Dick Bove: Bank Of America Has To Prove It Can Actually Make Money

Rochdale’s Dick Bove was on Bloomberg speaking with Margaret Brennan this morning, and he shared three interesting points thoughts on financials after this week’s round of earnings.

  1. He said Morgan Stanley was the best of the brokerages, citing its improved trading numbers.
  2. Bank of NY, said Bove, has a capital structure so strong that it’s a cheap stock to own.
  3. As for Bank of America, which he started riffing on around the 2:00 mark of the video below… “This company is not going to have to issue capital. It’s well capitalised… Bank of America has proved it can be there for the long hall, now its got to prove it can make money.”

Watch his whole interview below: