Posts
Citigroup's $9.8bn sub-prime loss
Mr Pandit has pledged to turn around Citigroup's fortunes.
Citigroup's Adjusted Close: $25.47
June 15, 2009
"Something went wrong over the last few years"
Citigroup's Adjusted Close: $3.37 (87% loss)
Something went wrong over the last few years? Sage wisdom from the man who ought to know. I now present you with the musical genius of yet another Pandit.
Oh yes! I can feel Citigroup's stock price healing as we speak. Look into Pandit's eyes and let Miserlou consume you!
Source Data:
Yahoo: Citigroup Historical Stock Prices
Thanks to Kevin for inspiring the post.
17 comments:
Mark,
You know looking at that chart I think that "something" was a reversion to the mean.
I thought they taught that in those high class schools but maybe not, obviously the US just about has to be dead last in basic math.
Obama: US govt could go broke if healthcare not fixed
http://tinyurl.com/lfh7d9
Uh-Oh, guess the Oh-man doesn't know that "something" will probably happen and the math never lies.
Kevin
Kevin,
"You know looking at that chart I think that "something" was a reversion to the mean."
I'm tempted to agree with you but it could actually be worse. The chart looks more like Devil's Tower to me, lol.
http://illusionofprosperity.blogspot.com/2009/02/fifth-third-half-of-year-recovery.html
"I know this sounds crazy, but ever since yesterday on the road, I've been seeing this shape. Shaving cream, pillows. Dammit! I know this. I know what this is! This means something. This is important. - Roy Neary, Close Encounters of the Third Kind, 1977"
OMG!!
Hilarious Mark!
Seriously, please email me how you were able to make that "something" graphic on the Citi chart, I so need to know how to do that!
Great stuff.
PS,
yes I know I am lacking in computer skills. I am more like a "Liger, bred for its skills and magic".
Film??
GYSC,
Napoleon Dynamite!
I have a memory like a steel trap...well, that's been left out in the rain so long that's seriously rusted over.
In other words, I used Google to find it. ;)
As for creating the charts. I start with Microsoft Excel. I then then do a screen shot and edit it using Paint Shop Pro 7.
Check out my pride and joy. Here's a chart of the Federal Funds Effective Rate as a National Campground Version. I did it in September of 2007. If I was to update it today, I'd clearly need more skiing, bear, and diving signs, lol.
http://illusionofprosperity.blogspot.com/2007/09/sarcasm-report-v6.html
Mark,
I have no idea how to do that, but maybe my wife can help, she knows that stuff.
My fav chart is DOW/Gold or S&P/Gold as it has its own meaning. An older one here:
http://bigpicture.typepad.com/comments/2006/10/dow_gold.html
Did you feel the weight, the meaning in your ounce of silver? It has been money since time began, and it still carries a nice feeling.
Sorry,
great call of the obscure film quote, wiki or google makes it not fair unless in person for major props.
GYSC,
"Did you feel the weight, the meaning in your ounce of silver?"
I owned a LOT of silver from 2004 to 2006. My garage floor sure felt the weight, lol.
It gets heavy fast, thats for sure. Glad I buried mine in the backyard, now if I could just find that map............
Korla has a great deal more talent and entertainment value than Vikram.
GYSC,
Never bury the map with the treasure! ;)
Anonymous,
You have to admit that Vikram's entertainment value sure is "something" though! ;)
In the something happened department.
NEW YORK, June 16 (Reuters) - Redbook Research on Tuesday released the following seasonally adjusted weekly data on U.S. chain store sales:
Year-over-year: Week (w/e 6/13/09 vs year ago) -4.8 pct
Year-over-year:Month (June 2009 vs June 2008) -4.6 pct
Month-over-month: (June 2009 vs May 2009) -4.5 pct
http://tinyurl.com/njgw5j
Crude Oil Poised to Break $79, Head to $93: Technical Analysis
http://tinyurl.com/m2gj9e
We had the 4th increase in gas prices here in the last 4 weeks up 15%
Kevin
Kevin,
“If the market trades sideways through the summer, the breakout over $79 will be stronger when it happens and crude will go higher quickly to $93 and $99,” Bruno said."
I sort of assume that if oil quickly moves to $99 that it would pass $93 on the way there. Call me crazy!
His tea leaves can predict the future price future oil to the exact dollar, but can't tell him what will happen this summer? Hey! That's my system!
I use "Market Uncertainty Principle". It's derived from physics!
1. I can tell you an exact future price, but then I can't tell you the date.
2. I can tell you an exact future date, but then I can't tell you the price.
Hahaha! I can do this with utmost precision too! :)
Stag,
I'm a devils "tower" advocate too. That Citi chart screams deflation to me. It mirrors this chart:
http://finance.yahoo.com/echarts?s=FNM#symbol=FNM;range=my
Charts of AIG, FRE, BAC, etc. all look the same.
Something happened? I'd say that "something" is the credit bubble popped.
On a personal note, I've definitely hardened my deflationary mindset. I'm spending way less and still have no desire to take on risk. Prices are still too high against a backdrop of too much capacity and sick demand.
If the price of gas rises, I drive less. I also cut back somewhere else. The fall in short term interest rates didn't increase my spending or desire for risk either. In fact, just the opposite occured.
I think the system is broken and corrupt. Nothing but rock bottom prices are going to get me to spend. I've got a total bunker mentality.
I see the bunker mentality taking hold in others too. Demand has taken a major blow. Even if demand gets up off the canvass, I think the fight is over.
It will be interesting to see who blinks first. Me or Bernanke and his rising commodities and falling dollar.
Oh no! My word verification is "premanic". I just argued for post manic.
mab,
"I think the system is broken and corrupt. Nothing but rock bottom prices are going to get me to spend. I've got a total bunker mentality."
Welcome to the club! I'd charge dues of course, but let's face it. I can't afford your pricing scheme. Rock bottom is $0 and the price to print the membership card would no doubt exceed it, lol.
Next up... I suggest you hoard basic needs if Bernanke demands you spend your money. Works for me!
Now that you are an official member, there is one question in the club's survey you may wish to answer.
"1. How much money would have to be dropped in your backyard before you'd be willing to take a first class flight to Nevada's Sin City and/or New York's Wall Street to participate in some serious casino action?"
Here's the current survey results in case you are curious.
1 out of 1 existing members wrote down "infinite".
Hahaha!
"1. How much money would have to be dropped in your backyard before you'd be willing to take a first class flight to Nevada's Sin City and/or New York's Wall Street to participate in some serious casino action?"
I'll answer that, but not quite directly. It's not the amount of money or interest rates that matter to me so much. I see no point in going to the CONsino knowing/believing that I will lose.
In my view, asset prices are too high. Even if I could invest with a non-recourse loan, I doubt I would. That would be borderline fraudulent - just not my nature. Quite frankly, I value my time over tomfoolery.
I'm still short vanity and long free time.
mab,
"Quite frankly, I value my time over tomfoolery."
Smart Phones Beat Inflation
http://www.forbes.com/2009/06/16/semiconductor-orders-revenues-intelligent-investing-smart-phones.html
"Chip makers will thrive as the smart revolution overcomes the recession."
"The sure-fire indicator we'll be looking in the upcoming quarterly reports will be no further reference to so-called green initiatives as a source of future business. Chip executives are some of the brightest and well-educated folks on the planet, so we chalk up previous tomfoolery to desperation to fill their fabs during the downturn."
Nothing says brightest and well-educated like toomfoolery and acts of desperation.
That's what I always say. When I say always, I mean starting today of course, lol.
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