C's book value $62.51 - much more upside to come for stock
C's book value is $62.51. #$%$ Bove doesn't consider banks overvalued until share price is 1.5 x book value. As fundamentals improve C's book value will grow. C is going higher. Give this a year or two and it will be closer to $100 than $50. They might even start paying a decent dividend in a year or two. Excellent longer term hold.
C book value is a fiction. They mark to model not mark to market value. If they had to liquidate
their so-called assets you would be lucky to get $20/share. Also they are vulnerable to any economic pressures around the world. Take your big gains and go play ball somewhere. Pigs get Slaughtered.
You will learn that.
Thanks for your advice but I will ride C. The fundamentals have changed despite the best efforts of politicians worldwide to screw things up. The economy is doing its thing. Housing is recovering and long rates are starting to drift higher improving interest spreads. I understand pigs get slaughtered but we're not near the pig stage yet with C. BTW, pessimists tend to be wrong over time. For whatever reason the world never does seem to end despite predictions that it will. I recommend you follow your own advice and short C and enjoy the ride. :-)