Oppenheimer's Meredith Whitney Sees Major Negative Revaluations for Financials
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Oppenheimer's analyst Meredith Whitney said financials stocks may have further downside of as much as 50% based upon 1990/1991 multiples of tangible book values, following Bear Stearns (NYSE: BSC) fire sale to JPMorgan (NYSE: BSC). Whitney said the buyout price will create a major negative revaluation for financials.
Stocks: Lehman Brothers (NYSE: LEH), Goldman Sachs (NYSE: GS), Merrill Lynch (NYSE: MER), Morgan Stanley (NYSE: MS), UBS (NYSE: UBS), Citi (NYSE: C), Deutsche Bank (NYSE: DB).
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Comments
valuation
do you talk to hear yourself? See you own writing? It's amazing how the analyst all the sudden are the Paul REVERES when the British have already had tea!
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Why would anyvbody listen to whitney
Don on Mar 26, 2008 02:10 PMShe said sell bsc at 3-4 on cnbc before it exploded up check the tape !!! She is a definite fade for me right now,every recommendation she has a will triple up in the opposite direction hope she keeps talking !!!!!