Traded around some calls last week on C. Debating if I want to purchase some OTM calls in Jan-Mar on a run down to 4 or below. Cheap lottery tickets but lottery tickets seem to be paying off in this market. Currently no position in C (outside of mutual funds and who knows what they are holding these days except their hands in a wringing fashion.)
they own it pretty much anyway. they gave them 25 billion dollars. if 25 billion can't fix you than you can't be fixed.
I bought C at $14 thit was a great buy WTF it is a t $5 MY portofolio is like - %50 May be be today it will be - %65
He said that sovereign wealth funds were suckers for buying last year and they should have waited until the banks were trading at $5/share. "They're making a big mistake; these banks have many more problems still ahead. They should wait until these companies are really on the ropes a few years from now . . . and trading at $5 a share." He has been dead wrong on commodities for most of 2008 but he was spot on with his investment bank call. It remains to be seen if $5 is a good bet or not. Probably 50/50 at this moment.
I doubt he's buying any; not with Citi crying for a reinstatement of the short selling ban, and with some massive toxic write downs on deck for Q4.