Monday, May 11, 2009

Bucket of Cold Water on the XLF

We have great respect for Meredith Whitney. She saw the cracks in the house of cards before the crisis, then before the latest bank earnings came out she said she wouldn't be short the financials (because of the Government intervention) and now after the rally she says she wouldn't own them. As good as it gets for an analyst.

If you haven't already seen this then sit down for the next 10 minutes and soak it all in: