Oh why oh why did I not see this when it was first announced! A friend made this observation to me today.
Surely, Meredith Whitney quitting Oppenheimer to start her own firm rings the bell at the bottom for the bank stocks!
Bank analyst Meredith Whitney — one of the few names on Wall Street
that actually gained favor during the financial crisis — is leaving
Oppenheimer & Co. to start her own stock advisory firm.
DING!! DING!! DING!! DING!! DING!! DING!! DING!! DING!! DING!! DING!! DING!! DING!! DING!! DING!! DING!! DING!!
Citi is going to zero before all is said and done, so it can't yet be the bottom for bank stocks.
Posted by: unfettered | February 27, 2009 at 02:22 PM
Based on my investments I hope you are right. However contrarian positions based on events don't always work. As you will see in 4-6 months.
Posted by: John | February 28, 2009 at 11:55 AM