Meredith Whitney to Moneynews: US Stocks 'Incredibly Attractive'

Thursday, 06 Jun 2013 04:51 PM

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The repeated records set by U.S. stock indexes in recent weeks haven't soured financial analyst Meredith Whitney on the market

"The U.S. stock market is incredibly attractive ... because there actually is incredible growth in certain parts of the United States," the CEO of Meredith Whitney Advisory Group tells Newsmax TV in an exclusive interview.

The Standard & Poor's 500 Index hit a record of 1,687.18 May 22 and closed Thursday at 1,622.

Watch our exclusive video. Story continues below.



It's not that Whitney, author of the new book "Fate of the States," likes every stock. Rather she's enthusiastic about companies that can take advantage of the economic strength in the middle of the country.

Editor's note: To order 'Fate of the States' at a great price — Click Here Now.

"It's a tale of two economies," she explains. "You have the central corridor growing at high single-digit, low double-digit rates, while, the entire U.S. [gross domestic product] is growing at 2-plus percent." The economy expanded 2.4 percent in the first quarter.

So it's a matter of picking the companies that can benefit most from the strong regions, Whitney says.

As for bank stocks, where Whitney made her name, she turned bullish on them last year. And the KBW Bank Index has surged 47 percent over the past year.

But now that the banks have bounced back, "the obvious issue is how much money are they going to make [going forward]?" Whitney asks.

"There's not a lot of revenue growth. How deeply they cut into their expense budget is really the story now. ... The group is not so exciting."

Editor’s Note: Put the World’s Top Financial Minds to Work for You

More from the exclusive Newsmax TV interview:

Meredith Whitney: States and Municipalities 'Get Away With So Much Accounting Gimmickry'

Meredith Whitney: Europe's Woes Have Mixed Impact on US

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