BxCap

Citigroup's Flush

Update. Meredith Whitney was right, as C now trades closer to her estimate of 11-12 than this article's non-sense. MW has just revised her estimate....lower. The situation WAS worse than the writer thought.

Citigroup's Flush

Update: 4/21/08 Parmalat (Italian) just got the OK to sue Citigroup over events that took place in 2003. Funny how the obvious keeps happening.

Citigroup's Flush

Voice of Reason, I went through this same debate dynamic with Newcastle (NCT) back in December, and I though those that were bearish and thought the once $35 stock, then at $13, was a steal based on their book value of $18 plus. With every write down or mark-to-market, it got worse. Luckily I just bit the bullet and sold my position, bought at $16.50, for $13.50. Three months later, it's banging around $8-9/share, and I still feel badly for those that, like me at the time, were believers. They had done a lot of homework, but you can't see through the curtain all of the time. In fact, you're not supposed to see through it, as "information-withholdi... protects the interests and investments of these companies. Great points made about lawsuits, and the inaccuracies of analysts. Enjoyed the thread.

Citigroup's Flush

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This might help you understand Alt-A....Sacramento Style....

Citigroup's Flush

Meredith Whitney says the quarter for Citigroup may be $3.00 to the downside and it comes in at $2.20 in the hole and everyone's dancing in the streets? Lehman has $84B in Alt-A and NO ONE is paying their mortgages in CA, NV, FL, and CO. Citigroup is out of the student loan business, and out of the mortgage business. SIV's are about to be a thing of the past. CDO's aren't moving anywhere, Citigroup just lost a court case associated with Enron, showing you how long liabilities really last, and you're trying to pump Citigroup to me? Only a Sovereign Wealth Fund or billionaire gambler could be that dumb. Read George Soros' "The Alchemy of Finance", pages 84-89.