Meredith Whitney has started a hedge fund called Kenbelle Capital LP, Bloomberg reports.
Whitney is famous for her accurate bearish call on Citigroup in 2007, but since then some of her calls haven’t panned out — like her assertion that municipal governments would go bankrupt.
Now it seems like she’s switching strategies. In August Whitney unregistered the brokerage part of her advisory firm, Meredith Whitney Advisory Group.
Whitney started the advisory business amid media coverage including a Fortune cover story crowning her “the woman who called Wall Street’s meltdown.” Her broker-dealer’s Securities and Exchange Commission filings list no revenue in the past three years and about $US96,000 of expenses. The unit was inactive last year outside of maintaining compliance and “introducing its services to the market,” according to the most recent report.
Now records show that she is chief investment officer and managing principal a Kenbelle, a long/short equity fund.
This comes after months of people wondering what was going on with Whitney. In July the WSJ reported that she was losing clients and spending a lot of time in Bermuda (where Kenbelle is based). At that time, the word that she was starting a hedge fund was just that — a word.
Now it’s real.