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Meredith Whitney was right. No, there weren't "50 to 100 sizable defaults" in muni bond markets,...

Meredith Whitney was right. No, there weren't "50 to 100 sizable defaults" in muni bond markets, but as Duff MacDonald writes, her general point that municipal finances were a mess and would get worse was spot on. "Laugh at her all you want, but then try this: Go find one person who says their local taxes are falling or their municipal services have improved... I wish you luck."
Comments (10)
  • Tack
    , contributor
    Comments (13576) | Send Message
     
    What unadulterated poppycock. Another useless political statement.

     

    Meredith's Whitney's statement was wholly incorrect in the context of investment advice, and the panic she instilled merely served to provide a wonderful money-making opportunity for those who ignored her calamitous forebodings and bought municipal bonds in the wake of the havoc she created. Yes, those folks are laughing, but any adherents, who acted on her advice, sure aren't.

     

    Her performance was no different than the "guaranteed" recession forecasted for Q1 provided by ECRI that has also led so many other recent followers, like lambs, to slaughter.
    12 Mar 2012, 06:24 PM Reply Like
  • Larry Smith
    , contributor
    Comments (2509) | Send Message
     
    Nice spin, but sorry, she was wrong. She said 50 to 100 cities would default this year (2011) and start the next leg down in the financial crisis. That was dead wrong. She is just another analyst who made one right call and then everyone thinks he/she is a genius.
    12 Mar 2012, 06:26 PM Reply Like
  • wyostocks
    , contributor
    Comments (8244) | Send Message
     
    Time will prove her right.
    Don't be so quick to write her off as a quack.
    12 Mar 2012, 06:28 PM Reply Like
  • RK
    , contributor
    Comments (400) | Send Message
     
    Sorry. Investment advice must come with an expiration date. You can't say such and such an event will happen with no date. Well, you can. But no one should pay you for the non-advice.
    12 Mar 2012, 07:49 PM Reply Like
  • Stealthtastic
    , contributor
    Comments (3) | Send Message
     
    This man speaks the truth
    13 Mar 2012, 01:52 AM Reply Like
  • tigersam
    , contributor
    Comments (1711) | Send Message
     
    Old MacDonald had a farm. Yiya Yiya Yo!

     

    This MacDonald is just babbling!
    12 Mar 2012, 06:40 PM Reply Like
  • anonymous#12
    , contributor
    Comments (552) | Send Message
     
    Meredith Whitney, another aberration of Wall Street. Making outlandish claims to attract more capital for management.
    12 Mar 2012, 06:46 PM Reply Like
  • tigersam
    , contributor
    Comments (1711) | Send Message
     
    Meredith has no clue.

     

    If you stand in the Yellowstone national park and yell fire. You will be correct at least 10 times a year. Meredith is not correct for last 5 years. Her all calls are incorrect. If you listen to the person like Meredith, her brother Dr. Doom and another brother Mohamad El-erian and last brother Peter Scheef. You will not make any money,
    12 Mar 2012, 06:54 PM Reply Like
  • avickrey
    , contributor
    Comments (38) | Send Message
     
    Meredith made me more money than anyone else. When people were selling munis in panic after the 60 minutes spot, I was buying. God bless Meredith!!
    12 Mar 2012, 06:55 PM Reply Like
  • tigersam
    , contributor
    Comments (1711) | Send Message
     
    Avickrey:

     

    You lucky dog! I am only in stocks and do not understand muni market. Otherwise I would have jumped on these. When she made the call on bank stocks, I made money.
    12 Mar 2012, 06:57 PM Reply Like
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