Anyone Who Still Listens To Dick Bove Should Look At These Two Charts
We like Dick X Bove. He is a funny guy. After all, who doesn't like Dick appearing every day on CNBC. Yet comedic value is all one should hope to extract out of Dick. The problem is that anyone who has listened to Dick over the past 5 years, is most certainly bankrupt, in some cases twice over. While we will ignore his Buy upgrade on Lehman days before the bankruptcy, below we have shown two simple charts ever since his move from Ladenburg (which he left for obvious reasons in the Lehman aftermath), to Rochdale. The first chart shows the price of Bank of America, together with Dick's buy recos (green) and his price target. The second chart shows how Dick has performed compared not to the market, but to his peer group! In other words, while he has been massively wrong on stock calls, one would think he may at least be in line with his permabullish cheerleaders. No. In fact, he has underperformed his peer universe by 25% in the past two years. As for anyone who has listened to his Buy reco on Bank of America... well, do the math.
Dick and BAC:
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