Citibank…Those Sheik Dudes can Pick 'Em!

Posted by Howard
on January 14th, 2008

‘Let’s invest all that oil money in a $24 billion writedown’. It’s genius.

Obviously, the sheiks and Chinese that invested their money were a little high on all the gas fumes and pollution. Pitiful.

Part of what I do as a hedge fund manager and investor is underwrite stocks and ideas hoping to sell higher. No doubt I have made a few clunkers, but the sheer volume and total losses, not just buying a stock at $10 and selling it at $8, are unfathomable.

I try and avoid piling in a few days before the doors close and my CEO announces writedowns. Just a little investment rule I follow. Nothing serious :) .

Really good underwriting. i would like to look back at all the 312 page analyst reports on the great underwrting that happened on these deals.

Putrid. Those same assholes you watch everyday on CNBC talking their positions.

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