Meredith Whitney Downgrades Goldman

Today Meredith threw a curve ball at the overly optimistic market with fresh downgrade on Goldman Sachs from a buy to a Neutral.  Normally this kind of thing doesn’t matter to us here because most analysts are completely off base or in the companies pocket, but Meredith has proven herself in the recent past.  Her reasoning behind the downgrade follows a theme of “Why be greedy” in that the price of GS has already met her year target price ($186)  in the matter of months.  Thanks to ZeroHedge for making this document available.  Update 10/15/09  The document has been pulled down due to copyright infringement.