Yeah...the US government NEVER makes bad financial decisions and Prince Alwaleed was buying C back in 2003 when the price was in the mid 40s. Try to remember there is something called the bigger fool theory and I dont see any bigger ones than the US government, Alwaleed and the many others on here that are putting a significant amount of cash into C. Let me ask this. All you people that are buying C at $4 and hoping to sell it at $40...who is going to buy C at $40? I mean, where is the money going to come from to cash you all out at the same time? C was about $40 in 1977. If you held for the first 15 years, you doubled your money. C will be like that again. It will be 2025 and C will be at $8. C is also a daytrading stock so traders are shaving pennies off this stock every day.
there's also a bigger theory called BUY LOW, SELL HIGH. i'm absolutely buying C for the long run. it can't go down, only up, and i like those government guarantees and saudi princes with more money than brains buying up at $45. didn't he do a deal for apple way back when it wasn't $250? this conversation... is over.
Looks like you are down $3k this morning. <object width="480" height="385"><param name="movie" value="http://www.youtube.com/v/Jnp8j9jxeuU&hl=en_US&fs=1&"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/Jnp8j9jxeuU&hl=en_US&fs=1&" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="480" height="385"></embed></object>
It can go down? Its down almost 3.5% today! It can also go sideways for a decade. Heck...it might go down to $3.50 and stay sideways for 10 years. You put $100k into Citi and assuming we only have normal inflation, you still lose 50% of your buying power after 10 years. If there is high inflation, you lose even more. If you are going to gamble, buy a small company that can really grow. Dont buy the biggest company and think you can make the same returns just because its stock price was once high. Look at a company like yahoo. Its still down 90% off its high from 10 years ago. The financial bubble burst just like the dot com. Those finance stocks are going nowhere for a long long long time. The mindset of the people is that these finance stocks are risky and they are price accordingly now.
i was short the dot com stocks in april 2000... no, C can't go down. it's indexed to the preferred at ~3.85. it only varies on major market moves. it will be $4 by the end of this month.
I changed my mind no C; I still own the stock but I've decided to write OTM covered calls until it gets exercised or I decide to sell.