Monday, November 16, 2009

Meredith Whitney Comments Move Markets

Meredith Whitney, in an interview with CNBC, said she was disappointed that Bernanke didn't spell out how the Fed planned to exit "the biggest Fed program to date, which is the mortgage-backed purchase program."

"I haven't been this bearish in a year," Whitney said. "I look at the board and every single stock from Tiffany to Bank of America to Caterpillar is up. But there is no fundamental rooting as to why these stocks are up—particularly in the consumer space."

I don't necessarily agree with her outlook on "all" stocks, on financials yes however. I still believe the dollar longer term will trend lower and the dollar carry trade [gold, oil, commodities] will continue.

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