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Meredith Whitney, Investor Who Sued Her To Get Money Back Her Are Friends Again

Whitney and Michael Platt have buried the hatchet, despite the "crude" way he "shocked" her with a redemption request.
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So that's nice for them.

Billionaire Michael Platt’s BlueCrest Capital Ltd. and Whitney’s Kenbelle Capital LP resolved all the claims related to the lawsuit, which was filed in New York state court in Manhattan in February, according to a filing dated June 1. Terms weren’t disclosed. The dispute reflected a rift that developed after Platt helped Whitney, one of Wall Street’s most famous analysts, start Kenbelle in 2013. According to BlueCrest’s suit, Whitney refused to honor a request made in October to return its investment, which had dropped to about $46 million...BlueCrest initially was able to persuade a New York state judge to block Whitney’s payments to investors while the suit was pending. The judge lifted the ban two days later, saying that Platt’s firm acknowledged it could afford to lose its stake and that ordering the repayment would shutter Kenbelle.

BlueCrest Capital Ends Suit Against Meredith Whitney’s Firm [Bloomberg]

Earlier: Meredith Whitney Thinks BlueCrest Could’ve Been Nicer About The Whole $46 Million Redemption Request, Suing Her Ass Business


Meredith Whitney Thinks BlueCrest Could've Been Nicer About The Whole $46 Million Redemption Request, Suing Her Ass Business

Regardless, know this Michael Platt: Whatever doesn't kill a Meredith Whitney makes it stronger.

Meredith Whitney: Citigroup Should Just Give Up

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. Meredith Whitney: No CEO Can Fix Citigroup [WSJ] Earlier: Meredith Whitney Cannot Stress Enough How Little She Thinks Of Citigroup

Meredith Whitney Is Returning To Her Roots

Running a hedge fund is out, making Citigroup wish it had never been born is (back) in.


Last Year’s Markets Were So Can’t Miss Even David Einhorn Made Money

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