Don't buy corporate spin on write-downs

Don't buy corporate spin on write-downs

There are 2 comments on the TwinCities.com story from Mar 8, 2008, titled Don't buy corporate spin on write-downs. In it, TwinCities.com reports that:

Financial firms plagued by massive write-downs on their mortgage-related debt are trying to convince investors their fortunes aren't as desperate as they seem.

Join the discussion below, or Read more at TwinCities.com.

A Pascarelli

Derry, NH

#1 Mar 9, 2008
I admit that you're right about being wary of the corporate hype, but even so, shouldn't Citigroup @$20.+ a share be an appealing stock?
If not, why?
My opinion

Tampa, FL

#2 Mar 9, 2008
A Pascarelli wrote:
I admit that you're right about being wary of the corporate hype, but even so, shouldn't Citigroup @$20.+ a share be an appealing stock?
If not, why?
I wouldn't jump in at $20 because it will probably dip to $18 before the bouncing back. It is a decent long-term investment because Citi is has a good product and income base. However their short-term outlook is very unsure: how many more billion will be written off: how will Pandit reduce expenses by 15%.

It is going to be a very bumpy road ahead for the next couple of years but Citi will either come out of it stronger OR be taken over and broken up. As a long-term investor either outcome will give you a very good return.

Tell me when this thread is updated:

Subscribe Now Add to my Tracker

Add your comments below

Characters left: 4000

Please note by submitting this form you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

Armonk Discussions

Title Updated Last By Comments
News Martin Shkreli arrested by FBI on securities fr... Feb 6 solidarity 10
News Israeli First-Response Organization to Talk Eme... Jan 30 Samantha Paige-Gr... 1
Review: The Goddard School Jan 28 Amanda 1
(.R ox y Bulk!!) ku*sh !! Jan '16 Manordelivery 1
Selux Dec '15 Mike Dawson 1
Dr. Jaime Rivas Port Chester harbours ILLEGAL I... (Apr '13) Dec '15 americanwing 5
was white plains judged vetted????????? (Jan '15) Jan '15 Alexandra 1
More from around the web

Personal Finance

Armonk Mortgages