Citi Falling Fast(est)
Posted By: Dr. Frugal in Economics on 11/02/2007 at 05:19:45
Citi has been fading fast and has been kind enough to bring just about everyone else down with it.
Citi closed down 6.9 per cent after analysts downgraded the shares and questioned whether further asset writedowns could leave it short of capital.
Morgan Stanley, Barclays, UBS...all are sinking on Citi's back. I will say this--I do believe investing in Citi is a good idea if you can wait another four months. It's not like housing isn't going to come back and even though Citi will be much more cautious, the second largest bank in the world is only going to go back up.
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