19709

Colonial Bank Failure Highlights the Problem

I wouldn't listen at this point either. Citi's price is now up to $5.08.


On Aug 24 09:17 AM Angry Banker wrote:

> Another predictable rant by Mr. Nielson based on over-simplified
> comparisons of asset markdowns after completely separate deals and
> under completely separate circumstances. I thought SA was supposed
> to be a site where investment theses were discussed. I guess Jeff
> is suggesting shorting Citi? Wait, of course that's always been his
> position, hasn't it? When I suggested in my June 24th article that
> Citi was too important to fail and thus a good long term investment
> opportunity, the ranters came out in full force against the company
> (as usual). The stock was trading around $3.00 then. Now it's over
> $4.75. Good thing I didn't follow Jeff's views on Citi's prospects
> at that time.... should I listen now?