Famous Analyst and Billionaires Predict Deepening Credit Crisis

Posted by Patrick O'Connor on 5/20/08 12:44 pm

The analyst who was the first to boldly predict serious problems in the banking sector last year said today that the credit crisis is going to get worse.

Oppenheimer analyst Meredith Whitney estimated that banks will need to set aside an additional $170 billion for loss reserves just to keep up with estimated loan losses. Read More

Billionaires Warren Buffett and George Soros also said the credit crunch is far from over.  Watch video below.

As a result, the banking sector suffered major losses today.

Navellier’s strategies are underweight financial stocks.  You can view our top-ten holdings for our all-cap portfolios by clicking these links:

Vantage Top 10
All Cap Core Top 10
Fundamental ‘A’ Top 10
Power Dividend Top 10
Dynamic MPT Top 10

We want to hear your thoughts!  Comment to this post by clicking the ‘comments’ link below.

To receive email updates from Navellier All Cap Blog, click here.

• 
• Email
• Print
• Comments (0)

No comments have been posted for this entry.

Post a Comment

You must register and log in in order to post comments.