The last time an opportunity of this nature existed to buy banks stocks this cheap was in 1990. The next time will be in 20 years. This is a once-in-a-generation opportunity.
– Dick Bove, Financials Analyst, Punk Ziegel, “The Financial Crisis Is Over” (subscription required), Wednesday March 19
In a very bold call out last night, respected Punk Ziegel financials analyst Dick Bove called a bottom in the financials. And he’s not hemming and hawing. He is calling this a “once-in-a-generation opportunity”. Wow.
In his note, he says that the collapse and bailout of Bear Stearns is the defining moment.
I disagree but this certainly gets my attention.