Meredith Whitney has learned the hard way that being a successful banking analyst doesn’t always translate to running money.
Whitney became an industry celebrity before the financial crisis when she predicted that Citigroup would slash its dividend, reports Bloomberg. In 2013, Whitney tried to put her next prediction, that middle-America would boom, to test by investing through her own firm Kenbelle Capital and its American Revival Fund. But this time around, Whitney’s knowledge didn’t pay out, and her top investor, billionaire Michael Platt’s BlueCrest Capital Management, sued in December to retrieve its $46 million after steady losses:
“I think that chapter of my life is over,” she said in an interview with Fox Business on Wednesday. “This whole experience has been highly unfortunate and I’m putting it behind me.”
Whitney relied heavily on Platt’s money, and didn’t have support for her fund of a team of analysts to help choose investments, Bloomberg reports. Whitney is now back to analyzing stocks, including Citi.
Photo: Energetic Communications via Flickr.