People got all upset because they don't like to see people they know getting pushed out, and they don't know the new people coming in, ... But this company has been underperforming for some time. Significant change is needed.
More Quotes from Richard Bove:
It would have been difficult for Goldman not to do well. Goldman is more oriented to equities than debt, and stocks rose throughout the period.Richard Bove
Midwestern banks are accustomed to shifts in the local economies. They plan for it. However, they do not avoid it. They get hurt. Their loan losses rise. Their earnings tumble and their stock prices are impacted. It will happen again.
Richard Bove
Trading is the biggest business in the world, one of the fastest-growing and one of the best, and Merrill has been behind the curve here. This quarter shows that Merrill is catching up to where it needs to be.
Richard Bove
It's a significant amount of stock coming to market. But it's a pretty liquid stock and they've been buying back shares over time. We don't think the impact will be that significant over the long run.
Richard Bove
This transaction, if it occurs, would be a major plus for the company.
Richard Bove
The problems in the credit card division are structural, and kind of long-term,
Richard Bove
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He that respects himself is safe from others. He wears a coat of mail that none can pierce.
Henry Wadsworth Longfellow
Sad things happen. They do. But we don't need to live sad forever.
Mattie Stepanek