Eddie Lampert backs up the truck on Citigroup

Quote from nazzdack:

"Cheap" stuff getting cheaper after you buy it is a good thing?
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sure

kosp was a good example before they got bought out. stock cut in half, excellent entry point. when the price more than doubles on the buyout (which was a low price to begin with) you're up on both positions.

good stocks get beaten up once in a while. if you happen to hold one of those you'd be an idiot not to buy more, unless you're holding too much of it to begin with.
 
Quote from ASusilovic:

No margin calls. He will do what majority of ET members do : buying deep out of the money PUTS ! :D :D :D
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Now that was good for a good laugh!:D
 
Quote from nazzdack:

"Cheap" stuff getting cheaper after you buy it is a good thing?
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If the price of a stock is already below or near book value of tangible assets and the debt is covered, there's very little risk in averaging down on losers. The valuation of the company hasn't changed, therefore, for a value investor, further declines in price are actually great opportunities to add shares of ownership

Worst case scenario...some other company buys out the company for book value (although more likely is that they will pay a premium).
 
eddie will be taking a big hit with citi. just look at a monthly chart on citi and where do you think the train will stop ? $15.00 . not over night, but watch or short.

bgp
 
give one reason to buy Citi or JP here....the market beneath them has vanished....and vanished for a generation....

just an opinion and I could be wrong
 
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