This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Citigroup Worst of Bank Stocks, Poll Says

When Meredith Whitney talks -- about banks -- the market listens. Last week, Whitney was sounding alarms with a bearish outlook for the banking sector -- as if things weren't already tough enough for the big banks.

Thursday brought a market rout that rolled into a weak Friday, and almost all financial stocks ended the week lower.

The story became more interesting when famed hedge fund manager John Paulson of Paulson & Co. took on Whitney by making a big bet on the banking sector and, in particular, stating that Bank of America (BAC - Get Report) would double its share price in two years time.

Stockpickr Tools
John Paulson's Portfolio

(Could a pay-per-view steel cage match between Whitney and Paulson be in the works? Not likely, but a poll pitting the two against each other may be in the works, so stay tuned.)

So just how bad was it for the big banks? Well,

Citigroup (C - Get Report) ; Goldman Sachs (GS - Get Report) ; JPMorgan Chase (JPM - Get Report); and UBS (UBS), were all down on Thursday and Friday.

Paulson's call did help Bank of America eke out a 0.06% gain in Friday's session.

Talk about the slow road to recovery. We wouldn't be surprised if Meredith Whitney had already taken cover in the bank-implosion shelter.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
BAC $15.56 -1.46%
C $53.07 -1.76%
GS $197.35 -1.43%
JPM $62.84 -1.52%
UBS $19.83 -0.30%


DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs