Is Meredith Whitney a One Trick Pony?

By iamned - Last updated: Saturday, May 16, 2009 - Save & Share - Leave a Comment

Meridith’s Claim to fame was was writing a pessimistic, but accurate, report on Citigroup, on Oct. 31, 2007, which got her attention from many Wall Street analysts, and news media. To capitalize on her new found glory on February 18th she left her sell side job at Oppenheimer to start her own firm.

She appears frequently on CNBC, Fox Business and Bloomberg News programs.

Here are some of her recent statements from a CNBC appearance

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I’m afraid she’ll be eating her words. Her latest screed is nothing more than a aggregation of leftist platitudes. Economics and sociology don’t mix. If main street is suffering that doesn’t mean wall street has to suffer, too.

Some of here statements are just plain stupid such as

expected and you’re still going to have consumers not spend money …

Huh? Ever hear of the i phone? Who’s buying them? Consumers. How about net books? Consumers. Has she ever looked at a chart or is she too busy putting on mascara?

If her professional duty is to destroy wealth, yes, she’s doing a good job of it. Her initial report triggered this whole bear market costing investors billions, so you can understand why some people don’t like her too much. As this bull market propagates her underwater investors will demand an explanation, and she’ll have no resource but to disclose her ineptness.

On a related note, I’m none too fond of Krugman or Roubini.

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