Whitney: Stocks Overvalued, Recession Will Return


Stocks are overvalued and the U.S. economy is likely to fall back into a recession next year, well-known analyst Meredith Whitney told CNBC in a wide-ranging interview.

"I haven't been this bearish in a year," she said. "I look at the board and every single stock from Tiffany to Bank of America to Caterpillar is up. But there is no fundamental rooting as to why these names are up—particularly in the consumer space."

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