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Popular banking analyst Meredith Whitney questioned the time frame billionaire hedge fund manger John Paulson thinks Bank of America (NYSE: BAC) will double by.
In a recent letter to investors, Paulson said he believes BofA will rise to $29.81 by December 2011. But in an interview on Bloomberg Radio today Meredith said "I just don't know if it's going to be 2012 or 2015." She said, "theoretically, sure it could double. It's just a question over what time frame."
Paulson's latest quarterly filing showed he owned 159,794,229 common shares of Bank of America, down from 167,990,464 shares. He said while the fund is up on its investment in Bank of America "considerable upside remains."
Among other banks stocks, in the quarter ended September 30, Paulson also accumulated 300,000,000 million shares of Citigroup (NYSE: C), lowered his stake in JPMorgan Chase (NYSE: JPM) and liquidated his stake in Goldman Sachs (NYSE: GS).
Paulson gained notable fame over the past few years after making billions for himself and his firm betting against the US housing market.
Meredith Whitney made headlines recently after she said she has not been this bearish on the market "in a year."
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Comments View All Comments
Whitney! Very unhappy Birthday to you....
From the comments you made about Paulson it would seem as if you were turning 80 tomorrow instead of 40! You may want to get checked for DIMENSHA! Or maybe your trying to give yourself an early birthday gift.
meredith whitney
meredith joe has it right" you are a shill" just sell in november and go away.and let honest investors make some money.
whitney
you think? where is proof? people like you caused the mkt. to fall to start with.
bac
meredith should stop saying negative things about the market
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WHITNEY
BOB on Nov 19, 2009 11:30 PMDID SOMEONE TAKE YOUR BROOM. IF YOUR SO SMART WHY DON'T THEY REFER TO YOU AS A BILLIONAIR.GOOD LUCK HONEY. OH HOW IS MAYO HE IS ALWAYS WRONG TO.