Banking & Finance
Sign Up for free News Alerts
Meredith Whitney on the US bank profit illusion
Posted on 14 May 2009 with no comments from readers
The crazy performance of US bank stocks is due to no fundamental improvement in underlying earnings and entirely down to government intervention. Consumer spending is still contracting and the government can not contradict this trend. Absolutely do not own these stocks which are going down, says the leading US bank analyst. Short retailers as the bear market rally crashes, she adds. Or hold on to cash for better opportunities later in the year.
Posted on 14 May 2009
Categories: Banking & Finance, Bond Markets, US Dollar, US Stocks, Video Channel
no Comments posted by readers:
I try to read/ absorb as much as I can from Meredith Whitney.
In a nutshell, as a bank analyst, she’s a breath of fresh air! Objective, intelligent, and one of the very few who have not been “bought out” or muzzled by the government or the commercial propaganda crowd.
Flashback to mid 2008:
Isn’t it interesting how the media were severely criticizing her last summer for her “outrageous” assessments on the massive problems within the financial sector & near insolvency of banks!
She’s now the Sage of This Financial Crisis!
Footnote: when she talks, we’d better be listening.
Wow, so Citi tripled from $1 to $3.50, BAC tripled from $4 to $12 etc. And where was Meredith all this time? Giving bad advice, as usual.
MM is smart mark to market is bulls s..t A $500,000 HOUSE WERE THE BANK LOANED OR ACORN FANNY FREDDY NOW WORTH$250,000 IS STILL ON THEIR BOOKS FOR $500,000 KEEPING THE BANKS PROPED UP ITS A HOUSE OF CARDS AND THIS HOUSE IS BIG AND COMPLEX AND MUST FALL TO GET BACK TO REALITY