Well-known financial industry analyst Dick Bove of Rochdale securities was on CNBC's Kudlow report to discuss the U.S. presidential election, Romney as a president and his policy on big banks, the U.S. stock market, upcoming fiscal cliff and where he expects the S&P to be in near future.
-- Big bank model works, community banking model does not work.
-- Big bank bring liquidity and make more money than other stable companies across industries.
-- Likes Wells Fargo (WFC), Citigroup (C), Goldman Sachs (GS) and US BankCorp (USB).
-- Very optimistic about the stock market, he is a big believer in seasonal behavior of stock market and believes that it will rally before the year ends. He also believes the Fed provides regional easing and that will be a catalyst.
-- His S&P 500 target - 1555.
Here is the video:
-- Big bank model works, community banking model does not work.
-- Big bank bring liquidity and make more money than other stable companies across industries.
-- Likes Wells Fargo (WFC), Citigroup (C), Goldman Sachs (GS) and US BankCorp (USB).
-- Very optimistic about the stock market, he is a big believer in seasonal behavior of stock market and believes that it will rally before the year ends. He also believes the Fed provides regional easing and that will be a catalyst.
-- His S&P 500 target - 1555.
Here is the video:
