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A rare analyst with a Sell rating on Citigroup (C), Charles Peabody estimates the bank could...

A rare analyst with a Sell rating on Citigroup (C), Charles Peabody estimates the bank could lose $5B-$7B this year thanks to the dollar's strength. The bank's global reach is a good bet, says Peabody, when growth is good, but slumping growth means the risks from currency swings are of more import. We're appropriately hedged, says a bank spokesman. Shares -1.4% premarket.
Comments (2)
  • Ted Bear
    , contributor
    Comments (624) | Send Message
     
    We're hedged!

     

    How funny is that?
    11 Jun 2013, 07:06 AM Reply Like
  • joker
    , contributor
    Comments (119) | Send Message
     
    You're the one that is really funny. Even I can hedge major currency swings. Don't you think a major bank could not do this?

     

    That 'rare' analyst obviously has short position on the stock. Too dumb to give a reason like this. Really, if he wants to make up some scary stories, something like a Citi whale type - like that in JPM - made a wrong bet and the loss is snowballing should be a better scary story. Just give a dumb thing like $5-$7 Bn in currency swing, that is plain dumb.

     

    Whatever the firm is, it should fire this dumb one.
    11 Jun 2013, 12:05 PM Reply Like
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