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Opinion on  Citigroup Inc (C)     Sector: Financial  >  Industry: Money Center Banks
Buy Citi on Wells Fargo Bid for Wachovia

Oct 03, 2008 09:50 PM UTC
Rxpic
Return Risk
-0.71% MID
Principal

Citi is a buy on sell-off today due to $7 bid by Wells Fargo for Wachovia. Citi is yielding over 5.5% and may not trade higher in the next week or month, but I believe it will return to the $30's in the next 1-2 years.

C:  This call was made on 10/03/08 @ $17.23
Rating:   Positive   $17.23 (10/03/08)
Closed:   11/20/2008 @ $6.13 (-64.42% in 48 days)


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bezelmonger    8 %     0 point   commented 90 days ago reply

Whatever the shakeout (that gets the credit markets off dead dead), Citi is one of three players in a trilllion dollar game. The fact that they walked away from the Wachovia deal says they have a real case and will benefit as time goes on. Like Mike, I see this a a Long but very real opportunity.

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