T*********s 发帖数: 17839 | 1 【 以下文字转载自 Chinook 俱乐部 】
发信人: chinook (Base Loaded), 信区: Chinook
标 题: cnbc头版头条
发信站: BBS 未名空间站 (Wed Sep 14 13:18:40 2011, 美东)
如果说有什么永远都会用的股市估值公式,我永远只看earing一条。不单是现在,更重
要的是以后一两年。
欧洲肯定不会成为另一个lehman,大家已经知道怎么回事了。
股市也肯定不会再现2009春天,市场已经知道怎么回事了。
棒槌们,看得稍微超过你那几分钟或几天,那么这会再大幅度做熊就是自己和自己找别
扭。
IMHO。
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http://www.cnbc.com/id/44515615
'Incredible Opportunities' for Investors Right Now: Whitney
Published: Wednesday, 14 Sep 2011 | 10:42 AM ET Text Size By: Jeff Cox
CNBC.com Senior Writer
An economy under constant barrage from housing, price inflation, and debt
concerns actually has created investment opportunities, banking analyst
Meredith Whitney said.
Jin Lee | Bloomberg | Getty Images
Meredith Whitney
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Though she's more widely known for strongly bearish positions—she notably
predicted a wave of municipal bond defaults for this year that has yet to
materialize—Whitney said the beat-down of asset prices is working in
investors' favor.
"Fundamentals are not playing into valuations now at all. You've got great
companies that are trading horribly, you've got pretty junky companies that
are way overvalued," said the president and founder of the Meredith Whitney
Advisory Group. "For the first time in three and a half years, I think you
can begin to invest fundamentally and make money."
Whitney is probably best known for delivering a forecast that by many
accounts was the first and most important warning shot of the financial
crisis to come—that Citigroup [C 27.095 0.045 (+0.17%) ] in 2007 had
billions of toxic assets on its balance sheet related to subprime mortgage
exposure.
Since then, her opinions draw strong market attention as she has become a
cultural touchstone from the financial crisis era.
But in remarks at the Delivering Alpha conference run by CNBC and
Institutional Investor, Whitney said the current economic predicament is
different than the 2008 crisis, and in some ways worse.
"To me this is really scary from a consumer standpoint," she said. "It's not
like 2008, which was just jaw-wrenching. This is a constant beatdown with
consumers. There is inflation everywhere you look without wage inflation...
That does not sit well with consumers, which power the economy."
The battering of confidence has hit financial assets, particularly banks, in
a meaningful way.
Yet Whitney believes some of the aversion to risk is overdone, and she sees
pockets of opportunities in what she referred to as the "emerging markets
within the United States."
It's a concept she has spoken of before in referring to those areas,
primarily the agricultural heartland and areas not as severely impacted by
the housing crisis. She said those regions can expand even as the broader U.
S. economy remains mired in a slow-growth cycle.
"You have incredible opportunities that are being created outside the U.S.
that actually will help the U.S. get out of its morass," she said. "The fact
that China goes from a net exporter of food to a net food importer actually
benefits the US. The fact that there's increasing global demand benefits
the U.S."
"We should not underestimate the fact that there's an opportunity to invest
in emerging markets within the United States," she added. "Every generation,
the U.S. recreates itself economically."
She said that housing is unlikely to come back soon, so investors need to
turn their attention away from states such as California and Florida, where
recovery from that crisis remains elusive.
Yet she also encouraged looking at investing in infrastructure assets from
states that are selling off assets to balance budgets.
As for investment areas to avoid, Whitney continued to remain skeptical on
big banks, which have led the most recent stock market slump amid concerns
about regulation along with exposure to European debt and a slowing U.S.
economy.
"It's going to be very difficult to make money in the big banks. They're so
laden with regulatory issues, unquantifiable legal issues, and lack of
growth," she said. "Best case, they're atrophying. Worst case, they're
forced to shrink drastically." |
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