Editor's note: Analyst Meredith Whitney released a negative view on banks and the economy in general Monday afternoon, somewhat blunting a sharp rally in stock market. RealMoney contributors took up the story and ran with it.
Jim Cramer started the ball rolling in Columnist Conversation: Meredith Whitney 11/16/2009 3:30 p.m. EST Is this why the market dipped? Because Meredith Whitney came on and said that the banks are expensive and too high? Is that what we feared? What edge does she have? What is her standpoint? Bad loans? Bad credit? It is painful to hear her now. I know she called the top in Goldman Sachs and I know she was negative going into the cataclysm. But this is really same old, same old now. The fact that it worked and knocked down Goldman and JPMorgan is rather amazing to me. And is a testament to how stupid the market can be. No humility, no sense that we have had a big rally. No evidence that things are further deteriorating. No talk about the credit improvement at JPM. And, instead, chatter about retail sales? I mean, wait a second, retail sales? Now she's a macro generalist? Her credibility, like Roubini's, is shot... Position: GS, JPM Timothy Collins weighed in, asking for accountability: Meredith 11/16/2009 3:46 p.m. EST You know the game, Jim. It's her job to MAKE headlines. Otherwise, how do her clients know she's working? One of my cohorts said it best here ... this is just an excuse to sell. Any selloff based on her remarks will be short-lived unless they prove to be correct. Now we just need to hold her to the same standards of "owning" her call here. That's what I want to see the media actually do. If she's wrong, then next time she is on, pull out the clip, and say, "Meredith ... what makes you different this time? Why should we listen to what you have to say here?" She has been very right on several occasions. She can't be right on every occasion, but where do we draw the line? Loading Comments... < Previous 1 2 3 4 Next >SHARE:
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Dow Jones S&P 500 NASDAQ 10-Year Note 10408.32 1107.12 2197.88 33.34 Oil * 79.23 UP 1.36 DOWN -2.18 UP 0.03 UP 0.03 10 Yr 3.33% SPDR Gold 111.8 0.01% -0.2% 0.0% 0.09% Data delayed 20 minutes More From TheStreet Latest Headlines Top-rated Mutual Funds from TheStreet Ratings Jim Cramer Book Tour Top-rated ETFs from TheStreet Ratings Find returns with the Dividend Calendar Top Rated Stocks from TheStreet Ratings Twitter RSS Facebook YouTube adsonar_placementId=1341369;adsonar_pid=879768;adsonar_ps=-1;adsonar_zw=320;adsonar_zh=280;adsonar_jv='ads.adsonar.com'; Brokerage Partners YAHOO.util.Event.on(window,"load",function(){ setTimeout(function(){ TSCM.util.attachScript('scr_intellitxt','http://thestreet.us.intellitxt.com/intellitxt/front.asp?ipid=10685'); },1200); }); Sponsored Links Get your credit score in 2 easy steps for free. 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