Thursday, January 13, 2011

Dick Bove: Banking Industry Entering Another "Golden Age"

"There's so much cash in some of the banks in the United States that they're actually selling at below their cash value per share.

What that means is that these companies now have tremendous amount of liquidity, which ultimately can be put to use to generate further earnings growth. And I think for the next two to three years, what you will see is that banks will actually increase their earnings at about a 20 percent rate per year, which will be far faster than what you're going to see from the industrial averages."

Dick Bove

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