Cash is 808 billions, debt is 646 Billions; thus, C has 162 billions in cash!!!! divide that by 3 billions of shares, you have close to $60/sh.
This stock is way undervalued!!
My point about mark to market was, to those claiming a stock price based on Book or Tangible Book, that just half of C Holdings if marked to market could wipe out most of the TBV.
That's not including mark to market'ing C Corp.
The JV might be worth a couple of billion. But C Holdings loses a billion every qtr.
I agree, we have a reversal. I plan to buy more on Monday in pre-market. The market and C are going higher tomorrow. China exports are better than expected and Spanish banks are going to get a capital infusion. This is good for a $3 up day for C and at least a 2% increase on the S&P 500. If the Greece Elections rule out an exit from the Euro next week, C will at least go up to $38 or maybe more by July 2nd.
Cameleon, Your logic is that of a 3rd grader !!!! For starters 162 divided by 3 is 54, not "close to $60." It's closer to $50. #2 what is their deriv. exposure / potential losses ? What is their exposure to bad mortgage loans ? #3 If the brillant Obama admin. passes law preventing banks from "trading the markets " How will C make money ??? Do you really think a novice market player like your self has found a "Bargain stock" ????? YOUR OUT OF YOUR LEAGUE !!!!!
you are right, Banks are out of my leaque, I admit that there are lots of factors involved. But no one can see everything; I can't control or tell Jo Schmo not to short sell at the lowest in two years with a PE of 7. But he does it anyways. I can't tell my next door neighbor not to panic and sell at the lowest in two years when the company has been around for 200 years. But he does it any ways because of illogical fear. Too many factors.
I have to agree with you on restrictions imposed by government-- they want to prevent big banks from buying their own stocks to manipulate the price higher. But the down side is that now you have mass fear in the market and there is no way of controlling it. Irrational investors bail. Who is gonna stabalize it? The FED. Uncle Bernanke to the rescue. The gov wants better control of the market, control they will have.
In regards to exposure to bad loans and Euro investment, I am clueless. But with $164 billions of cash sitting around. Even if they made a blunder and loss $2 billions like JpM, they would still have 162 billions. I am a simple guy doing simple math. I am glad you brought the Euro topic up, when the pour nations exit Euro, you have people pulling cash out of poor countries and depositing into richer countries. Banks like Citi conduct businesses in the richer countries, not poor ones. Hence, there will be better cash flow-- the market will flourish. I am just a simple guy with simple thinking. I will leave the fine details to you.
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