Meredith Whitney is facing challengesPosted by RJ and Makay on Oct 07, 2010 |
Meredith Whitney,
the bank analyst who jumped to celebrity by correctly predicting Citigroup Inc.’s dividend cut, is having less success divining stock market winners and losers according to Bloomberg.
As reported on Bloomberg.com, two-thirds of her picks fared worse than market indexes. Missed calls include Visa Inc., which fell 14 percent after Whitney called it her “single best buy,” and Capital One Financial Corp., which tripled after she urged clients to sell.
Whitney’s recommendation to sell bank stocks propelled her to fame during the financial crisis. Time magazine labeled her one of the world’s most influential people and Fortune put her on its list of the 50 Most Powerful Women. Michael Lewis’s best- seller “The Big Short” chronicled how Whitney’s prediction on Oct. 31, 2007, that Citigroup would lower its dividend helped erase $390 billion of value from U.S. stocks.
bloomberg.com









