Barry Ritholtz has had a "sell" on Lehman Brothers for several months. The latest management turmoil just confirms his view.
"We think there's no reason to be in the banks or the brokers," the Fusion IQ chief executive told CNBC. "We think it's an 'avoid,' and there's no reason to try and catch the falling anvil."
But he's not down on stocks, not by a long shot.
"There's plenty of opportunity now," he said. "We continue to like energy, and that includes companies like Arch Coal and Swift Energy, and...the enterprise software group has done very, very well: Look at Oracle, look at Sybase...BMC (Software) also looks interesting."
Disclosure information for Barry Ritholtz was not immediately available.