Monday, July 13, 2009
Meredith Whitney sees GS up how much?
Watch about 1 minute into the interview: "The underlying core earnings power of these banks is negligible. Its a crazy positive momentum based on zero fundamentals." Guess when? Two months ago. And Merideth, you haven't changed your macro forecast one iota; you still expect much higher unemployment (13% U3 .vs. in the mid 9s now) and yet you start talking about write-ups, issuing buy calls into stocks that have more than doubled in price with, in your own words, zero fundamentals and negligible earnings power?