Analyst Meredith Whitney, who made the right call on Citigroup in 2007 but overstated the case against municipalities on “60 Minutes” in 2010, is starting a hedge fund, according to several news reports.
Whitney is now leading a long/short fund via Kenbelle Capital, which was registered earlier this year in New York but is based in Bermuda.
The analyst left Oppenheimer & Co. to start her own advisory group/brokerage in 2009, which she has since deregistered, as Bloomberg first reported on Wednesday.
In late April, she spoke at the Investment Management Association’s annual conference about her outlook. “Like you, I’m a growth chaser,” Whitney said at the time. “And like you, I get paid to find good investment ideas for my clients.”
The popular analyst also explained that she identifies more with the retail rather than institutional space due to her background at Oppenheimer & Co.
“I’ve been on Wall Street for 20 years. Six years ago, I made my most famous call on the credit crisis. I am not a doom and gloomer. I am a growth chaser," Whitney said. "The doom and gloom tag drove me crazy."
Read After Stockton, Economist Sees More Pain in California and Beyond on AdvisorOne.