40% down discuss
Probably a good thing. Markets won’t like it much though. Buy gold, short financials, switch to long in 3 months or so.
How long before C is back in the $50 park?
cjones65 Wrote: ------------------------------------------------------- > How long before C is back in the 50 park? You mean .50 ? 
cjones65 Wrote: ------------------------------------------------------- > How long before C is back in the $50 park? !!
I have no idea about C. My recommendations were simply based on how investors are likely to interpret what happened to C, rather than C’s fundamentals.
I blame Sandy Weill for C’s troubles. Do you think that if Jamie Dimon hadn’t gotten the boot after Sandy got in the middle of a public battle between him and his daughter Jessica, Jamie may have stayed at Citi and helped avoid this mess? After Jamie left, eventually Prince took over at Citi. So … Jamie was at JPM cutting overhead and managing risk, while middle management at Citi went basically unsupervised. Way to go Sandy! Let personal issues and your own ego get in the way of properly managing the biggest bank in the world. Anyone who owned Citi should have sold the minute Jamie Dimon left the bank.
any of you guys invested in Citi? their balance sheets are indecipherable to me. its pretty much a speculative endeavor unless you got some serious insight.
Actually after seeing a $10 overdraft charge for an account that was $1.98 too little, just yesterday, I’m glad C got hammered.
bchadwick Wrote: ------------------------------------------------------- > Actually after seeing a $10 overdraft charge for > an account that was $1.98 too little, just > yesterday, I’m glad C got hammered. they gotta make money somehow
Dude you’re lucky…Wachovia charges $30!!!
I used to have overdraft protection in that account. Now they charge me $10 for “protection.” I wonder if I get a better protection deal from the Mafia?
cjones65 Wrote: ------------------------------------------------------- > How long before C is back in the $50 park? hahaha. never again.
MattLikesAnalysis Wrote: ------------------------------------------------------- > cjones65 Wrote: > -------------------------------------------------- > ----- > > How long before C is back in the $50 park? > > > hahaha. never again. Watch out for the good 'ole 50-1 reverse split!
Our government with today’s deal, they just booked a quick 10 figure loss. All of this talk, by Congress and the Fed, regarding “drawing in private capital,” is a bunch of of crap. Who in their right mind would want to invest in a bank, after seeing the government change the rules whenever they want and wipe out shareholders?
Treat it as a long call option. You know C will not be nationalized; once the business returns to profitability, enjoy the mutton and wine!
Colonel- very true. I have come to realize the govt is the worst investor on the planet, not considering the taxpayers they are supposed to represent for jack sh!t. If they were to ask any citizen if they would turn a 9%(?) yielding preferred stock for a 0% yielding piece of common crap, and pay 2x more than it is priced, who would raise their hand? Thanks for looking out for us.
Maybe government wants a vote. Most preferred shares don’t come with votes.
gimme my dividend, keep your vote. Most people convert when it is profitable to do so, but not the good ol USA baby. I guess the govt gets half the board, but not really too optimistic about who they might throw in the slot…I’d really they rather staffed Geithner’s office before Citi’s.