On Nov 26, 2007, at 10:16 PM, Jordan Hayes wrote:
> If history is any guide, that's a good deal for ADIA that will get
> paid
> back handsomely by the market -- not Citicorp. Don't forget their
> other
> angel, Prince Al-Waleed, put up $550M in the early 90s in a similar
> deal; those shares are worth ~$10B now. Ok, less in the last few
> weeks.
> But still.
>
> I'm long-term bullish on Citi; this is a buying opportunity.
You may be right about them long-term. I was talking short to intermediate - they've got a problem, have to rebuild capital, and can't afford to pay dividends and buy back stock right now. Two years from now, another story. That's about what it took them to recover in the early 1990s.
Doug