Whitney and Michael Platt have buried the hatchet, despite the “crude” way he “shocked” her with a redemption request.
The more frequently you monitor your portfolio, the more likely you are to observe a loss.
This is likely to cause short-sighted decisions and could hurt your investment performance.
If you are checking your portfolio more than once per quarter, you’re doing it too much.
Click to read more.
Dan Egan, Betterment Director of Behavioral Finance and Investing
Regardless, know this Michael Platt: Whatever doesn’t kill a Meredith Whitney makes it stronger.
“There’s a long list of failed managers who look to raise money off of one […]
Does that sound like something you’d be interested in?
…Meredith Whitney the person, however, is nowhere near finished here. For those fearing the closing […]
Get a jump on packing up your belongings, because according to Whitney, 100,000 of you […]
Things are looking pretty grim for Meredith Whitney Advisory Group. Except possibly from Bermuda.
Earlier today, we wondered if, in light of the news that Vikram Pandit had resigned as CEO of Citigroup, analyst Meredith Whitney’s opinion of the bank had changed. Choice comments that Whitney has made about the Big C in the past have included: “Citigroup is in such a mess Stephen Hawking couldn’t turn this company around”; “Citi is like an old broken-down Victorian house”; and Citi “has no earnings power, isn’t going to grow, hasn’t been investable in four years.” She also once told Maria Bartiromo that the only way she’d change her mind about company would be if she received “a new brain.” Still, sometimes analysts change their tune when new blood is brought in and, like former FDIC chair Sheila Bair, perhaps some of her beef with the bank had been a personal dislike of Uncle V. Now that he’s gone, is she seeing Citigroup in a new light?
Not so much, no.
In the wake of CEO Vikram Pandit‘s surprise departure this morning, Whitney, founder and CEO of Meredith Whtney Advisory Group LLC, issued a note cautioning clients to be wary of Citigroup even under new leadership. “Citigroup is ‘the incredible shrinking bank,’ and the least interest of the big four, in our opinion,” Whitney said. “No CEO will be able to change these facts in the near-term. It appears the board feels the same way, as they have appointed an unknown to the outside to the new CEO position, Mike Corbat.” […] On Tuesday, the stock has wavered between gains and losses on heavy trading volume in reaction to Pandit’s resignation. Shares are up 29% this year through Monday’s close. Despite signs of incremental improvement, Whitney isn’t backing down from her bearish stance. “Any seat in Citigroup’s court should come with a warning label,” Whitney says.
“The problem to date has been that those that have been laid off have been […]
…in the wake of a disappointing second-quarter report. Meredith Whitney, of her own Meredith Whitney Advisory Group, said there was little to “chat about” given the particularly weak 4% return on equity Morgan Stanley sported. “It can’t be much fun to be a shareholder of Morgan Stanley, and, things got a lot worse this past June when Moody’s downgraded the company’s debt to one of the lowest ratings of its competitors,” Whitney wrote, as the first sentence of her research report. “With a 4% ROE, at what point does it make sense for Morgan Stanley to begin looking for ‘a rich uncle’?”
Morgan Stanley Gets Some Tough Advice From Whitney, Mayo [DealJournal]
So, 1. How dare you, lady? Lloyd’s impish smile and comedic timing don’t do it for you? And 2. We thought these kind of blows were reserved for Vikram.
Meredith Whitney is a banking analyst made famous by Citigroup 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 whatsoeverWhile 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!
Chief Executive Officer Brian T. Moynihan is “the right guy for the job,” said Whitney, […]
When Ruth Rooney bought a home in Vallejo, California in 2005, Bloomberg reports, “there were […]
She told clients in London. She also typed up a note. She even emailed it […]
MDubs has issued a new state budget and debt report and Arizona, Nevada, Connecticut, Wisconsin? […]
Last fall, Meredith Whitney made a prediction. Perhaps you remember it? It was part of […]
Don’t freak out though, it’s not a big deal. Uncle D says this is nothing […]
Is there some sort of rules that says if you cut earnings you must tell […]
Over the weekend, USA Today ran an interview with Meredith Whitney, conducted by Maria Bartiromo, […]
You don’t have a lot of bad news through May and June. And then you […]
“I think her general sense was correct,” he said this morning on Squawk Box. “You […]
This much they promise you.
Apparently she’s “rebuffed” their advances so far but they’re planning to persevere.