Meredith Whitney: So Long, and Thanks for All the Dish
After dishing on banks for some time, banker-bear Meredith Whitney is apparently leaving Oppenheimer to start her own firm. StreetInsider has the story:
Uber-bearish banking analyst Meredith Whitney is reportedly leaving Oppenheimer to start her own firm. Meredith has become a star for her prescient calls on the banks, like Citi (NYSE: C) and Bank of America (NYSE: BAC). She was telling people to sell them while others were screaming buy. We all know what has happened.
Assuming she is not leaving to start an investment management firm, this could be a smart move for her. Mind you, we will now have an endless list of people say that this represents a bottom in banking. Sigh.
[Update] Dealbreaker says (NSFW) it's a fairly traditional sell-side firm.