You know, she was on top of this from day one. To me, what she is saying now still does make sense.
She backs what I have been saying here.. “the government is changing the rules in the midle of the game….”
Also, “The rally was based on zero fundamental improvement”.
She also questions how fewer people working can cause an increases in economic fundamentals.
Disclosure (“none” means no position):
3 replies on “Whitney Pours Ice Water on Rally”
It is painful to see Meredith slowly slip into irrelevancy.
I completely understand the rally being potentially overblown, but nobody is talking about how dramatically the market overshot the bottom on the other side back in November-December. When buying stocks is like shooting fish in a barrel (ala November/December), that means something… it means the market way too cheap. The market may have over-corrected on the other side now, but we should acknowledge that at least a portion of this recovery, while not due to “fundamental improvement” in the economy, may be due to a fundamental acknowledgment by the market that the we were oversold at the end of last year.
If this wasn’t so sad, it would be funny. Let the chartists rule for the day, let them read the charts for the next 6 mos, let them try to come to grips with the correction that will follow that. If you cannot understand nor trust the valuation of the company, how on earth can the market?