Awww, the flavor of the week, and still NO grasp of the merchandising of paper. BTW, where are the Countrywide clowns? Circus leave town?
Attached is a chart of (4) decades of ...........time frames. I seem to recall problems with LDC's in the mid-70's. Years, not price. Sandy Weil, John Reed, the current clown. Doesn't matter. Traveller's comes and goes. Doesn't matter, except as an alibi to move paper. Strong trends on high volume = Specialist busier than usual. Eh................he matters.
Oohhh the stalker thinks he's twisting the knife. YEP, BOUGHT CFC AT $30 WITH THE LOGIC BEING EXTREME WEAKNESS. MIS-GAUGED SUPPORT, BUT GIVEN THE SAME CIRCUMSTANCES, I'D DO IT AGAIN. STILL HAVE IT. BEING MARKED TO MARKET, ALREADY ADDRESSED TAXWISE. ANYTHING FROM HERE IS GRAVY AX IS FLUSH WITH INVENTORY IE HIGH VOLUME, HE'LL RALLY IT AWAY AT SOME POINT. LET'S SEE, A 3 POINT GAP COMBINED WITH A TREND DAY COULD MOVE IT 8 TO 10 POINTS. STAGGERED BUY STOPS, EVERY QUARTER POINT WOULD ACCOMPLISH TWO (CAN YA COUNT?) THINGS, 1. LOWER MY BASIS, 2 BRING UP MY STOCK. GRAVY. THAT'S A WAYS OFF, BUT UNLIKE YOU, I'VE GOT BOTH PAITIENCE AND A MANAGABLE POSITION SIZE AND........EH............OTHER "CONTRIBUTIONS". I HAVEN'T REALLY BEGUN OPERATING................YET.................AND.......................THIS IS A CITIGROUP BOARD. Have no position in C, just the flavor of the week, HOW MANY POSITIONS DO YOU HAVE "LONG"horns? Any? I know you've got posts. We can all see that. But.........how many positions? IF you wanna be (not to be confused with wannabe) insulting. Put some TEETH into it mister 2400.
I still own Citi, in my long-term retirement account and have been picking up more because I think they're still a great value. Chuck Prince has been a diaster among the company, and, in my opinion, should resign on Sunday's emergency board meeting, as the WSJ is reporting he might do.
owning financials other than select regionals would be bad right now. there could be more writedowns before the true value plays start to shine. asset impairement and fuzzy accounting isn't a good recipe for a long term hold.