Citigroup Facing $7 Billion Currency Hit on Dollar, Peabody Says
Citigroup Inc. (C) could lose as much as $7 billion on currency swings if Charles Peabody is right, putting the analyst at odds with peers who say the stock will be the best performer among big U.S. banks in the year ahead.
He was wrong last year when he made a similar call. I think his estimates were off by a magnitude of 2X or 3X what their actual currency hit was. This guy is a clown. A broken clock is right twice a day......
There are very few honest analyst who tells truth. Everybody else claim that how CEO smartly separated good and bad assets in two different pots. So what? the bad assets still belongs to CITI. The effect will be same. How do they call it smart idea? The entire WS is shorting it at higher by fooling retail investors using the creating the good news and upgrades. This WS is complete fraud. When market crashes CITI will go to $20 or even $12 same as BAC.