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Friday, November 27 2009  |  09:49 EDT  | 
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Market Currents

Thursday, August 20, 2009
3:38 PM TweetThis
  • Dick Bove on Citigroup (C), up 8.7% today: "People are buying it now in expectation of the triple [that shares will be worth three times as much in three years] because they made the decision that all of the negatives that could happen don't mean anything."
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This news story has 7 comments:

  •  
    Well, thats why they call it gambling.

    It is not unexpected nor surprising.

    Why should it shock anyone that American's have little or no net worth?
    Because everyone wants that one lucky lottery ticket.
    Aug 20 03:50 PM | Link | Reply
  •  
    A suckers is born every minute.
    Aug 20 03:56 PM | Link | Reply
  •  
    Well, we all know that the stock wont be worthless. That's the beauty of too big to fail.

    I heard that moron Cramer pumping it last night on his circus show.
    Aug 20 04:05 PM | Link | Reply
  •  
    2 things A- the stock is up quadruple what it was about 5 months ago….doubt people playing this name for spec are playing it for a 3 year yr trade (and only expect it to triple)…or most people anyway..very doubtful

    B – majority of the movement is related to the credit side and the bonds…citigroup cds has tightened big time from last yr and the bonds have performed decent…its no bofa but the performance has been amazing..current sr 5 yr is at 281bps last month it was in the 330s...the month prior was 430's...

    To the other commenter’s …lottery tickets have been everywhere the past 5 months...can’t blame people for feeling like they missed out…a sucker is the guy sitting on the sideline w/ his hands in his pockets…

    can't just focus on equities - need to look into other various leading markets for indicators...and trading is much more different then investing...i'll trade garbage all day...
    Aug 20 04:10 PM | Link | Reply
  •  
    Bove = stupid liar
    Aug 20 05:16 PM | Link | Reply
  •  
    Bove has been wrong for three years on the financials. He was wrong on the way down and wrong over the last 9 months. He's also on his 3 or 4th firm in as many years. Who's he with this week?
    Aug 20 10:55 PM | Link | Reply
  •  
    People are buying it now because they think the worst is over. They couldn't be more mistaken. Bailout part 2 won't be forthcoming, so there's no way to save $C.
    Aug 21 11:59 AM | Link | Reply
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