link to Comment buzzsaw99
buzzsaw99's picture

generational b b b buy b b b bove b b b bitchez!

Mon, 07/18/2011 - 17:30 | Link to Comment monopoly
monopoly's picture

Cramer runs a close second to Bove. And they have Cramer on at 6AM west coast time. Absolutely nauseating. That was the only time slot I even turned on the idiot channel. Now it is just Bloomberg until market opens and then XM music till the trading day is over.

Mon, 07/18/2011 - 17:56 | Link to Comment Navigator
Navigator's picture

I've also switched to Bloomy since CNBC put that immature Cramer clown on at 6am PDT. There's not a chance in the world I'm going to watch Cramer jump around and scream and shout down all the traders and other guests on that show.  I suspect their ratings are plunging since very few adults will put up with that sort of nonsense.  I did tune in this morning to listen to El-Erian and noticed the network is virtually BEGGING viewers to write in to them via email.  I suspect no one is writing because no one is watching.

Mon, 07/18/2011 - 18:30 | Link to Comment FinalCollapse
FinalCollapse's picture

Play Cramer to your kids, and tell them it's "Barney the Dinosaur". They will not notice the difference.

Tue, 07/19/2011 - 03:14 | Link to Comment StychoKiller
StychoKiller's picture

I understand your comment, but you shouldn't lie to your children like that, instead call him "Baldy the Blarneysaur!"

Mon, 07/18/2011 - 19:44 | Link to Comment theinebriatedsot
theinebriatedsot's picture

don't forget Dickhead Kudlow....

Mon, 07/18/2011 - 17:31 | Link to Comment karzai_luver
karzai_luver's picture

Just doing Gods work.

 

teach them to fish and all that.

 

Mon, 07/18/2011 - 17:33 | Link to Comment Franken_Stein
Franken_Stein's picture

 

Here in Germany, when you lose bigtime, you are being awarded the so-called "Zonk", which is a little furry red mouse !

 

That Zonk figure stems from a TV game show, where a candidate would always be presented envelopes or portals to choose from, behind some there'd be a big prize, behind others, well, the Zonk, or dead loss.

 

http://www.youtube.com/watch?v=uKpTkBddyK8&NR=1

 

Mon, 07/18/2011 - 17:42 | Link to Comment Franken_Stein
Franken_Stein's picture

 

Oh, I found out that's a remake of the American game show "Let's make a deal".

Interesting, didn't know that.

 

Mon, 07/18/2011 - 17:44 | Link to Comment Caviar Emptor
Caviar Emptor's picture

Monty Hall rides again

Mon, 07/18/2011 - 17:34 | Link to Comment Eireann go Brach
Eireann go Brach's picture

I think he could run Obamas lemonade stand when the great one is off golfing!

Mon, 07/18/2011 - 18:26 | Link to Comment trav7777
trav7777's picture

onetime would shut them down for lack of a permit

Mon, 07/18/2011 - 17:35 | Link to Comment Clark80
Clark80's picture

And for those confused, the "B" stands for Buy.

 

No, no; aBort!

Mon, 07/18/2011 - 17:36 | Link to Comment equity_momo
equity_momo's picture

Reminds me what fun could be had with a Bloomberg terminal and a quiet Friday afternoon.  I can show you ANR screens that make Bove's BAC stubborness look decent (well i cant anymore , i quit to become a monk)

 

To anyone that has never worked on Wall St and thinks analysts are useless bags of shit :  shit can be used as fertilizer ; these fuck-ups couldnt even be used to help your garden grow.

Farcical.

Mon, 07/18/2011 - 17:39 | Link to Comment WilliamShatner
WilliamShatner's picture

Lovin' my January $10 puts on BofA

Mon, 07/18/2011 - 17:43 | Link to Comment Ned Zeppelin
Ned Zeppelin's picture

Well, this graph makes it pretty clear just who it is that Mr. Bove serves.

Mon, 07/18/2011 - 17:52 | Link to Comment MsCreant
MsCreant's picture

Those flames, remind you of....Satan?

http://www.hark.com/clips/gjqhdbbknn-church-lady-satan

Mon, 07/18/2011 - 17:43 | Link to Comment NOTaREALmerican
NOTaREALmerican's picture

Maybe he meant the "B" as Bove, not buy. 

Mon, 07/18/2011 - 17:46 | Link to Comment Caviar Emptor
Caviar Emptor's picture

MSM used Bove as their primary prophet of limitless optimism back in the dark days of late 08-09. 

Everytime it couldn't get more at odds with reality, it did. Until, of course, it won't

Mon, 07/18/2011 - 17:53 | Link to Comment dogismyth
dogismyth's picture

What??  No article on the blowout earnings by IBM?  I guess its all doom and gloom here at ZH.

Mon, 07/18/2011 - 18:23 | Link to Comment d00daa
d00daa's picture

Oh please tell me you're a buyer @ 178.

IBM had "blowout" earnings through Q308 too...

Mon, 07/18/2011 - 17:55 | Link to Comment ShankyS
ShankyS's picture

Now that chart is funny. I say let him borrow a clock or two from flav-a-flav and call him Pumpmaster DB feat. BofA

Mon, 07/18/2011 - 18:03 | Link to Comment leftcoastfool
leftcoastfool's picture

Dick Bove is a regular laugh riot...

Mon, 07/18/2011 - 19:53 | Link to Comment francis_sawyer
francis_sawyer's picture

The "laugh riot" title belongs to Tyler...

"Hist(o/e)rical" is an instant entry into the hall of fame pantheon of... (WTF do you call those 'made up' words that gain instant recognotion?)...

I'll add a wimpy offering to the genre...

"Re-MEMBER dick bove" (if you had 2 think about it - it 'whizzed' over your head)...

Mon, 07/18/2011 - 19:55 | Link to Comment francis_sawyer
francis_sawyer's picture

The "laugh riot" title belongs to Tyler...

"Hist(o/e)rical" is an instant entry into the hall of fame pantheon of... (WTF do you call those 'made up' words that gain instant recognotion?)...

I'll add a wimpy offering to the genre...

"Re-MEMBER dick bove" (if you had 2 think about it - it 'whizzed' over your head)...

Mon, 07/18/2011 - 19:58 | Link to Comment francis_sawyer
francis_sawyer's picture

Past that... The real question is... "what does the X stand for in his name & what does Jr. think of his calls"?

Mon, 07/18/2011 - 18:08 | Link to Comment Tuffmug
Tuffmug's picture

"B" is Wall Street's abbreviation for "BS".

Mon, 07/18/2011 - 18:20 | Link to Comment Johnny Yuma
Johnny Yuma's picture

Now I know where to put my buy stop on my short BAC position!

Mon, 07/18/2011 - 18:33 | Link to Comment FinalCollapse
FinalCollapse's picture

BAC is awarded the ranking of five dicks. 

Mon, 07/18/2011 - 18:37 | Link to Comment Aductor
Aductor's picture

Hilarious. His buy recommendations have a correlation of nearly 1.0 to the stock price (i.e. always buy, no matter what).

Mon, 07/18/2011 - 18:50 | Link to Comment mark mchugh
mark mchugh's picture

Let us take a moment to review Bove's Trade of a Lifetime!!!!!!

Citi - March of 2008 (you can't make this shit up)

http://www.cnbc.com/id/23522110/Trade_Of_A_Lifetime

His split-adjusted price target is $550

 

P.S. Najarian's a tool too.

Mon, 07/18/2011 - 18:57 | Link to Comment no life
no life's picture

Bove Dick, bitchez.

Mon, 07/18/2011 - 19:07 | Link to Comment steelhead23
steelhead23's picture

I'm certain Dick is waiting for the upcoming debt for equity swap before he cashes in his puts.  Do you seriously believe he is long BAC?  After all, if a Moody's rating is merely "opinion", surely Dick must be held faultless for leading lambs to the slaughter.

Mon, 07/18/2011 - 19:23 | Link to Comment Thorsten Veblen
Thorsten Veblen's picture

On the other hand, sooner or later it'll be the right call...

Mon, 07/18/2011 - 19:54 | Link to Comment PulauHantu29
PulauHantu29's picture

Did you mean, "Hysterical" BAC Target?

Mon, 07/18/2011 - 20:40 | Link to Comment glenlloyd
glenlloyd's picture

I could do just as good a job and I would only ask for half as much...I think...btw, how much does this jackass earn in a year?

Mon, 07/18/2011 - 21:11 | Link to Comment janus
janus's picture

i get it, this is like that simpsons episode where bart, through a bit of bartesque chicanery, finds himself in the 'special' school: during a geometry lesson the teacher gives the answer as (radius X diameter)Radius squared...and then does this 'don't ya get it face'; further simplifying the matter for bart, who's still baffled by the laughter flowing in from all sides, she says RDRR...bart still blank...and then har-dee-har-har.

so i get it, RDRR.

no, i do get it; it just takes me a while.  I think i overthink these charts.  Stop thinking, let things happen, and be the chart.

Mon, 07/18/2011 - 21:24 | Link to Comment knowless
knowless's picture

i'm stealing hist(o/e)rical.

Mon, 07/18/2011 - 23:11 | Link to Comment bluelou
bluelou's picture

Ease up.  No buy-sider uses a sell-side price target or rating for an investment decision.  Bove probably wouldn't even put a price target out there if his firm didn't require him to do so.  The only clients who care about a rating are the ones that are already long.  

Tue, 07/19/2011 - 07:39 | Link to Comment dcb
dcb's picture

yes but if he sold at the right times it also looks like h could have made some good profits. (LOL)

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