Friday, June 10, 2011

Dick Bove Does an About-Face on Goldman (GS)

For the life of me I'd swear that Rochdale told Dick to shut up and not pronounce publicly what the firm's clients are paying for.
From DealBook:
Richard X. Bove, one of the most bearish stock analysts covering Goldman Sachs, has had an about-face on the firm’s role in the credit crisis.

“It is becoming increasingly apparent that a terrible wrong may have been done to Goldman Sachs,” Mr. Bove, a Rochdale Research analyst, wrote in a recently released report on the big Wall Street firm. “Evidence is now mounting that the company did not have a net short position at a crucial time under study and that the Senate Committee may have misread the numbers.”

Nonetheless, Mr. Bove is keeping his “sell” rating on Goldman’s stock....MORE