Citigroup is on fire
The bank's stock has nearly doubled in the past year. Should investors jump in?
Citigroup's (C) second-quarter profits rose 42% and shares have been on fire lately. But is this the same Citi from the Great Recession or is the underlying business stronger?
Motley Fool senior banking analyst Matt Koppenheffer explains how Citi has fortified its balance sheet and how the bank is dealing with a pullback in refinancing business. With the stock rising, Koppenheffer believes there is still room to run.
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Oh boy it's up from $2.50 PS to $5.18 PS disregarding the 10-1 reverse split. BAC, C, MS, GS and JPM are all whore houses looking for their next John. WFC is the only one that's worth anything. But like GM I wouldn't invest a dime in any of the TBTF taxpayers bailouts that screwed all of us for the last 4 years.
Having Bank stocks a few years back, They were one of the positions we cleared out before their downfall in share prices...Actually just got lucky and had taken some apprecation and 4% plus dividends for a few years or months...Plowed profits into other stuff or held some cash reserves.
Normally invested in Large Regionals only..
Their Dividends were paying more then their CDs at the time...Reason for purchase with CD cashes.
Got into I think Pinnacle for awhile too after blow-out, finally sold getting a touch more then even.
Haven't been back to Banks since, except REITS...so-so right now..
Old bank investment has went up about 35-50% since bottom, but who could pick bottom??
So have many other stocks or went up much better..
And the bank still isn't paying divs....Why bother with banks ??
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Stocks drift lower and bonds are hit as investors await the Fed. Prepare for higher volatility this week.
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