“Meredith Whitney is dead wrong about the coming muni-bond meltdown, and Cumberland Advisors is happy to take the opposite bet, says David Kotok, chairman and chief investment officer of the money-management firm.
In a recent note to investors, Kotok says Whitney’s forecast of “hundreds of billions” in default by 2011 simply isn’t going to happen on the scale she predicts.
Whitney, a former Oppenhemier analyst who struck out on her own after successful early calls on the banking crisis, made the forecast on the CBS News program “60 Minutes” in December 2010.”
Read more: Kotok: Bet Against Whitney’s Muni Call
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