Posted by rgoodwin on 22nd of Oct 2009 at 01:22 pm
Downgraded!
Early this morning banking analyst Dick Bove was on
television claiming Wells Fargo (WFC) was a great buy; that it
would add to handsomely to stock appreciation...blah, blah,
blah. Then Dick had an epiphany: WFC was a SELL!
It probably went something like this...
Hour 1 & 2: prep for television
Hour 3 &4: actually take the time to read the report
Hour 4.5: call an emergency meeting with trading desk and
share findings
Hour 4.5 to 5: call temp service to bring in telemarketing
staff
Hour 5 to 6: get on the phone with all institutional clients
to share opinion and sell stock and roll proceeds to NOV PUTS (told
clients earlier in the year this was a generational buying
opportunity)
Hour 6 and 8: let the trading desks work their magic
Hour 9: let the cat out of the bag
Ya think he'll be investigated by the SEC? Naaaah, me
neither.
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Great Analysis about WFC yesterday - Compliments of Larry Levine
Posted by rgoodwin on 22nd of Oct 2009 at 01:22 pm
Downgraded!
Early this morning banking analyst Dick Bove was on television claiming Wells Fargo (WFC) was a great buy; that it would add to handsomely to stock appreciation...blah, blah, blah. Then Dick had an epiphany: WFC was a SELL!
It probably went something like this...
Hour 1 & 2: prep for television
Hour 3 &4: actually take the time to read the report
Hour 4.5: call an emergency meeting with trading desk and share findings
Hour 4.5 to 5: call temp service to bring in telemarketing staff
Hour 5 to 6: get on the phone with all institutional clients to share opinion and sell stock and roll proceeds to NOV PUTS (told clients earlier in the year this was a generational buying opportunity)
Hour 6 and 8: let the trading desks work their magic
Hour 9: let the cat out of the bag
Ya think he'll be investigated by the SEC? Naaaah, me neither.