CNBC Stock Blog
- Portfolio Prep for Next Week: 'Don't Get Crazy'
- Strategists on Dubai: Avoid 'Rash Moves' Now
- Dubai Stock Market Fear Has 'Legs': Dennis Gartman
- Surprising Options Trades in TiVo Shares
- 10 Dividend Picks For Your Portfolio: Chief Investors
- 4 Thanksgiving Week Buys For Your Portfolio: Market Pros
- There's a 'Great Chance' For a Double-Dip Recession: Strategist
- Retail Earnings and Sales to Improve in Q4: Analyst
- 4 Food Stocks to Stuff in Your Portfolio: Analyst
- S&P at 1050-1200 Trading Range Next Year: Strategist
MOST SHARED
- Tiger Woods Out of Hospital After Accident
- The Good Entrepreneur Winner
- Get Paid Six Figures to Wear a T-Shirt?
- Global Selloff From Dubai Woes Shows Signs of Winding Down
- Halftime Report: Dubai - First Ripple Of Larger Crisis?
- Longer Lines, Fuller Carts This Black Friday
- Dubai Spooks Investors But May Bring Buying Opportunity
- Next Week: Cash In Now Or Wait For A Santa Rally?
- U.S. Stocks Fall on Dubai Worries
- Black Friday at Best Buy
- Strategists on Dubai: Avoid 'Rash Moves' Now
- Longer Lines, Fuller Carts This Black Friday
- Dubai Stock Market Fear Has 'Legs': Dennis Gartman
- Obama's Emission Reduction Pledge Paints Future for Autos
- Is Super Bowl Halftime Act Too Old?
- Surprising Options Trades in TiVo Shares
- EA Sports Hopes to Pump Up Sales Through Pop-Up Locations
- Global Selloff From Dubai Shows Signs of Winding Down
- Dubai Stock Selloff May Bring Buying Opportunity
- Longer Lines, Fuller Carts This Black Friday
- Tiger Woods Out of Hospital After Accident
- Dubai Fallout Is a Correction, Not Another Crisis: El-Erian
- Dubai's Debt Woes Signal New Era for Creditors
- Get Paid Six Figures to Wear a T-Shirt?
- The World's Biggest Debtor Nations
- Five Tips for Buying a Foreclosed Home
RSS FEED
Text Size 
CNBC News Associate
The quarterly reports for the big banks were terrible across the board, but stocks are up because the psychology and the method of valuing bank stocks have changed, said Richard Bove, financial strategist at Rochdale Securities. (See below for his stock picks — and pans.)
“Goldman Sachs had real earnings; JPMorgan had no earnings,” Bove told CNBC.
“JPMorgan saw its deposits, loans go down. It saw its margins go down, it saw its trading go down, it had big capital gains it had pulled out from somewhere to come up with a positive number.”
Bove said although he is also unsatisfied with Citigroup and Bank of America’s results, the markets are willing to accept the numbers because the method of valuing bank stocks has changed.
“So I’d still buy the stocks I have mentioned,” said Bove, “But you’re going to see terrible earnings out of every bank that reports because most of these banks do not have the benefit of capital markets activities. I’d say 50 percent of them are going to lose money.”
Recommendations:
Bove Likes:
Goldman Sachs [GS
Loading...
()
]
JPMorgan Chase [JPM
Loading...
()
]
Morgan Stanley [MS
Loading...
()
]
Bank of America [BAC
Loading...
()
]
Citigroup [C
Loading...
()
]
Bank of NY Mellon [BK
Loading...
()
]
Northern Trust [NRTS
Loading...
()
]
State Street [STT
Loading...
()
]
Data is a real-time snapshot *Data is delayed at least 15 minutes