Tuesday, March 17, 2009

One Femme Fatale's fatal flaw

Wall Street and Hollywood.

Real life, and reel life!

And lord knows, we must take Wall Street and our money serious! Isn't that what Jon Stewart taught us?

So let's have some fun, since we're not supposed to when we talk stocks!

Remember Sharone Stone, the femme fatale of the 90's?

Let's look at her domestic box office revenue:

Basic Instinct did $117 million.
Sliver did $36 million.
The Quick and the Dead did $18 million.

The more Ms. Stone bared her assets, the greater the box office! But when Ms. Stone needed to up her revenue, by reverting back to the same formula that brought her success, it didn't work.

Basic Instinct 2 brought in only $6 million at the box office, despite Ms. Stone baring hers!

Her bare days were over, but she didn't know it! She needed to change her role!

Wall Street's femme fatale has been Meredith Whitney, the former Oppenheimer analyst who has now started her own shop.

She used to terrorize the bulls with her market calls, and banking CEO's were afraid of her, as were men of Catherine Tramell's icepicks!

Meredith Whitney used to keep the financial world on edge, and she had the ability to move the markets. Especially, when the power was in the bear's hands, and the bearish hedge funds who generated fees through their relationship.

Let's check out her box office when she was on CNBC.

On February 21, 2008, when she was on CNBC the market dropped 143 points or 1.2%
On September 15, 2008, when she was on CNBC the market dropped 504 points or 4.4%.
On November 5, 2008, when she was on CNBC the market dropped 486 points or 5%.
On December 1, 2008, when she was on CNBC the market dropped
680 points or 7.7%.

Notice the progression? It's apparent, that the markets were listening to what she said. But just like Sharon Stone, she overplayed her role.

On Tuesday, March 10, 2009, she was on CNBC and Meredith warned the financial world of the perils of credit cards, on the day that we started the new bull market.

That was the day the bull market, with the number of the beast started. I said you can trot her out all you want, but it wouldn't matter. We were going higher!

That day the Dow gained 379 points, or 5.9%; not quite the result her bearish clients wanted!

Today, one week later, Meredith tried again. The market was extended, and Monday we had a late day swoon. Her clients probably hoped she still had some magic left, to work the next morning!

It wasn't to be.

The market was up 178.73 points, or 2.48%, despite Ms. Whitney's bearish proclamations on credit. She said the banking industry would be worse in 2009 than in 2008!

Like Ms. Stone, Ms. Whitney needed to change her role.

And just like Ms. Stone, Ms. Whitney's bear days are over, but she doesn't yet know it.

When Sharon Stone, met Joey Ezterhaus after she signed for Basic Instinct, they had this dialogue:

S: You're so sly.
J: Why?
S: Catherine's last name. Trammell. I researched it. I know what it means.
J: What does it mean?
S: You know what it means.
(Michael Douglas "Will somebody end the suspense please?")
S: A tramell is a funeral shroud in Scottish mythology. Isn't that brilliant?

Now Sunday, I wrote a tongue in cheek article on the nephilim and end time preachers. In it I said, "I'm sure there will be a run on veils!"

It was my sarcastic way of saying, that if you didn't buy into the bottom at 666, this bull market would bring it's own funeral to those who are bearish, who were waiting for the end of the world.

So why compare Ms. Stone to Ms. Whitney?

Because Meredith, like the name Tramell, also has interesting characteristics. But since I wrote about veils, while discussing Hebrew, and Jon Stewart's Jewish, let's look at Meredith through Hebrew eyes!

Now Hebrew letters also have a corresponding numerical value.

Meredith, in Hebrew is spelled Mem, Aleph, Resh, Aleph, Daleth, Yod and Tau. The corresponding numerical values are 40, 1, 200, 1, 4, 10, 400

They add to 656.

Didn't I title this piece, "One Femme Fatale's fatal flaw?"

Meredith just missed it by one!

It's time for her to take the veil off, or she will be left with Catherine Trammel's shroud!

She needs to take her pick!


Anonymous said...

What cave did you come from? In this century, market players are women. To compare a financial analyst with a fictional seductress is a non sequitur. Get a life.

Palmoni said...

Get a sense of humour!