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Strategies & Market Trends : Value Investing
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To: Ron Bower who wrote (8284)9/16/1999 1:24:00 PM
From: Wallace Rivers  Read Replies (1) of 78841
 
Ron: First, this was not a Downgrade. The stock had already been downgraded on 8/20/99 from Buy - 1 to Accumulate - 2. He (Dick Bove) downgraded a host of other financial services firms at the same time, mostly to Hold - 3.
Monday, he only took his numbers down from .55 to .15 for upcoming Q. The primary culprit, in his opinion, is softness in principal transactions.
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