MEREDITH WHITNEY

This lady knows what shes doing. Not only is she a pro banking analyst who called the banking sector's demise but she also called the recent rally in them. I listen to what she says, hands down.

June 1 -- Where in the world is this lady? TSM loves to hear what she has to say and its been weeks since her last utterings!

May 11 - Meredith was back on the media scene after a hiatus for a number of weeks. Here's what shes saying:

Banks are overbought. The government has enabled banks to have better than reality earnings (accounting changes, capital investment, etc). This has created a "crazy positive momentum based on zero fundamental improvement." Meredith believes that this momentum could continue into the 2Q or even 3Q but that eventually people are going to see the underlying core earnings power of these banks as the nonexistent nature that they are. In fact, this could lead to a repeat of the late 2008 rally and then nosedive where investors came in and then the reality of the market set in and erased the investment values.