Meredith Whitney defended her outrageous muni default prediction on CNBC:
1. "When I say default, I also mean NOT the technical definition of default" (See video 3:54)
2. "Yes, we have a federal government that can bailout... but who in Nebraska is gonna want to bailout someone in Florida?"
Meredith Whitney predicted a massive wave of munipical bond defaults in 2011 on national TV last Sunday. She expects 50 to 100 SIZEABLE defaults, totaling hundreds of billions of dollars. There were only 64 defaults during the past 30 years.
It's not a secret that state and local governments are in trouble for a couple of years now. However, Meredith Whitney is predicting several hundreds of billions of dollars' worth of defaults. This is about 10 percent of the $3 trillion municipal bond market. Insider Monkey doesn't agree with Meredith Whitney's outrageous muni prediction. Here is the video:
Steven Cohen's SAC Capital has revealed, in a new filing with the Securities and Exchange Commission, significantly surging its holding in Move Inc. (NASDAQ:MOVE). SAC Currently owns over 1.98 million...... (read more)
Billionaire Carl Icahn's activist position in Hologic, Inc. (NASDAQ:HOLX) takes a new step with the nomination of two representatives on the company's board of directors. According to a press release...... (read more)
John Griffin's Blue Ridge Capital has initiated a position in Zulily Inc (NASDAQ:ZU), a new filing with the Securities and Exchange Commission revealed. The fund reported ownership of a total of 799...... (read more)
Timing isn't everything, but it sure helps. Six years ago, Warren Buffett, chairman of Berkshire Hathaway Inc. (NYSE:BRK.B) +1.48% made a $1 million bet with hedge-fund manager Protégé Partners that...... (read more)
Paul Singer goes activist on Riverbed Technology, Inc. (NASDAQ:RVBD). In a recent filing with the Securities and Exchange Commission, Elliott Management has announced that it has forwarded the board...... (read more)
Ken Griffin and Citadel Investment Group are betting big on Finisar Corporation (NASDAQ:FNSR). Griffin started building the position in the third quarter of 2013. According to their latest 13F filing...... (read more)
Once per quarter hedge funds disclose their long stock positions in major U.S. publicly traded companies. Historically, the most popular small-cap stocks among hedge funds have outperformed the market...... (read more)
Billionaire Carl Icahn has reported, in a newly amended filing, increasing its position in voice solutions software company Nuance Communications Inc. (NASDAQ:NUAN). The billionaire disclosed holding...... (read more)
Steven Cohen and SAC Capital have raised their position in The Fresh Market Inc (NASDAQ:TFM). According to a new filing, Mr. Cohen owns over 2.4 million shares of the company, which represent 5.1%...... (read more)
Hedge fund advisor Steven Drobny, the author of global macro books "Inside The House of Money" and "The Invisible Hands", is coming out with another book called "The New House of Money." Drobny has just...... (read more)