'Suspending Investing' Best Reaction to Debt Crisis: Bove

[dbt]

Until Washington resolves its debt ceiling impasse no investments are safe and investors should shed all positions in the stock market, banking analyst Dick Bove said Wednesday.

Bove, the Rochdale Securities analyst who has launched a series of stinging criticisms over the inability of Congress to get a deal done, writes in a note to clients that the increasing likelihood of no deal will have severe repercussions.

As such, he says, there is no safe-haven investment at the moment.

"It now makes sense to test the unthinkable," he writes. "Thus, for the moment I would suggest suspending investing since all stocks are likely to fall."

http://www.cnbc.com/id/43915240



Recommended Listening:

The Temptations "Ball Of Confusion"

http://www.youtube.com/watch?v=5Qh-8ZMoLeY



The Doors "Ship Of Fools"

http://www.youtube.com/watch?v=f7pqTd99mAw

:freak:

[masmdu]

1. Climb the wall of worry

[alcibiades_mystery]

2. Put your money in cash

(which will rapidly devalue...)

:rofl:

These people get paid for this nonsense?

[MattBaggins]

3. I wonder if this guy is simply trying to foment

so that he will be positioned to take advantage of a down market.

[Johonny]

4. +1