BlackSwan

Dick Bove: Buy Banks, Avoid Brokers

Mr. Bove not only said late last year that Citi would not cut their dividend, but they would increase it in 2008 as a sign of strength. He has been recommending purchase of Citi since it was in the mid-thirties. I suspect his bearishness on Dimon's purchase of BSC will prove to be equally wrong. I should think that if Citi isn't substantially higher by mid or late year, Mr. Bove's career will be over, or, at least, deserve to be over.