Professor Elam

Tuesday Jan 19, 2009

Citibank has one of the wealthiest investors in the world telling it this is the year, or else.

Prince Alwaleed Bin Talal gave $600 M of C stock back to the company. While this increased the retained earnings I am not sure it says much positive. C is trading for $3.60 down from the $52 when the Prince started buying. The Prince has waited far too long to demand changes. Most other large bank stocks have rebounded, C has not despite TARP et al.