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Dick Bove's "Unique Research Product" No Longer To Be Used As Bathroom Reading Following Crack Down On Illicit Distribution

Tyler Durden's picture




 

Apparently someone in the world cares about Dick Bove's prophetic effluvium. Either that, or the worst contraindicator in the stock market (buy Lehman, 'nuf said) believes that nowadays, (following in the footsteps of other financial pundits), it is much better to be famous for being famous, than for being right, or in Dick Bove's case, wrong. Either way, for those who actually seem to derive stock trading advice out of intellectual titans like Bove et al, your lives are above to get much more difficult, as Bove is about to go RIAA on your ass. Whatever happened to Bove's threat that he would be providing instanalysis much less (and many hoped, not at all) after his disastrous read of Wells results earlier got him in hot water following a CNBC appearance. For an even playing field, it only makes sense that Dick Bove no longer publishes or "analyzes" anything anymore, period.

Dow Jones reports "Research by prolific banking analyst Dick Bove won't be as widely available for at least the rest of the year and possibly longer, as his employer aims to preserve its value. " More on this loss of "value" to mankind:

Selected reports will be available to the media on a case-by-case basis. But the full research reports will no longer be readily available to reporters and other non-clients, Bove said Monday.

"The information is getting to [people] who are not paying," Bove, of Rochdale Securities, told Dow Jones Newswires by phone Monday. "It's weakening our whole approach to how we want to price the product."

Broad distribution is being ended for at least the rest of 2009 and is under review for afterward, so that "paying customers will recognize they are getting a unique product," Bove said.

Very unique indeed. Which is why the man seems to send out a constant stream of tweets on an almost daily basis.

 

We fell sad for not only CNBC viewers who no longer see Mr. Bove's bullish expression on TV (we obviously meant that he tends to be bullish, not that he looks like a bull), but for Mr. Bove's throng of almost 330 followers on Tweeter who will likely also be denied any pearls of financial wisdom going forward. Presumably these are the same people who needed today's downgrade by Bernstein of AIG to sell their shares in the bankrupt company. By the way, we do not find it too surprising that Mr. Bove seems to himself derive intellectual capital out of such content providers as Research Recap and StockTwits.

 

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Mon, 11/30/2009 - 15:35 | 146513 BrianOFlanagan
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thanks for the laugh

Mon, 11/30/2009 - 15:41 | 146524 mannfm11
mannfm11's picture

Who says people taking his advice aren't paying? 

Mon, 11/30/2009 - 15:56 | 146551 Anonymous
Anonymous's picture

Losing your shirt is a form of "payment".

Mon, 11/30/2009 - 16:09 | 146577 Anonymous
Anonymous's picture

Haha. Nice!

Mon, 11/30/2009 - 16:07 | 146572 zero_beta
zero_beta's picture

Thats not Bove's Twitter account.  I believe that is a Twitter account of Alacra.

Mon, 11/30/2009 - 16:19 | 146590 Miles Kendig
Miles Kendig's picture

Pricing power of Bove's research at Rochdale might well be enhanced if it were distributed under the auspices of 501(c)3 since to refer to Bove's product as having any commercial value, outside of a source for contrarian fodder is charitable indeed.

Mon, 11/30/2009 - 16:21 | 146598 Anonymous
Anonymous's picture

go RIAA on your ass
---------------
? whats that?

Tue, 12/01/2009 - 01:36 | 147290 Hephasteus
Hephasteus's picture

That's where you take a bunch of lawyers give them a bajillion hours of legal training and then let them put the beat down on a college student who downloads a song or a grandmother who doesn't know how to secure her internet. It's like the intellectual version of a brute squad.

Mon, 11/30/2009 - 16:32 | 146618 Big Al
Big Al's picture

Always thought that "his bullish expression on TV" indicated that he was full of bull.   

 

Mon, 11/30/2009 - 16:51 | 146651 ewmayer
ewmayer's picture

Since Bove is so clearly concerned about people paying "fair value" for the results of his diligent research and market-critical analysis, I find it noteworthy that "Rochdale Securities" is an anagram of "Douche Articles Rise".

 

Mere coincidence?

Mon, 11/30/2009 - 18:53 | 146859 tomdub_1024
tomdub_1024's picture

ROFL...+1

Mon, 11/30/2009 - 16:57 | 146667 Anonymous
Anonymous's picture

"effluvium"...nice. i'll have to look that one up.

Mon, 11/30/2009 - 17:00 | 146673 deadhead
deadhead's picture

i wonder how much the Fed spent just in the last hour buying common stocks of bac, wfc, jpm, etc.....

this is simply a comedy act....we make the former ussr look like an open society.

i am going to join the others who are going to just stop participating in the us equity markets....

 

Mon, 11/30/2009 - 17:07 | 146693 Screwball
Screwball's picture

Don't forget the REIT's.  I'm with you on stopping.  This is such bullshit.  Turn on CNBC and it gets batshit bullshit. :-)

Mon, 11/30/2009 - 17:41 | 146743 deadhead
deadhead's picture

screwball...i haven't watched cnbc since april and won't do it again until the markets and the us economy collapse, then i'll watch them for entertainment.

the action in the banks in the last hour on no volume, just like the past several months, is clearly Fed buying and I frankly don't give a phuck what anybody else says at this point.

I would be delighted to be proven wrong....just give me a comprehensive audit of the Fed balance sheet AND cash flows over the past one year and the results will tell the story.

 

Mon, 11/30/2009 - 17:56 | 146766 Screwball
Screwball's picture

I'm with you DH.  I feel like I'm at an AAA meeting confessing watching CNBC, but like a wreck about to happen, I can't help myself.  Plus, I can yell and scream at them and feel better at the same time.  You have to blow off a little steam.  Looking at the comments today, we the people are getting a bit testy.  Marla's been out of her cage a couple of times.

 

Marla writes, Marla spins, and Marla has kicked some ass today.  You rock Marla.

Mon, 11/30/2009 - 18:31 | 146830 deadhead
deadhead's picture

that mental image of Marla in a cage.....hmmmm.

c'mon Marla, pics.

Tue, 12/01/2009 - 11:35 | 147630 thewhigs
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deadhead, I still think Rick Santelli, Art Cashin are worth watching....also, I like Mohammad El-Arian (Pimco)....he says it like the way it is and frequents CNBC.....the others...well, I could care less and they try so hard to be "serious financial journalists" that its almost funny-though Bob Pisani isn't too bad.

Mon, 11/30/2009 - 17:09 | 146696 Dixie Normous
Dixie Normous's picture

I get all my cues from watching shares of DRN. A tremendous last hour of the month ramp job today.

Mon, 11/30/2009 - 17:11 | 146701 spekulatn
spekulatn's picture

Me too dh. Closed out all positions at the close today.

 

Mon, 11/30/2009 - 17:47 | 146755 deadhead
deadhead's picture

i'm a little underwater and i'll wait it through til we correct (we will, and i'm a swing trader anyways, not caring too much about this day to day nonsense) then i'll get out and only do a few select trades. 

i am still primarily bothered by the approach taken by the u.s. govt/Fed complex (Fed independence, yeah, that's right...my ass) which is destroying the future for our kids.

these people are liars, con artists, frauds and it will be proven. then, no one will take responsibility, everyone will point fingers, and the banking oligarchy will end up with the money after phucking every american up their ass like they are doing now.  i'm particularly sickened by the fact that the rule of law concept has become a joke and our so called regulators continue to look the other way.

 

the usa is turning into a bigger piece of shit and it pisses me off.  i have advised my children of this and have suggested that they consider other places to spend their lives outside of the usa becuase there are certainly better places.

i never dreamed in my wildest dreams as a mid 50s person that i would ever think or say this but the facts are the facts and i will not allow myself to put my head in the sand and go along with the lies and fraud.

Mon, 11/30/2009 - 18:59 | 146866 tomdub_1024
tomdub_1024's picture

I sometimes get hopeful that we can take back our middle-class jobs, our freedoms, etc., yada,yada... and I slide back to the 1st stages of grief...denial/bargaining....then I spent 20-30 minutes in a Walmart (I don't buy anything, I just use it as a reality check from time to time) checking the products, where they are made, the people shopping there, the people working there...then I look at the markets, the politicians...then I am back to "F*ck it, it isn't worth saving or fighting for, it doesn't WANT to be anything other than what it is".

I wish the collaspe would just get on with it already...this Waiting for Godot shit is getting old...

*ugh*

Mon, 11/30/2009 - 20:18 | 146965 mannfm11
mannfm11's picture

Nothing like another several billion dollar hole in the boat is there?  There will be plenty more. 

Mon, 11/30/2009 - 17:11 | 146681 carbonmutant
carbonmutant's picture

The new edition will be printed on softer paper to improve its usefulness to a larger market.

Mon, 11/30/2009 - 17:11 | 146699 Trader Joe
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BWAHAHAHAHAHHAHA

He's scheduled to be on "Lost Money" tonight (Nov 30th)

With Merisa Rhee and the gang

Mon, 11/30/2009 - 17:23 | 146716 Lionhead
Lionhead's picture

Lionhead "says:"

1) Beware of any analyst, economist, or FED chairman with a beard. AKA Wall street "greybeards."

2) Beware of any analyst, economist, or technical analyst that "believes" he/she has the definitive answers to your burning questions. They don't.

3) Beware of gurus of any stripe or persuasion that make forecasts based on magical or delusional thinking. If they're right, it is sheer random chance.

4) Think for yourself & make your own conclusions; you are the "market."

Mon, 11/30/2009 - 17:40 | 146741 Budd Fox
Budd Fox's picture

If they pay him fair value his BS he is fekkin dead....finished!!

Mon, 11/30/2009 - 18:30 | 146827 Anonymous
Anonymous's picture

I found this thread amusing even tho I have no idea who Dick Bove is so I shan't comment. It'd be rude to caravan crash guffawing along as if I was old carny here when in fact I'm a depression ere carpetbagger on my way to hell.

-MobBarleyCorn

Mon, 11/30/2009 - 18:38 | 146841 Zippyin Annapolis
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The grabbing hands grab all they can all for themselves after all....it a competitive world.

 

Mon, 11/30/2009 - 19:12 | 146885 Anonymous
Anonymous's picture

"Presumably these are the same people who needed today's downgrade by Bernstein of AIG to sell their shares in the bankrupt company."

LOL - 'downgrade' means: trying to get a lower price for the guy in next cubicle.

Mon, 11/30/2009 - 20:21 | 146970 mannfm11
mannfm11's picture

You hit a home run there.  I have wondered why the 20 to 1 reverse split on something worth zero.  My theory is that it would move 20 times as fast each day to attract attention so the Wall Streeters could short more of it as they played around with it.  Not much risk shorting a stock worth zero when you control the support under the market. 

Mon, 11/30/2009 - 19:26 | 146903 Sqworl
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Crack down and bathroom in caption made me lol..

Mon, 11/30/2009 - 21:43 | 147057 Hysterisis
Hysterisis's picture

I had no idea that Dick used to be on the Dukes of Hazzard as Uncle Jesse.  A friend told me and I didn't believe it, you will have to see for yourself. 

https://www.transactionserver1.com/_images/UncleJesse.jpg

 

 

 

 

Mon, 11/30/2009 - 22:20 | 147067 Unscarred
Unscarred's picture

I have a problem with Bove's statement:

"The information is getting to [people] WHO ARE NOT PAYING"

Should have been shortened to:

"The information is GETTING TO [PEOPLE]"

Or better yet:

"The INFORMATION"

What a fucking DICK!

 

Mon, 11/30/2009 - 23:10 | 147146 Jim ODonnell
Jim ODonnell's picture

Please We Need CNBC And Its Market Advice

CNBC [ Sub of GE (Dead Corporation Walking)] and its approved market analists like Bove, Gartman and just about everyone else who appears on their show is necessary to make the markets "easy-pickins" for everyone else.

In addition, how could we ever survive without the "market twinkies" which add value to the disinformation spread on these market commentaries. The noted Leisman, Cramer and Kudlow [Kudzo] are genuine Drones in this hive and are consistant in their "reign-of-error."

The female twinkies have done more to destroy feminist advances than any male-chavuinist-pig could have ever dreamed of accomplishing. Even those who watch for the view of these reporters do so with the TV on mute to avoid be turned into a stone statue by these verbal Medusa's.

But beware as a new method of reporting "news" is being tested now on Bloomberg. These reports now use reporters who interview other Bloomberg reporters instead of preported news sources to dissiminate the "news."  

Tue, 12/01/2009 - 02:48 | 147345 Anonymous
Anonymous's picture

I hate this Government game as much as you all do, but I have a felling that we will never go down again to those levels. The US government will do anything to stop any major market action on the down side. Most of the US is become apathetic to the economic condition and are happy with "less bad" numbers. We are living in a third dimension for the time being!

Tue, 12/01/2009 - 04:15 | 147409 Privatus
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Dick Bove, The Original Woodland CreatureTM.

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