I figured it might be a good long term investment. Paid back tarp, Pandit seems to be a decent CEO/manager and maybe just maybe this ship that has slightly righted itself from oblivion can begin to get the engines working.
I dont know if you are stupid, I just think that there are much better places to put your money. Ex. IBM, HPQ, AAPL, GS, JPM, PEP, some foreign co. like ASIA, GFA, VIP etc. They may not have the 3X potential that C has but they probably wont be cut in half like C may.
You're stupid on two accounts:
a) You think Pandit is a decent manager to lead Citi out of this mess. Pandit is not fit for this job, he's way outclassed in this front, he could be some president of some division, but not the CEO setting an international bank's strategy.
b) You ask the Board to determine your intelligence.
As for your investment in C, well, the verdict will not be known until 2010. I think sometimes stupid people do get rich without truly knowing why or how.
There are 3 ingredients needed for success: a) Skill, b) Will, and c) Luck. You need at least 2 of the 3 to have a fighting chance. Looks like you have the Will.
You did know this will probably never pay a dividend or have any organic growth right? There are much better investments out there. Hate to say it but if you are looking for growth tech is the place to be and if you want divs well obviously banks aren't going to share especially this one....
What the heck did you invest for (divs, growth, hmmm is there another reason to invest????)
Tell us we are missing something here...Honestly.
But I guess this MIGHT outperform the mattress or a CD if it survives (risk is high the common eventually will be worthless though) and if you are really luck outperform Treasuries or a bond fund....
Just a bit of reality my friend - hope you can sleep at night knowing you invested in this.