Dick Bove, Famed Banking Analyst Now Retired, Says Dollar Is ‘Finished’

Over his 54 years as a financial analyst, Richard X. Bove perfected the art of grabbing attention.

Through thousands of newspaper interviews, cable news appearances and radio segments, Mr. Bove turned what can be a dull, by-the-numbers career into a more showy one. Weighing in on the economy and the inner workings of Wall Street, he often bucked conventional wisdom and made enemies along the way. By his own recollection, he never turned down a media request; American Banker once called him “the country’s most quotable bank analyst.”

Last week, a few hours after completing a spot on Bloomberg television, the 83-year-old announced his retirement. He took that weekend off — and then jumped right back in. In an interview with The New York Times, Mr. Bove (pronounced “boe-VAY”), who goes by Dick, shared a dire outlook on the U.S. economy and his former profession.

“The dollar is finished as the world’s reserve currency,” Mr. Bove said matter-of-factly, perched in an armchair outside his home office just north of Tampa, from which he predicted that China will overtake the U.S. economy. No other analysts will say the same because they are, as he put it, “monks praying to money,” unwilling to speak out on the mainstream financial system that employs them.

Many analysts are rewarded for coming up with unique but inconsequential and “arcane” ideas, he said, peppering his criticism with profanities. Mr. Bove worked at 17 brokerage firms during his career.

As he spoke, a technician was trying to restore his home internet after his final employer, the boutique brokerage Odeon Capital, pulled the plug on his last day.

Mr. Bove, who began his career before A.T.M.s were commonplace, began appearing in the media in the late 1970s, when he was a construction industry analyst with pessimistic views on homes that didn’t always pan out.


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