Originally posted by: LegendKiller
Originally posted by: Jadow
Originally posted by: JS80
Originally posted by: LegendKiller
Originally posted by: Jadow
I think TOMORROW MORNING will be an historic opportunity for investors. Go ALL IN on Financials! Folks, we are AT THE BOTTOM in the financials, I'd be buying any bank, esp Citigroup.
ROFL, you are kidding, right?
Are our sarcasm meters broken?
Sorry, but I'm not being sarcastic. I believe in buying stocks when no-one is positive on it and there's no "hype" and selling them when the opposite it true.
Citigroup is at a 60% discount from it's all time high, they just removed a lot of the doubt when they announced earnings and cut the dividend to a more realistic number, and frankly, I think much like a "Hot Deal" this stock (and many others) are on sale right now, and a good solid buy.
Because after the tech bust the only reason why Citi stock was at a fraction of what it was before was because it had 30bn in subprime CDO tech stock write-downs?
Ohh, that's right, it was because we went into a recession and they couldn't depend on IPO, M&A, and advisory fees to drive their business, and brokerage sucked. At least, until the next bubble hit.
When's the next bubble BTW?