One constant question I get from investors, who need somewhere to put their money, is: if I had to own something, what would it be? I am not very helpful to them at the moment as my answer is that I would own NOTHING.”
-Meredith Whitney*
*Meredith Whitney is a prominent banking sector analyst. She made her reputation by calling the dividend cuts by Citigroup and the collapse of the financial system. She used to be a Managing Director in Oppenheimer & Co.. At 40 years of age, she currently manages her own firm “Meredith Whitney Advisory Group LLC”.
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Do you agree with her? Also, if you were an Investments Manager, would you ever recommend owning NOTHING?
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I TOTALLY agree with her. I don’t know if I would ever recommend owning nothing. I can only say that she is one brave woman for doing so.
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That quote tells me she’s being honest and probably making the right call, to own cash…
HOWEVER, did you see how the financial media (or market) latched on to her so-called bullish outlook on Goldman?
Her call on Goldman was fishy. But at least she was pessimistic on financials.
see the folks at zerohedge.com and http://www.goldmansachs666.com to understand why even Whitney is simply riding on a reputation that was built in the past.
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lol I totally agree.. It was extremely fishy! She upped Goldman one day before earnings! She would never risk her reputation and her new company’s image without knowing something. Looking at the way Goldman’s stock performed, I guess many people knew they were going to beat. However, it is worth noting that she has always praised Goldman as opposed to the other financials even during the midst of the financial crisis. Obviously she is extremely lucky, but smart too.
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