Comments for c - Stockpickr! Your Source for Stock Ideas

Comments for c

Added By	Comments	Type	Date Added
barrons2	No surprise, again, Citigroup (C) wallows near the bottom of this year's list, in the company of deeply distrusted, state-influenced Russian and Chinese oligopolies. At No. 99, much-maligned Citi is wedged between Russian energy giants Lukoil (LUKOY), at No. 98, and Gazprom (GAZP.Russia), at No. 100.	Love	September 06, 2008
sarah z	“Memo to American International Group (AIG) and Citigroup (C): You are getting your chance again. You are getting your chance to do big equity offerings because Merrill Lynch's (MER) secondary at $22 now looks like the best trade of the year. “I believe that if AIG and Citigroup could at all quantify their losses, or even take charges and then issue equity against them (even in the hole), you would see major buying in the banks -- and those deals would work, too. I continue to believe that the banks bottomed along with the dollar and the end of the commodities on July 15, but we need Lehman Brothers (LEH), AIG and Citigroup cleared up so that there is room for Fannie Mae (FNM)/Freddie Mac (FRE)/Washington Mutual (WM) to be fixed or nationalized, and we need a resolution for Wachovia Bank (WB). The strength in these stocks is so loud and so evident that I can't believe nobody sees them, but we only need Vikram Pandit and Robert Willumstad to notice. Come on guys! Join Dick Fuld. Get energized! (CNBC is saying that HSBC (HBC) might be interested in Lehman. What I said today in my video stands: The company has options. That's what matters.) Get the equity deals done, the charges taken. Give us a Merrill Lynch!”	Love	September 04, 2008
amoshorse	management	Hate	September 04, 2008
tmcevoy	sucks	Hate	September 03, 2008
nanku71	No particular reason. I guess I love being part owner of the largest bank in the world :)	Love	August 29, 2008
vandavis	black hole	Hate	August 29, 2008
barrons2	7. Citigroup (C): Maybe still one more reorganization is exciting someone? Citigroup's problems now look more manageable than AIG's (AIG) or Lehman's (LEH) or Washington Mutual's (WM)? I am not even bothering to include FNM and FRE anymore. If Citigroup goes above $20 and then don't do an equity offering, they are truly pathetic. Maybe someone likes the possibility that Bob Rubin's power is diminishing, which it seems to be with this new hierarchy? Or maybe Rubin's getting ready for another four-year trip to Washington for the Obama coronation.	Love	August 28, 2008
jkulka	undervalued giant	Love	August 25, 2008
pparker0236	Bad previous management, balance sheet looks terible	Hate	August 18, 2008
barrons2	Q: Give us some shorts, please. A: Let's start with the obvious. You can't have financial institutions levered 30-to-1, which I think is the case in Europe, or 25-to-1, which I think is the case in the States, and expect nothing bad to happen. So, we have been short the banks for a long time. And the brokers. And the mortgage lenders and mortgage guarantors. We typically short stocks, not ETFs or indexes. We've been short Bank of America [BAC], JPMorgan Chase [JPM] Citigroup [C}, Goldman Sachs [GS], Merrill Lynch [MER], Lehman Brothers [LEH], Morgan Stanley [MS], SunTrust [STI], Wachovia [WB], Washington Mutual [WM], Capital One [COF]. There's hardly a financial name that we aren't short.	Love	August 16, 2008
An Ma Ding	too much debt, too many unanswered questions	Hate	August 15, 2008
skurtti	It has a real problem with making money even before the financial crisis	Hate	August 14, 2008
James M. Vallandingham Jr.	DIVIDEND AND BOTTOM FISHING	Love	August 14, 2008
sarah z	“Maybe it is time to differentiate the banks. That's what I saw Mike Price do in a fascinating interview on Bloomberg, where he says he doesn't like Wachovia (WB) or Citigroup (C). At this point we know of two kinds of banks -- the ones that have refinanced or don't need refinancing and those that need capital badly. I think it is obvious that Citigroup, Wachovia and Washington Mutual (WM) need capital, the last being truly a joke because Kerry Killinger -- still the CEO! -- came out last week at an analyst meeting and said the company didn't. John Thain lives! A portfolio that shorts Citigroup and Wachovia and goes long Goldman (GS) and U.S. Bank (USB) -- no capital needed -- may be not bad here if you can get the ratio right. Everyone's cutting Goldman numbers, which is logical now, except at a certain point, the shrinking of this industry is going to make them a huge share-taker, and they will actually be able to raise price one day. But the real problem numbers are with Citigroup and Wachovia. The latter has a plan, which I believe will be to split the bank in two: a good bank and bad bank -- a la Mellon in the 1980s, a very successful split -- but people have to remember that the split was initially a voracious user of capital. That initial drawdown hasn't happened, although the rally in the stock makes it right. The writedown sets the company up for the capital raise I believe is coming. Citigroup is different entirely. It is just a giant deposit base with everything else offsetting that deposit base. I still can't see how they can make it without raising a huge amount of capital. They will, and the bank will stay in business because of that capital base, but the idea that they don't need more capital when we didn't even know the size of the hit in auction-rate preferreds is a little ridiculous. I am sure they have no idea how much capital they need, and they have no idea how bad their portfolio is. Which reminds me of AIG (AIG). I am deeply focused on their inability to value what they were on the hook for at their Dec. 6 meeting, the one where they basically said if everything goes bad in the 2006-2007 vintages they would lose no more than $500 million. Yes, that's an "M," not a "B." That's because they didn't know what their real exposure was because it was all based on models and then blessed by a Wharton professor. The stuff's pretty embarrassing. Of course, no one gets shamed for it because we are on Wall Street, where anything goes and Fortress (FIG) pays some guy $300 million to generate what? Losses? Sorry. I am outraged. Citigroup is like AIG writ large. AIG made this really big deal about how they pulled out of all of these mortgage markets in 2005 because they "saw it coming." Of course, despite the pullout, they had tons of exposure to it and their exposure to Europe is now really atrocious -- they seemed to have no standards there are all, despite their admonitions about how careful they were -- and I am confident will make it, so AIG has to do a capital raise. The real crime of this bank run -- AGAIN -- is that other than Merrill (MER), nobody raised funds. No one. Now we have to endure another downturn, where I believe WB and C will have to force one on the market. They are the shorts. The well-capitalized ones are the longs. Just as they should be.”	Love	August 12, 2008
danamiller03	plummeting share price	Hate	August 08, 2008
luis liendo	Disaster for a financial institutionproduct need to assist less fortunate buy a home	Hate	August 07, 2008
doggieh	my core banking	Love	August 06, 2008
stockerblog	6.8%	Love	August 04, 2008
paladin56	A recent pick. Getting them on the downturn. It is too big not to rebound. Will hopefully start to narrow down their focus back to banking related topics.	Love	August 03, 2008
Harry Turkish	Do I need to say more?	Hate	July 30, 2008
sarah z	“No one did a deal. The financials rallied gigantically, there was tremendous enthusiasm, and yet no bank was ready with an offering. It is amazing, especially when you consider that the natural gas companies, like Chesapeake Energy (CHK) and XTO Energy (XTO) were ready, despite horrible declines in their stocks. The moment that Citigroup (C) got through $20 or Merrill (MER) through $30 or Lehman (LEH) through $20, they should have peddled billions more in preferred stock or even common stock. Just spot 'em right out there. For about a week, people decided the rally could - and would - last if these banks had built up some fortresses. They didn't. And that's why we are back in the same predicament. I don't want to write here which bank is next to fail. There are enough of them (particularly one that just changed its CEO) that the FDIC will have to have a plan to keep the bad loans and sell the banks, maybe not even with the branches because all that's worth anything is the deposits. But if we only have Wells Fargo (WFC), Bank of America (BAC), JP Morgan (JPM) and US Bancorp (USB) as possible buyers, we are not going to be able to get through this period without some major runs on the banks. The other day, the head of the FDIC was on Squawk on the Street and Mark Haines playfully asked her to give him the names of banks that they might have to seize. She was coy. I wanted to throw up. Everyone that knows how to read a balance sheet knows there are some banks with non-performers that are skyrocketing past where the banks can be saved. And we should expect bank lines. The math will be done: Indymac knocked off a bunch of capital, leaving less capital for other banks. People will freak out. We don't have emergency funding in place for the FDIC. So we could be right back to where we were that weekend when Indymac collapsed without a plan, which led to an aggressive seizure and more bank-raised capital. That's what could have occurred. Now the shorts are back in control and nothing got done.”	Love	July 27, 2008
QuickSilver	Too much fat	Hate	July 23, 2008
GustheTrader	still has huge mortgage related losses	Hate	July 21, 2008
darknight	too much exposure	Hate	July 20, 2008
paul0425	lowered dividend	Hate	July 20, 2008
dartboardtrader	They are a pain in my ass and i am so pissed they have dropped this much. Banks that are no good with money go figure.	Hate	July 18, 2008
barrons2	Cramer was also bearish on Citigroup (C), Wachovia (WB) and Bank of America (BAC), and even brokers such as Lehman Brothers (LEH) and Merrill Lynch (MER).	Love	July 17, 2008
tryit54	good financial co. bad business practices over time, it`ll recover	Love	July 16, 2008
trader2400	Low Price	Love	July 16, 2008
lodragon	wheres the money	Hate	July 13, 2008