With financial stocks getting hammered over the past few weeks culminating in a 4% swan dive for the indexes over the past 4 trading days, CNBC yesterday sought out their go-to financial bear and newly dubbed “wall street oracle,” Meredith Whitney:
Ms. Whitney told Maria Bartiromo that financial stocks, “still have considerable downside,” essentially echoing her March 17 prediction: “[financial] stocks after tomorrow will be trading down again.”
That earlier call marked the very day that financial stocks bottomed and went on to rally over 25% from their lows. Time will tell if Whitney’s latest call proves just as backwardly prescient.
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