Stateissued go muni bonds are safe may 7, 20 by ben huebscher meredith whitney has softened her tone regarding muni bonds. And my followup is with respect to citi holdings asset sales, there has been a little. She is known for successfully forecasting the difficulties of citigroup and other major banks during the financial crisis of 20072008. Ask about procurement process role of analyst for monitoring rfp issuances, what % of time is split between rfpsexecution of existing deals 3. Meredith and whitney george family foundation, inc. As the subprime crisis tore through wall street, whitney gained credibility. She is best known for successfully forecasting the difficulties of citigroup and other major banks during the financial crisis of 20072008. October 23 and 24 marks the grand opening of citis new jacksonville, florida facility, which joins our current norfolk, virginia and washington, d. Meredith whitney advisory group, llc financial services. And so the credit card business speaks mandarin while the mortgage business speaks cantonese. If you dont feel comfortable accessing your credit report over the web, mail this form to annual credit report request service, p. Whitneys analysis related to citigroup is one of the key reasons.
When are analyst recommendation changes influential. Citis failure, however, wasnt surprising or a big deal, whitney said, adding that the results doesnt change the game as the bank has not been investable for four years. Nov 05, 2007 meredith whitney of cibc world markets inc late wednesday downgraded citigroup to sector underperformer, saying the largest u. Meredith whitney goes from citi prophet to muni cassandra to money manager. Oct 30, 2018 around that same time in late 2007, banking analyst meredith whitney made a prescient negative call on citigroup inc. But the current turmoil can be traced back to the last weekend of september, when it sought to reassert itself by swallowing wachovia, the stricken bank based in charlotte, n. Based on the description, its financial advisory for local governments and analytical work. Dec 26, 2019 if you dont feel comfortable accessing your credit report over the web, mail this form to annual credit report request service, p. Citis woes began with failed wachovia bid the new york. Meredith corporation to report fiscal 2018 third quarter. An evolution in thinking about municipal credit pnc.
Oct 10, 20 meredith whitney goes from citi prophet to muni cassandra to money manager. In 2008 meredith whitney, a research analyst, was named one of fortune. Earnings conference call in summary, we have taken a comprehensive and necessary set of actions to significantly strengthen our balance sheet. Dubbed an oracle by the big short author michael lewis, whitney made a prescient downgrade of citigroup and predicted the bank would be forced to do the unheard ofcut their dividend. Millennial women, will host a conference call on thursday, may 10, 2018, at 8. Citis woes began with failed wachovia bid the new york times. Meredith whitney goes from citi prophet to muni cassandra. Mub ishares national muni bond etf overview marketwatch. They never spent the time, the money or the energy to integrate all of the businesses, meredith whitney, analyst at oppenheimer, told the times. Citigroup saw no red flags even as it made bolder bets the. Never miss a chance to take a jab at meredith whitney. In fact, she said investors will be safe in general obligation bonds.
Meredith whitneys dire predictions shook the financial giant to the core. Nov 23, 2008 from 2003 to 2005, citigroup more than tripled its issuing of c. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Meredith whitneys prediction in october 2007 that citigroup would be forced to cut its dividend as a result of losses on its. Citigroup was among the financial institutions that failed to report accounting.
Meredith whitney is a banking analyst at oppenheimer. Meredith also features robust brand licensing activities, including more than 3,000 skus of branded products at 4,000 walmart stores across the u. Citi group commerce bank express scripts hospital sisters of the third order of st. Wall street analyst meredith whitney examines state economies in new book high praise for texas%2c doubts about california some economists challenge whitney%27s outlook. Meredith whitney, the star analyst whose bearish calls on financial stocks were borne out by the credit crisis, has resurfaced as an investment manager at a bermuda insurance company. C faces further credit losses and share dilution even after the new government bailout plan. More and more people are jumping on the bandwagon to bash meredith whitneys prediction of a. Whitney made a name for herself during the 20072008 credit meltdown after calling on citigroup nyse. Meredith whitney was born on the 20th november 1969, in summit, new jersey usa, and is probably best recognized for being a financial analyst, who predicted the difficulties of major banks, including citigroup, ahead of the financial crisis 20072008. Meredith whitney still detests citi, tells muni haters stay tuned mar.
Whitney burst onto the scene with a report predicting bad news for citigroup in a halloween 2007 report. C here, and she also issued a report in which she lowered goldmans, lehmans, morgan. Meredith whitneys fall from grace business insider. Meredith whitney, banking analyst for bloomberg news, on april 9th, 2008. Contact meredith whitney advisory group, llc or view meredith whitney advisory group, llcs ratings, investment advice, financial planning and insurance services, and get detailed information on their fees, advisors, licenses and history. Report sends citis stock to fouryear low the new york times. A few days after her report was published, citi s longtime ceo charles prince resigned amidst growing capital concerns. Its business segments include global consumer banking gcb, institutional clients group icg and.
You can also request customized instructions, contact information, and reporting. Whitney of cibc world markets, downgraded citigroups stock to sector underperform, from sector perform, and called for the bank to bring precariously low capital levels. Meredith whitney goes from citi prophet to muni cassandra to. Apr 25, 2012 lest anyone think she likes citi, she doesnt. Whitney started her own research firm, meredith whitney advisory group in february 2009, selling research and consulting services to institutional clients. For instance, your organization can select content from across citi program courses included in your subscription and add institutionalspecific content. Meredith corporation to report fiscal 2018 third quarter results. Meredith whitney of cibc world markets inc late wednesday downgraded citigroup to sector underperformer, saying the largest u. Report sends citis stock to fouryear low the new york. Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 1,000 cities across 160 countries. More and more people are jumping on the bandwagon to bash meredith whitney s prediction of a massive wave of muni defaults now the center on budget and policy priorities has published a report. See price target calculation and key risks to price target sections at the end of this report, where applicable. Citigroup saw no red flags even as it made bolder bets. Jun 05, 20 wall street analyst meredith whitney examines state economies in new book high praise for texas%2c doubts about california some economists challenge whitney %27s outlook.
Heads up, gsa and dod agencies and military installations in the southeastern u. Citigroup bottoming plus some free advice for meredith whitney. Around that same time in late 2007, banking analyst meredith whitney made a prescient negative call on citigroup inc. Peter drucker, management consultant, author and social ecologist for the legal industry, the results in 2012, another turbulent year, were largely a repeat of trends that emerged over the prior three years. Box 105281 atlanta, ga 303485281 for a hard copy, or call 1. Meredith whitney meredith whitney advisory group analyst. Analyst raises doubts about citigroup dividend the new.
Meredith whitney still cautious on citigroup c even with. Citigroup bottoming plus some free advice for meredith. Meredith ann whitney born november 20, 1969 is an american businesswoman hailed as the oracle of wall street by bloomberg. Meredith whitney became famous in 2007 for spotting citigroups subprime exposure, but now her advisory group has lost half of its clients.
From 2003 to 2005, citigroup more than tripled its issuing of c. It certainly doesnt mean i am running into the loving arms of citigroup, whitney said. The ftse debt capacity world government bond index measures the performance of fixedrate, local currency, investmentgrade sovereign bonds with a focus on countries with lower debt issuance relative to their gross domestic product gdp and stronger debt servicing capabilities. Meredith whitney is still right tuesday, january 02, 2018 9. Richard bove, rochdale securities, discusses the state of the financial sector, which firms he is likely. The analyst who famously predicted disaster for the entire market on national tv now she says that new governors have been elected and states have begun reforming. Meredith whitney isnt running into the loving arms of. Meredith whitney takes role at bermuda insurer cnbc. Citi s failure, however, wasnt surprising or a big deal, whitney said, adding that the results doesnt change the game as the bank has not been investable for four years. It is not easy going against the grain on wall street, especially as a woman. Nov 24, 2008 in the decade since citigroup was born from the merger of citicorp and travelers group, it weathered many storms that threatened to pull it apart. Meredith whitney redraws map of prosperity usa today. Admittedly i dont know much about this industry, but it seems really interesting from the job description. Meredith whitney and the problem with wall street pundits.
An annual base subscription fee includes unlimited access to all core subjects for learners at each of your organizations sites. Citi program can be adapted to meet specific organizational, language, country, or discipline needs. A site is a facility or organization operated by or affiliated with a subscribing institution where 30 or more employees, agents, or students of the institution will complete citi program courses in a given year. But unabashed, meredith whitney did just that, making one of the great contrarian predictions by any financial analyst. I bet there are a lot of 60 minutes interviewees like whitney who felt they were bamboozled once the edited version of. Analyst raises doubts about citigroup dividend the new york. Ftse russell ftse debt capacity world government bond. Dec 09, 2015 meredith whitney, the star analyst whose bearish calls on financial stocks were borne out by the credit crisis, has resurfaced as an investment manager at a bermuda insurance company. Citi provides consumers, corporations, governments and institutions with a broad range of financial.
Et on the wall street journal 2012 begins as another year of not listening to meredith whitney. The company provides a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerag e, trade and securities services and wealth management. Citi research is a division of citigroup global markets inc. The independent model is a difficult track to choose, as the model offers none of the infrastructure an established firm with an attractive brand enjoys. Whitney of cibc world markets, downgraded citigroups stock to sector underperform, from sector perform, and called for the bank to. Whitney burst onto the scene with a report predicting bad news for citigroup in a. Meredith corporation to present at citi investor conference. Meredith whitney is cofounder and cio of kenbelle capital. Meredith whitney has softened her tone regarding muni bonds. Meredith whitney oppenheimer analyst glenn schorr ubs analyst richard bove. Jim rogers not meredith whitney predicted collapse in january 2007. Kuwait investment authority, prince alwaleed bin talal one of citis largest shareholders, and former chief executive sandy weill.