Posts filed under “Analysts”
I just read a research report from Dick Bove of Rochdale Securities that made me actually laugh out loud. It has the most irony impaired title I have ever read — the bold, all caps, title Bove penned was:
WILL IGNORANCE, DECEIT, AND RAGE DESTROY THE FINANCIAL SYSTEM?
Someone should tell the boy its too late for “ignorance, deceit and rage,” as the financial sector has already destroyed financial system . . .
I just have to ask: WTF do these people get their ginormous cojones from? Do they have a tailor on call to let out their inseam to make room for their balls ? Talk about unmitigated gall — a research analyst from Wall Street is upset over anger destroying the financial system. It would be funny if it wasn’t so god-damned pathetic . . .
Numerous Wall Street analysts, strategists, and economists over the years have managed to laden their commentary with references to their favorite bands, songs, sports teams, etc. It is all but unavoidable: Assume the average age of the senior echelons of most research departments are age 50-60; That leads us to a top level of management…Read More
Alcoa reported a Q4 2009 loss of $277 million loss, on lower sales and higher costs. Losses narrowed from a year ago when they were $1.2 billion dollars. Pro forma operating profits were 1 cent, missing analysts estimates of a 6 cent profit, and begging the question of HTF can you report a per share…Read More
Invictus is a bulge bracket asset manager with $100+ million AUM. He has no patience for money losers, hacks, partisans pretending to be financial analysts . . . this is the first in a series of critical looks at analysts, media, economists, financial TV. Feel free to share any thoughts in comments. Here’s Invictus: ~~~…Read More
I hereby invoke Bob Farrell’s Rule #9: When all the experts and forecasts agree — something else is going to happen. Let’s look at the forecasted year-end 2010 levels for the S&P500 and S&P500 earnings: Firm Strategist 2010 Close 2010 EPS Bank of America David Bianco 1275 73 Bank of Montreal Ben Joyce 71 Barclays…Read More
In today’s Baron’s, Mike Santoli discusses “A forecaster worth listening to sees more gains ahead.” He has penned missives such as “A Bear Is in Sight” and “Why This Rally Is Really Different” Santoli adds: This guy, though, is the one whose dispatches I saw as the very uncertain market trajectory took shape, illuminating the…Read More
> Interesting discussion on one of my favorite subjects — The Folly Of Forecasts — on NPR with Chicago/Austrian economist Russ Roberts, now at George Mason University. click here for audio > Previously: Apprenticed Investor: The Folly of Forecasting Barry Ritholtz TheStreet.com, June 07, 2005 http://www.thestreet.com/story/10226887/apprenticed-investor-the-folly-of-forecasting.html Source: The Folly Of Economic Forecasts NPR, December 7,…Read More
Invictus is a street insider, a long-suffering “lifer” whose close work with Wall Street research teams gives him unique insight into the current strategist spat. Enjoy: ~~~ It was noted back in October that a feud seemed to be simmering between the former Merrill Lynch Chief North American Economist David Rosenberg (now at Gluskin Sheff)…Read More
Barron’s Mike Santoli points out a short list of market myths that currently seem to have currency amongst the investing and chattering classes. The five are: • “The dollar is collapsing.” • “Portfolio managers are trailing the market and might need to rush into stocks.” • “The hoopla over Dow 10,000 shows that Wall Street…Read More
> Citigroup and BAC jump on Friday afternoon; JPM and then the S&P 500 followed: > > Stocks tanked on Friday with the ugly employment report. But stocks rebounded, led by a big rally in major banks stocks. Yesterday Goldie touted the big bank stocks. Did you get a Friday afternoon call? The S&P 500…Read More