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Citigroup is back on right footing,5-10yr recovery
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teeth53
Supreme |
28-Feb-2009 13:39
Yells: "don't learn through life, learn to grow with life " |
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When one want to convert shares...it has to be at the lowest...as low as possible...so it mean to pay as low as possible as accord to market rated traded price
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teeth53
Supreme |
28-Feb-2009 13:33
Yells: "don't learn through life, learn to grow with life " |
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teeth53 thot: Conditional apply...We don't know what transcend behind closed door... Conditional that other SWF's like GIC, Saudi Arab Prince Alwaleed Talal, Capital Research Global Investors and Capital World Investors does the same, converting their preferred shares. Citigroup will be on the right track given what US govt and it treasury dept does...when it current board chairman Mr Richard Parsons mentioned Citi will also reshape its board of directors which will have a majority of new independent directors as soos as possible. Citi last traded price is leveling after falling by 37% to US$1.55ct on such news, not so good news to smaller shares holders, while bigger players move in.... This are SWF's players which can move in n out to newer TP of......whatever their money can take them there. |
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elfinchilde
Elite |
28-Feb-2009 13:29
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http://elfinchilde.blogspot.com/2009/02/there-are-fools-and-then-there-are.html I do not, personally, in any way, see how the conversion into common stock is a good thing. It'd have been infinitely preferable to me for GIC to write off the entire investment as a bad one, and start doing REAL investing. Into our s'pore companies. Instead of being taken for a sucker ride by the Americans, as with Merrill/Temasek in the past. |
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787180
Master |
28-Feb-2009 12:57
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SG govt got dragged in further into bottomless pit..Jim is tight when he remarked thst SG bought into Merryl Lynch,Citibank too early..shd hve waited insetad of being cajoled...imagine in 1995 when I was working in Citibank bank it was trading at US42..now <US2...bad decision to convert preferred stock to common one...only beneficial to Citibank not SG..throwing good $ after bad | ||||
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Andrew
Master |
28-Feb-2009 12:52
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No so fast ...... Is C done with all the writeup ? Not even their government know ....... The preference share beside paying div, it has the highest priority should it go Bye Bye. Now to join the Q like the common stockholder ?? Is it really a good idea ??
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teeth53
Supreme |
28-Feb-2009 11:11
Yells: "don't learn through life, learn to grow with life " |
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Obama's middle class budget for socio-ecnomic experiment is worth watching by Asia... Stating net worth of the top 1% of US households was already bigger than that of the bottom 90%. "We needed policies that will strengthen the middle class...beginning charting a new path..needed a new break to new demand...a new mega trends brought on by globalisation on the back of achilles heel of the economies - weaker domestics consumer demand. It's a legacy of irresponsibility, and it is our (his) duty to change it.
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teeth53
Supreme |
28-Feb-2009 10:30
Yells: "don't learn through life, learn to grow with life " |
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Think like great minded man...great mind from Saudi Arabis's Prince Alwaleed, GIC Tony Tan and greatest of all...from OBAMA and his financial team. teeth53 thot: Great minded think alike..Citi is now on right footing... GIC takes bigger bite from CitiS'pore investment company GIC will convert its preferred shares in Citigroup to common stock. »At what price? http://www.channelnewsasia.com/stories/singaporebusinessnews/view/411996/1/.html GIC converts preferred notes in Citigroup to common shares
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teeth53
Supreme |
28-Feb-2009 10:10
Yells: "don't learn through life, learn to grow with life " |
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New Citigroup targeted prices US$3.25 cents, over longer term US$10.00 to US$20.00 dollars is a real possiblity. With such strong supporters, such move is conditional that other SWF's like GIC, Saudi Arab Prince Alwaleed Talal, Capital Research Global Investors and Capital World Investors does the same, converting their preferred shares. GIC has decided to convert it prefrerred shares to common shares, increasing it stake to 11.1% in it US$6.88 Billion investment in US gaint banking Group, CITI bank alongside US goverment who made it 1st move which decided for US govt to invest US$ 25 billion of it it own preferred shares it own to common shares, raising its stake to as much as 36% for US govt. For GIC to convert its preferred shares at lower pricing, at US$3.25 per share than its original invested price of last Jan , or at US$26.35ct as for last year 2008. (Averaging down it losses from 80% to 24% or US$1.67 billion) that is based on last Thursday's closing price of US$2.49 cents. GIC will however lost it 7% dividend from it preferred shares or US$482 miilion a year. As a norm shareholder, GIC is taking on more market rick with it common shares. However the supported fund alongside US goverment has boosted Citi bank group capacity to weather today severe economic downturn. It will be win-win situation when economic turn to go up and world economy recovers. This news has others Citi sharesholders who now face massive dilution from such action by US goverment and others SWF's investor taking on more common shares. Citigroup shares sliped more than 36% when markets opened yesterday to US1.56 cents GIC thus become 2nd largest investor after US goverrment and teeth53 thot this will not becoming a so call long or very long term, my estimation is between a 5 to 10 years times frame. GIC will be able to see it recovery on Citigroup as a worthy cause. This is the work of US president Obama and his finance team to revise the economy by end of his (Obama) 1st term. |
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