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Citi’s Hedge Fund Litigation Problem

Here's the problem: Financial advisors are required to learn thorough information they're rigorously tested on, covering traditional financial instruments such as fixed income, stocks and mutual funds. The SEC has not adequately required advisors to have adequate knowledge on structured products, hedge funds, and other non-traditional products. The SEC should also prohibit the sales of these products to any customer unless he first passes a test himself demonstrating a deep understanding of the product. We've seen time and time again how Smith Barney and Citigroup aggressively sell products to people who lose money on them because they didn't realize how disasterously risky the products are. And nothing's changed since this was uncovered years ago. Smith Barney/Citigroup is still feeding a bunch of crap to their customers. Ever wonder why Smith Barney's price targets on stocks are consistently higher than the other brokerage firm analysts' price targets? It's because they think they'll get more cients by provinding the highest price targets, obviously. DANGER, WILL SMITH, DANGER!!!

Citi’s Hedge Fund Litigation Problem

Citigroup and Smith Barney are places no person should put his/her money. Smith Barney has been proven over and over again to be deadly to the financial health of people who buy their proprietary products or who follow their research analysts. Anyone who holds accounts at Smith Barney must be out of his/her mind. I would never be caught doing business with such a self-defamed financial company when there are so many other reputable places to invest through, such as LPL, the largest independent firm where you can be assured of little or no conflict.

Calling It Quits on Gold, Platinum - It's Time to Go Financials!

The author is obviously an amateur.

Vikram Pandit's Amazing Disappearing Hedge Fund

This is not simply embarrassing for anyone, but it's a disgusting revelation of insider-dealing whereby the owners of the stock in Citicorp get shafted time after time. The deal whereby Pandit was so overpaid paid for this garbage fund should be called back, and he should get nothing. And he should get fired from Citigroup. Every board member should get fired from this stupid company, too. The same crap goes on year after year. I can see Citicorp going out of business and investors losing every dollar they've invested in the stock.

Jim Cramer's Mad Money Lightning Round, 4/9/08: Ivan Jilts Cramer

TRN is grossly underpriced, and it has completed a bottoming process and is now turing up again. Cramer loved it at almost twice the price because he cannot evaluate stocks properly. Now at the bottom he hates it because it burned him. Now you know why he doesn't manage a hedge fund, He buys high and sells low. Which is why nobody listens to him. What a joke.