CM in MA

Citi: A Sell at $3.00?

What cracks me up is that anyone pays any attention to what any analyst has to say. I'll give Meredith Whitney credit in that she called Citi to some extent--the stock had already fallen from highs in the mid-50s when she went to "underperform." She certainly did better than most analysts following financial firms. But, was it luck? This question goes to the point of the article about changing the rating. What information is she using to form her opinion. The analysts rely, to no small degree, on information provided by the companies being analyzed. It's pretty clear that the folks at Citi, and at other financial companies, don't know what's happening on their own books. How should Meredith Whitney, or any other analyst, be expected to figure it out? The real laughs start when analysts at Citi, GS, JPM, et al, put a recommendation on each other. Again, these same analysts would be hard put to explain their own company's books.