As you may have heard, Meredith Whitney has lately been saying that we’re going to be looking at the scariest environment imaginable when as many as 50 to 100 cities and other municipal issuers will supposedly default on their debt this year. Charlie Gasparino, however, is suspect. No one he knows has seen a copy of Whitney’s report (entitled “State Budgets: The Day of Reckoning”) and until he gets a peak and can evaluate it, Chaz doesn’t think we should be buying what this broad is selling.
All we really know about the report is its overheated title — “State Budgets: The Day of Reckoning,” and what Whitney will disclose about her research, and methodology, which so far ain’t much. No one I know in the municipal bond market has even a bootlegged copy.
Seeing the actual report might give us some idea why she thinks defaults might surpass levels over the past year not seen since the Great Depression — a pretty outlandish claim when you think of it — considering the general improvement of the economy. Seeing the report will also give the investing public some indication about Whitney’s own motives in making such claims. Has Whitney or her firm invested in municipal bonds or are they shorting the market (betting it would fall)?
Regulators expect market positions to be disclosed in research — even the proprietary kind that’s not released to the general public. On its face, there’s nothing wrong with Whitney taking a market position, but if she or her firm is short the market, it gives us some more insight into her call and why it’s so aggressive.
CG wants his insight and he wants it now. If he doesn’t see a copy of this thing by COB today, the receptionist at the Meredith Whitney Advisory Group can expect a visitor.
This man paid me with a personal check for my report, which subsequently bounced. He is a has been who now owes me $1000.
~M.W.
when MW opens up, things could look hairy
imagine the love child that would come of one night of passion following chaz’s decision to break into the building.
Wait . . . what? “shorting” the market means you’re betting it will fall? Goddammit, I guess I need to adjust my proprietary trading algorithm.
how long before it comes out that CS is the father of The Situation?
how long before it comes out that CS is the father of The Situation?
He looks so regal with that 6230 BlackBerry model.
The broad based reporting has left out much of the detailed facts and the media has allowed this nice to see someone in the media finally doing their job! Thanks Charlie
someone ought to explain to chaz that machine bench press does not count when posting your max chelseamuscleheads.com
While a picture’s usually worth a 1000 words, a picture of Gasparino’s worth 250 max–all monosyllabic.
Work pays for a Bold, but I still tote my 6230 on a personal plan. It’s so vintage.
These types of reports can be found on Atlantic Avenue & Pacific Street in front Jake’s Wine & Liquor all the time. It’s no big deal.
These types of reports can be found on Atlantic Avenue & Pacific Street in front Jake’s Wine & Liquor all the time. It’s no big deal.
He looks like the type that makes a lunch reservation for 2 and then mashes out on his BlackBerry for 20 minutes, complete with animated reactions to his inbox, before telling the waitress that his guest won’t be making it. Only there was no guest. He was sending BBMs to himself for that 20 minutes.
He looks like the type that makes a lunch reservation for 2 and then mashes out on his BlackBerry for 20 minutes, complete with animated reactions to his inbox, before telling the waitress that his guest won’t be making it. Only there was no guest. He was sending BBMs to himself for that 20 minutes.
He looks like the type that makes a lunch reservation for 2 and then mashes out on his BlackBerry for 20 minutes, complete with animated reactions to his inbox, before telling the waitress that his guest won’t be making it. Only there was no guest. He was sending BBMs to himself for that 20 minutes.
He looks like the type that makes a lunch reservation for 2 and then mashes out on his BlackBerry for 20 minutes, complete with animated reactions to his inbox, before telling the waitress that his guest won’t be making it. Only there was no guest. He was sending BBMs to himself for that 20 minutes.
No one’s seen it because the Dollar Dominatrix doesn’t give away her goods for free. You’ve got to pay up! And her sh*t ain’t cheap.
No one’s seen it because the Dollar Dominatrix doesn’t give away her goods for free. You’ve got to pay up! And her sh*t ain’t cheap.
I agree with Chaz on this, I think MW is full of shit
Who’s this midget on the pic? Chaz looks so big on TV.
Tell her to short muni bonds…. see what she says to that.
let’s see, MW with AUM of $0 says short the muni’s. David Kotok ($1.5 billion AUM), David Rosenberg (long time bear, min $3 millon to open account) and Citi (okay, maybe not so credible) are saying to buy…
If she is shorting the muni-market while going on 60 minutes to talk of wide-spread defaults, someone should look into that. To me, it doesn’t look right on the face of it.
Of course she doesn’t give it away- neither do most third-party research providers. However the fact that nobody– and Chaz for once is right about this– but NOBODY that you talk to in the dealer/buyside community has seen a copy of the damn thing is downright wierd.
-muni guy
Spock is Back!!!!
Epic FAIL
isn’t mer a research advisor? so, she sells research…
she’s not running money for anyone
isn’t mer a research advisor? so, she sells research…
she’s not running money for anyone
maybe chaz should become a client
“Meredith Whitney Securities LLC provide issuers with guidance in positioning, structure, and execution of transactions across the capital structure. As a certified Women’s Business Enterprise firm, Meredith Whitney Securities is also able to add diversity to a syndicate while providing best-in-class advisory work”
So it would appear she does (or is attempting to do) more than just sell research…
“Meredith Whitney Securities LLC provide issuers with guidance in positioning, structure, and execution of transactions across the capital structure. As a certified Women’s Business Enterprise firm, Meredith Whitney Securities is also able to add diversity to a syndicate while providing best-in-class advisory work”
So it would appear she does (or is attempting to do) more than just sell research…
“Meredith Whitney Securities LLC provide issuers with guidance in positioning, structure, and execution of transactions across the capital structure. As a certified Women’s Business Enterprise firm, Meredith Whitney Securities is also able to add diversity to a syndicate while providing best-in-class advisory work”
So it would appear she does (or is attempting to do) more than just sell research…
“Meredith Whitney Securities LLC provide issuers with guidance in positioning, structure, and execution of transactions across the capital structure. As a certified Women’s Business Enterprise firm, Meredith Whitney Securities is also able to add diversity to a syndicate while providing best-in-class advisory work”
So it would appear she does (or is attempting to do) more than just sell research…
“Meredith Whitney Securities LLC provide issuers with guidance in positioning, structure, and execution of transactions across the capital structure. As a certified Women’s Business Enterprise firm, Meredith Whitney Securities is also able to add diversity to a syndicate while providing best-in-class advisory work”
So it would appear she does (or is attempting to do) more than just sell research…
“Until he gets a peak and can evaluate it, Chaz doesn’t think we should be buying what this broad is selling.”
That holds good for the UBS ladies in the sauna at Equinox as well.
- C.G.
“Until he gets a peak and can evaluate it, Chaz doesn’t think we should be buying what this broad is selling.”
That holds good for the UBS ladies in the sauna at Equinox as well.
- C.G.
“Until he gets a peak and can evaluate it, Chaz doesn’t think we should be buying what this broad is selling.”
That holds good for the UBS ladies in the sauna at Equinox as well.
- C.G.
“Until he gets a peak and can evaluate it, Chaz doesn’t think we should be buying what this broad is selling.”
That holds good for the UBS ladies in the sauna at Equinox as well.
- C.G.
“Until he gets a peak and can evaluate it, Chaz doesn’t think we should be buying what this broad is selling.”
That holds good for the UBS ladies in the sauna at Equinox as well.
- C.G.
Is there something wrong with that?