Posted by Rob Minton
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Have you ever heard of Meredith Whitney?
If you follow stocks, particularly financials, chances are you have. Whitney is now famous for "calling" the financial crisis, back before the big banks all crashed and burned. She first became well-known for writing a scathing, pessimistic report on Citigroup back in 2007.
She has stayed well-known -- recognition in Forbes, and Fortune, among others -- for her extremely bearish view on banks. Today, she shocked Wall Street by making a bullish call on Goldman Sachs, upgrading the firm to "buy." As I have written before, in this day and age of instant media, her comments sent the market surging.
Here is CNBC video of her comments:
Now, I'm not saying to go and run out and by Goldman stock, but I am saying that this is a telling sign of a possible economic recovery. Healthy banks will pull this economy out of recession, and to hear one of the biggest bank bears utter some optimistic words on banks is refreshing.
And if you are incredulous that one analyst's comments can move the market (the Dow is up over 1.9 percent for the day as I write this) check out her feature article in Fortune from August of last year.
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