Analyst's prescient call draw raves

All crises afford the opportunity for people to really make a name for themselves. Richard Bove, the analyst at boutique Punk Ziegel, was already a respected name. Certainly, the 66 year-old banking and brokerage analyst is a fixture in the press. As USA Today notes, his clients are thankful for his blanket downgrade of all his stocks on July 18. The next day the major indexes reached their highs for the year. Since his "sell" was issued, shares of the five top investment banks have fallen precipitously. This is how legends are made frankly. I'm sure he's taking a fair amount of ribbing in the office. For what it's worth, Bove remains bearish on the top banks and the market as a whole. Most hope he's wrong this time. But at some point, he'll have to get his clients back in the game.  

For more:
- here's the article