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Lunchtime Links: Well known equity researcher is still working, aged 69, accompanied by dogs and grandchildren

Now that opportunities for early retirement have been diminished by bonus deferrals, pay compression, and falling bank stock prices , it will probably be necessary to work later in life.

Dick Bove, the feted US equity research analyst, shows how this might be done. The New York Times reports that Bove's still working, aged 69, for a small boutique firm, based out of a home office in Florida with 'grandchildren and dogs cavorting outside his door.'

Less happily, although Bove 'really likes' what he does and has been doing it for the past three decades (itself proof that you don't necessarily have to make a name for yourself before you're 30), he doesn't have much choice but to keep going. The NYT points out that he's racked up $800k in legal fees. His previous employer left him to defend himself in a defamation case brought by a bank which claimed he'd wrongly implied it was going under. Fabrice Tourre clearly has reason to be immensely grateful to Goldman for paying his legal bills.

AVP salaries up 12% on last year. (Reuters)

Banks WON'T be obliged to list their big earners in 2010. (Financial Times)

Investment banks have emerged from the financial crisis with only 15% lower revenues than 2007, and higher margins. (Financial News)

Despite acquiring ex-Lehman, Nomura's wholesale banking revenues have fallen 10% compared with Nomura's standalone business in 2007. (Financial News)

FM Capital Partners, a Libyan hedge fund in Knightsbridge, wants to assemble a team of 40. (Financial Times)

Goldman wants to restock its quantitative investment group. (New York Post)

60 Goldman partners could be 'de-partnered' this year. (New York Times)

Morgan Stanley trader who lost $9bn is reviving career, slowly. (Wall Street Journal)

Bob Diamond started his career in the IT department. (Sunday Times)

Murdered British spy was working on the prevention of cyber attacks on the banking system. (Telegraph)

Brazilian boutique BR Advisory Partners wants to hire 55 people (in Brazil). (Telegraph)

If you're a household making $250,000 or more, you're easily in the top 5 percent -- even in New York City. (Washington Post)

Adam the analyst, part II. (Wall Street Oasis)

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AUTHOReFinancialCareers UK Insider Comment
  • yo
    yourgrandma
    13 September 2010

    Damn! I kind of liked the guy and admired that he still workes even being a man of age. I had no idea he is pulling this kind of tab. Anyway, does anyone know how he could be held liable, sued, for what obviously seems to be his job?

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