Many people, I think, are overthinking C. The company is getting rid of bad businesses and keeping good ones. It has branches all over the world.
It has already been through the investigation mill, with no consequences. It does have a plan to get rid of bad loans and investments -- the one that is Citi Holdings -- and hardly a day goes by without it dumping something, such as that hotel chain mentioned today.
The overhang? You buy before the overhang lifts. Everyone knows about it. The government has proven to be a savvy seller. You think it will price its stake at $3.95? OK, you can wait, but not for too long.....
Every time you read about a thaw in hard-to-understand bonds, such as collateralized debt, you should think Citigroup. If it can get out of that holding-company structure and make a lot of money on its deposit base, you're going to be asking yourself: "How in heck did I miss that 10-point move for 48 cents?"
very long C leaps