Meredith Whitney, CEO of the Meredith Whitney Advisory Group, fires at everything in her way in the economy and stock market.
According to her, the states across the country are in financial trouble one after another. The budget gap is so huge that will require the the Federal government to inject a third near-trillion dollar stimulus package.
She thinks there will be a double dip in housing.
She sees earnings for the banks remain bad for the third year. She thinks it is difficult in making money in the banks in general and she will absolutely sell the regional banks. She sees US financial services industries cutting 80,000 people by the first quarter of 2011.
The only company she would recommend is Mastercard (MA, Financial). It does not require capital; it has high margin; it is locked in a duopoly; and it is over-punished.
According to her, the states across the country are in financial trouble one after another. The budget gap is so huge that will require the the Federal government to inject a third near-trillion dollar stimulus package.
She thinks there will be a double dip in housing.
She sees earnings for the banks remain bad for the third year. She thinks it is difficult in making money in the banks in general and she will absolutely sell the regional banks. She sees US financial services industries cutting 80,000 people by the first quarter of 2011.
The only company she would recommend is Mastercard (MA, Financial). It does not require capital; it has high margin; it is locked in a duopoly; and it is over-punished.
