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Meredith Whitney Cannot Stress Enough How Little She Thinks Of Citigroup

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!

Whitney ‘Wildly Bullish’ on Certain US Markets, But… [CNBC]

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72 Responses to “Meredith Whitney Cannot Stress Enough How Little She Thinks Of Citigroup”

  1. Guest says:

    You could land a helicopter on that chin

  2. Somebody says:

    I'd rather not.

  3. Guest says:

    "who dropped a house on her sister." Well, well done.

  4. The Dude says:

    Hey Meredith, how's that muni default coming?

    -Citi

  5. Guest says:

    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

  6. -vikram says:

    still wud

  7. guest says:

    I cannot stress enough how little I think of Meredith Whitney…

  8. Dick Fuld says:

    Meredith Whitney is still hanging onto her 15 minutes of fame? Jesus that women needs to take a hint…

  9. Jill Kennedy says:

    Reminder… Meredith Whitney is often wrong… http://mankabros.com/blogs/onmedea/2010/01/22/mer

  10. Tanker2Banker says:

    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"

  11. streethockey says:

    Hahahahahhahahahahahha. Ha. Ha. Sorry, the mounds of money that I use to massage myself tickle sometimes. You were saying something, Meri?
    -R. Rubin

  12. jerome says:

    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

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    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 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.

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  27. It certainly doesn’t mean I’m running into the loving arms of Citigroup or I’ve become bullish on Citigroup.

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