Meredith Whitney is a banking analyst made famous by downgrading Citigroup in late October 2007, saying that the bank was facing a $30 billion capital shortfall and later telling the press “Citigroup is in such a mess Stephen Hawking couldn’t turn this company around.” In the years since she’s had less than flattering things to say about the firm and as recently as March 14, 2012, told CNBC that Citi “has no earnings power, isn’t going to grow, hasn’t been investable in four years” and “is like an old broken-down Victorian house.” (In the same interview, she told Maria Bartiromo that the only way she’d change her mind about the big C would be if she received “a new brain.”) So it probably surprised a few people when, earlier this month, she upgraded the bank. But please, do not get the mistaken impression that she’s suddenly in love with the place or has developed any feelings for it whatsoever. Fact of the matter is, the mere thought of the place still sickens her.
While her latest move was seen as an endorsement of Citi, Whitney said not to read too much into the call. “It certainly doesn’t mean I’m running into the loving arms of Citigroup or I’ve become bullish on Citigroup. What it means is I don’t see any near-term negative catalyst for the company,” she said. “In the collective it’s not that interesting of a stock.”
Ya hear that, Citi? Not if you were the last two people on earth!
You could land a helicopter on that chin
I'd rather not.
"who dropped a house on her sister." Well, well done.
Hey Meredith, how's that muni default coming?
-Citi
Good to see I'm not the only one with doubts about Stephen Hawking's abilities.
http://www.youtube.com/watch?v=XKXz2qDTiBU#t=0m35…
still wud
I cannot stress enough how little I think of Meredith Whitney…
No, you couldn't. But I could.
Meredith Whitney is still hanging onto her 15 minutes of fame? Jesus that women needs to take a hint…
Reminder… Meredith Whitney is often wrong… http://mankabros.com/blogs/onmedea/2010/01/22/mer…
She said that “Citigroup is in such a mess Stephen Hawking couldn’t turn this company around", but there were so few people around to listen it actually sounded more like "turn this company around.. around… around… round"
Hahahahahhahahahahahha. Ha. Ha. Sorry, the mounds of money that I use to massage myself tickle sometimes. You were saying something, Meri?
-R. Rubin
She has since followed this report with similar reports and predictions, which have tended to leave the companies involved with lower stock prices as the market has taken her opinion seriously. One of her claims is that goodwill is built into a lot of companies' share prices, and that as the market moves into dark times, this goodwill will dissipate. American Leather discount
Whitney wrote a particularly pessimistic, but accurate, report on Citigroup to which many Wall Street analysts, and the news media, paid attention. She has since followed this report with similar reports and predictions, which have tended to leave the companies involved with lower stock prices as the market has taken her opinion seriously. Las Vegas chiropractor
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Whitney said in September 2010 that the United States is in so much financial trouble that the Federal Reserve will have to inject about a trillion dollar stimulus package, for the third time, to fix the budget gap.
Meredith Whitney is a well known banking analyst and founder of the Meredith Whitney Advisory Group. Whitney was in the papers for making bearish calls on the banking industry including an accurate prediction that Citigroup would cut dividends in 2008. She also joined Warren Buffett in raising alarms about the $2.8 trillion municipal bond market and it's potential for widespread defaults.
Large financial institutions investing in markets are often called institutional investors and are distinguished from smaller or retail investors because they transact large values of securities at a time and so generally face fewer regulatory restrictions. They include asset managers, private and public pension funds, insurance companies and charitable foundations among others.
She predicted this during her appearance on the broadcast of the CBS program 60 Minutes. Since the record amount of money lost in one year through municipal bond defaults is $8.2 billion, Ms. Whitney's comments about hundreds of billions in losses drew a great deal of attention, much of it critical.
The firm also provides monthly insights on the capital markets, US consumer, US regional economies, and state fiscal and regulatory issues. It offers weekly economic data, key market news, and intra-quarter trends for banks and brokers and MWAG insights on the weeks and months to come. The firm also offers fundamental research, ratings services of the municipal market, proprietary analysis, specific coverage of financial stocks…
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Whitney graduated from The Madeira School in 1987 before doing a post-graduate year at The Lawrenceville School. She was a member of the first co-ed graduating class of The Lawrenceville School. She graduated with honors from Brown University.
She has since followed this report with similar reports and predictions, which have tended to leave the companies involved with lower stock prices as the market has taken her opinion serious.
Typically a borrower issues a receipt to the lender promising to pay back the capital. These receipts are securities which may be freely bought or sold. In return for lending money to the borrower, the lender will expect some compensation in the form of interest or dividends.
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(In the same interview, she told Maria Bartiromo that the only way she’d change her mind about the big C would be if she received “a new brain.”)
It certainly doesn’t mean I’m running into the loving arms of Citigroup or I’ve become bullish on Citigroup.
She has since followed this report with similar reports and predictions, which have tended to leave the companies involved with lower stock prices as the market has taken her opinion seriously.
For finance and business majors, one of the most coveted offers to have at graduation is an analyst position at an investment bank. Business students are attracted by the pay, the prestige and the fast-pace lifestyle that these twenty-something analysts live.
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Meredith Whitney is a well known banking analyst and founder of the Meredith Whitney Advisory Group. Whitney was in the papers for making bearish calls on the banking industry including an accurate prediction that Citigroup would cut dividends.
Financial analysts evaluate the ability of companies or governments that issue bonds to repay their debt. They analyze the companies debt to equity ratios and this data they gathers from financial statements and then give the recommendations.
There are understandable reasons for keeping information like this secret. For instance, poor financial results, business plans and new products could be leaked to a competitor. And people who are not receiving bonuses could become upset to learn that executives are receiving theirs.
The idea is that you want to track everything that you want to grow. And yes, you want to track your expenses too even though you don't necessarily want to grow those. When you have the numbers, you can sit down and it tells a story about your business.
She was a member of the first co-ed graduating class of The Lawrenceville School. She graduated with honors from Brown University.. She is really a hardworking lady…
CNBC had considerable difficulty getting cable carriage at first, as many providers were skeptical of placing it alongside the longer established Financial News Network.
finance and business majors, one of the most coveted offers to have at graduation is an analyst position at an investment bank. Business students are attracted by the pay, the prestige and the fast-pace lifestyle that these twenty-something analysts live.
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This was a good fact to know. The could still manage to improve the company. Professionalism really is in her heart. Nice one!
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Citigroup is so Citigroup sometimes.
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