A few months ago, this Merideth Whitney gave the following interview on CNBC:
In the above interview, she states the bank rally was overdone and stocks "grossly overvalued" justifying in part on the government intervening and enabling the banks to deliver earnings better than they could organically earn otherwise.
Then early in the morning, just a few months later and with seemingly little fundamental changes in banking, she appears to do a 180 turn, and recommends GS while putting other banks in a positive light, including J.P. Morgan, without offering much reasoning for her reversal?
One might argue that Ms. Whitney's GS call may possibly be logically consistent. However, her dramatic reversal on J.P. Morgan seems untrustworthy on its face in light of her earlier comments, and maybe something even more questionable if you factor the timing during options expiration week.
If the above is not mind boggling enough, just listen to her statements made just a few minutes later when she is seated in a more informal setting with a couple more CNBC anchors joining in.......Merideth seems to go back to her old perspective when the conversation is unrehearsed and apparently unscripted.
If it wasn't for the fact that she is wearing the same designer dress and her hair style identical, you would think that this couldn't be the same person making the above assertions just minutes apart on T.V. Then, factoring the earlier statements, made on the same network, just a few months ago, and with little intervening fundamental changes to banking, you begin to question veracity when Ms. Whitney was in the earlier controlled scripted environment versus her seemingly straightforward delivery in the more informal unscripted environment.
At this point, something just doesn't seem right. As one who has cross examined a number of witnesses, the impeachment value of the inconsistent statements above would make any trial lawyer salivate.