Meredith Whitney Winding Down Brokerage Unit

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Oct. 9 (Bloomberg) -- Meredith Whitney, who built her own Wall Street advisory firm after gaining renown for a 2007 call on Citigroup, deregistered her brokerage unit after three unprofitable years and is setting up an investment fund, according to industry records. Erik Schatzker reports on Bloomberg Television's "Street Smart." (Source: Bloomberg)

Meredith whitney, one of the best-known analyst on wall street is getting out of the brokerage business and into the money management business.

According to regulatory records, she has shut down meredith whitney securities.

She is listed as the chief investment officer and the managing principal of a long short fund.

We were not able to speak with her, at least not yet.

We don't know the origin of this move but it does say something about the business that she has tried to build since leaving cabc world markets.

She had plans to get into the trading business.

That is why she bought the brokerage.

She plans to hire hundreds of people to get into the bond trading business.

I can say this with some confidence, this hasn't happened either.

It is difficult to build your own brand on wall street.

There are not too many.

Peter weinberg, melissa and company.

They are able to do it with meredith whitney.

You can be the judge of that yourself.

It suggests some of her efforts to build a business around her name have not been successful and now she is getting into the money management business.

It was meredith whitney's big call back in 2007 that participated -- that precipitated the drop to citigroup.

Thank you so much for bringing that to us.

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