Just curious as to what people are thinking of Meredith Whitney these days. The first time I heard her speak/learned about her Citi call was in this interview and I was really impressed.
Has she lost her credibility on the Street because of her municipal default predictions? Is Meredith Whitney Advisory Group a highly looked upon firm or have her 5 minutes of fame passed by?
Looking forward to hearing your opinions.
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http://www.youtube.com/embed/JCEzV_-Qyj4
I'd put her in the same camp of credible as Paulson....pro who got one big call right.
I girl who leaves her firm soon after she gets one big call right, to start her own firm naming it after herself is always highly credible, right?
She's a smart above average wall street equity research analyst who had an unfortunate foray into real estate market research. I kind of like her for taking a risk and starting her own firm after Oppenheimer though.
I can't speak about her firm. There are numerous small financial research firms. Such a place wouldn't be ideal for a recent graduate with no structured training.
As for Rick Santelli, he's an idiot savant who should stick to the pits.
she's not a girl- she's an experienced professional. she has gotten plenty of calls right and two which are infamous. a firm name is just a marketing tool.
to the OP: I looked at your screenname's profile. If you're a female and a recent graduate, be prepared to stomach some schadenfreude from men whenever you trip. But do not stick only to females professionals to avoid it- not a smart growth move AT ALL. (I know I'm making assumptions here, bear with me.)
Why don't you have a similar thread about sell-side banks and their research departments, which have been pushing equities for 13 years now and prices are today where they were in 1998? Research is tough, and her general call (that housing prices would fall) might be right, even if it didn't happen exactly when she said it would.
She is sweat heart. Should be a roll model for all women.
She is passy, classy and assey
In response to Meredith Whitney’s claim on CNBC this morning that the banks are “zombies,” he fired back: ”I love Meredith and all that, but most of that stuff is hogwash." - Jamie Dimon
Does anyone think that the muni default call isn't totally wrong, but perhaps a few years early?
She's early on the muni call, never underestimate the ability of the market to remain irrational. Totally disagree with her on the Tea Party comments, agree with Rick as far as a that goes.
I hate Rick. Guy's a complete d-bag.
She is ok I guess. The thing is, she got one big major call right, and then massively overexposed herself. If you put a camera in your basement and started talking about stocks in front of it in 2008, she would be trying to get in front of it.
She is smart, but I am always a bit skeptical about the talking heads who are constantly on business news shows. At some point you start promoting a point of view, not offering analysis and facts. Her next big call is Muni defaults, and that hasn't happened yet, and I don't think that is really a stretch of a call to make considering the economy is just puttering along. Her C call was much more against the grain of thinking at the time.
I have more respect for guys like Paulson who put their money where their mouth is. He had a belief, and put his money behind it. Analysts, just get to sweep their misses under the rug.
Hard to tell - the interviews I've seen only show her head.
But I'd say she's a 7. Her body seems ok but she seems like she'd be a cold fish in bed.
On the other hand I bet she has a well groomed box.
If it were the end of the world I'd do her.
Gross! She has a face only a mother could love
I love Rick Santelli. Meredith Whitney comes off as elitist in that video, but I do think that her call on munis is a few years early. Just as the calls for the student loan crisis is a few years early.
She sounds pretentious. I don't like her.
A friend and senior guy at a top BB in the Muni Space and a Muni guy himself said basically that there would be municipal defaults, most would be smaller, he doesn't believe that it will be apocalyptic.
She's an expert., who thinks independetly from most analysts.. in this business you have to pay attention to independent thinkers my friend
Its important to differentiate between 'independent' and 'consistently wrong' (This comment is unrelated to Whitney)
Meredith Whitney shuts down hedge fund because...well...she blew it (Originally Posted: 06/16/2015)
This is what happens when you think you're smarter than everybody because you were right once (see: Citigroup stock price, 2007-2009).
from WSJ:
continued in link below:
http://www.wsj.com/articles/meredith-whitney-shuts-her-hedge-fund-14339…
Discuss.
Wait...you mean it's NOT easy to manage money and become ultra wealthy by starting your own hedge fund?
This probably only happened because she was in the less prestigious ER instead of banking, and likely could have been avoided if only she asked WSO for it's infinite wisdom / advice
If I had a silver banana I would give it to you, sir! That first sentence is gold.
No prior HF experience and they gave her $50MM ... and she ran it solo without help. A better question is which dumbass gave the OK for that investment.
if wikipedia is correct, they (bluecrest) manage 30bn GBP, or close to 45-50bn USD. so Ms. Whitney got exactly 0.1% of their fund, not exactly a huge vote of confidence.
slowclap
One hit wonder
She should have just stayed in research and moved to a bigger shop and possibly worked her way up to head up research at MS or a place like that. As others have stated, she seems to have been a one hit wonder, but other than hubris I don't know why she thought she could open her own advisory shop other than she had good publicity (it's a completely different skill set being an analyst at a decent shop and going out and opening your own) and really don't know why she thought she could manage money. Although if anyone would like to give me a load of cash to run a hedge fund from Bermuda, please PM me.
Everyone in this thread except for Dick Fuld is completely full of shit. If you had a shot to manage $200 in winnings from a Cavs - Warriors bet, you'd all open your own Babydick Capital or Lumina Investments.
Actually, no, an intelligent and experienced investor knows if they can invest in a strategy and the amount of money they can invest in that strategy or sector and will turn down money if they can't. Do plenty of people do it and would most of the early 20 somethings on WSO do it? Of course. But the guys who stick around for years know when they've oversubscribed their fund and to not accept more than they can prudently invest or know to decline the offer to launch a strategy that they won't be able to execute. Whitney wasn't a 21 year old undergrad who thinks that they can start their HF next year and become Steve Cohen by 25 and she should have known that.
I've made a living in lower MM to touching on true MM deals and the firms where I've worked have always performed well and have been approached to market larger sized funds, or branch up in size or to launch a more sector specific strategy (that we don't necessarily know well but had a success or two in and was hot) but we've always declined and stuck with what we know and know that we can execute. Whitney didn't. I thought the line by her publicist that went something along the lines of "she's no longer going to invest" was one of the more comical and and most 'no shit' statements I've read: no one will ever give her money again.
So she took a risk and failed. Why is anybody talking shit? How do you know that you would not have done the same thing in her shoes?
I mean I get it - this is WSO and everyone pretends to be smart, but can we be real for a second and realize that people actually gave her money? Could you do what she did? Could you do it better? If so, then why don't you? Not the right place or time or family or some other excuse? Anything except admitting that we don't know the full story or what personally - not professionally - drove her to make her decision to open a fund. Anything but sense. After all, we're in finance so we're 100% as informed and knowledgable as her and Warren Buffet and God about everything, so long as it deals with investing.
Or am I wrong? Yeah, I'm probably wrong.
I have been a key person involved in turning down far more than $50MM in additional capital for funds and for strategies that we would have had a hard time executing on, so yes, I have done differently when I've been in her shoes and I know plenty of people who have done the same.
I, for example, wouldn't accept any money outside of my own to start a hedge fund because even though I have almost 20 years of PE oriented investing, I have very little experience investing in anything that's publicly traded. It sounds cool and it's even something that interests me but I'd fuck that up royally. I've also been a key member in turning down LP's who wanted to invest more in a fund but the risk of taking on more capital and not executing outweighed the potential reward of additional fees and greater carry. And it's really a much bigger picture issue because the true risk is your track record and reputation and your ability to raise capital in the future. That's where she miscalculated. I'm not saying she's stupid, mean, arrogant or anything negative but she should have known she didn't have real investment experience and she has a high profile name so if the fund went tits up she'd have a very hard time repairing her reputation and raising any capital in the future.
None of the above is meant in bragging way, but when you hit a certain level of experience and seniority in the investment world you have to always consider how your actions and decisions will impact your reputation and ability to do whatever it is you want to do in the future. She miscalculated.
I honestly wish I had a SB+ to throw.
Delete
Better question yet is , when she got the 50MM why she didn't run out of the country to some nice exotic place with no US extradiction laws
And this is why sellside (especially ER) start in the buyside as footnote readers, not PMs.
I think you mean "hypothetically" :)
.....
Sorry, just couldn't resist an opportunity to grammar-nazi the legendary Mr. Fuld!
I'd fuck her on my couch.
Would love to see her returns compared to the S&P since later 2009 when she opened up shop.
just 2014, but...(from WSJ)
"But in October 2014, BlueCrest asked to redeem its investment, and Ms. Whitney refused, citing contractual agreements. BlueCrest sued to get its money back, pointing out in a court filing that the fund was down 12% in the first 11 months of 2014."
Meredith Whitney Munis (Originally Posted: 09/30/2010)
Does anyone have a copy of MW's recent piece, The Tragedy of Commons. Thanks in advance.
Anyone?
How hard is it to get a job at Meredith Whitney Advisor (Originally Posted: 09/30/2010)
What is the requirements do they recruit straight from undergraduate? Any one know the target schools?
Pikachu, you're Bulbasaur/Ivysaur/squirtelz right?
may b
Too hard for you.
why :(
bump
Meredith Whitney Predicts More Layoffs (Originally Posted: 08/09/2013)
I am kind of tired of hearing about layoffs and hearing about Meredith Whitney: http://dealbreaker.com/2013/08/layoffs-watch-13-the-end-is-nigh-says-me…
Didn't her coverage drop to like a handful of companies? Definitely has seen a steady decline.
Broken clock is right twice a day.
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