Tom Brown’s School Days

"Citigroup (C) ain’t doing deals anytime soon, regardless of what the regulators say."

Irrelevant Research Note Of The Day
by Tom Brown
Bankstocks.com Nov. 20 2007

"The Abu Dhabi Investment Authority will invest $7.5 billion in Citigroup, offering the nation's largest bank needed capital to offset big losses from mortgages and other investments."

Abu Dhabi buys Citi stake
Associated Press Nov. 27 2007

"Second Curve Capital LLC, the financial stocks investment firm run by Thomas Brown, has lost nearly 50 percent of its value this year as top holdings like First Marblehead (FMD) and CompuCredit (CCRT) have slumped, Brown said on Thursday...

Brown...said his top stock picks include First Marblehead Corp, which securitizes student loans...and CompuCredit, which provides credit and related financial services."

Brown's Second Curve slumps nearly 50 pct in 2007
by Dane Hamilton
Reuters Nov. 29 2007

"Being wrong is inevitable—staying wrong is unforgivable."

Old Investment Saw
(Selected by A. Hypocrite, d/b/a NakedShorts)

Comments

[manohmanoh:]

I'm sorry, how is this an "article"? Do you get paid by the article, then, friend?

2007 Dec 05 03:53 AM

[BamBam:]

You have deliberately taken the man out of context.

His point, I believe, was that Citi's leadership and balance sheet problems would likely preclude it from making any large acquisitions, even if the regulators did permit it.

The subsequent financing arrangement to patch up those balance sheet problems in no way contradicts that assertion.

2007 Dec 05 09:36 AM

[John Lazerow:]

is this a joke? This guy obviously has a personal vendetta against Tom Brown. The first quote doesn't make sense - Tom Brown was and still is correct Citi can't do large deals. An investment in the firm is not a "deal". And then the last two are just piling on.

Come on seekingalpha - you can better than this!

2007 Dec 05 10:21 AM

[Witness:]

Greg,

Seriously, did you just not read Brown's Citi comment... it had nothing to do w/ a cash infusion. We know you're no fund manager, but aren't you supposed to be a journalist????

2007 Dec 05 11:10 AM

[fxtrader07:]

this is a prime example of bad "journalism" and how an article should never be written.
well, it's not even an article it's just , well, garbage.

at your age, Greg newton, you ought to know better

2007 Dec 13 08:47 AM

[FIG trader_:]

It was a cheap shot, and yes out of context. From my recollection, he was one of the first to call for a shakeup at C, before doing so was an easy "sell".

2007 Dec 14 09:10 PM