Citigroup in SERIOUS Trouble!

[Rogue Trader]

unfortunately I'm quite familiar with their cunning ways though years of professional interaction

third world cheapo mentality meets intellectual arrogance

dont know anything worse than that!

 

[Rogue Trader]

For whatever reason people do not blame indians as much as the chinese. If it were run by a group of Chinamen racist remarks would be made towards all chinese. Anyway i know quite a number of chinaman and women aren't very trustworthy or likeable at all.

chinamen aren't the best of breed but at least we dont pretend to be so

 

[troubledtimes]

But chinamen are not like Indians who will scream persecution at the slightest excuse. Nobody makes racist remarks cos they are too polite towards them (indians), not because ppl like them! Maybe chinamen should start having a persecution complex, then again, maybe not.

 

[madmansg]

Not racist here so must say indians are good with words. So you find them good lawyers.

but indians are percularly not suitable for banking.

1) indians are not good in maths unlike the jews and chinese.
2) indians are not team players. Think chinese are good with building gaun xi. Thus lots of banking empires in asia with chinese at the head.

 

[Jah_rastafar_I]

But chinamen are not like Indians who will scream persecution at the slightest excuse. Nobody makes racist remarks cos they are too polite towards them (indians), not because ppl like them! Maybe chinamen should start having a persecution complex, then again, maybe not.

WHy are ppl too polite towards an indian??????/ What exactly makes someone be too polite towards a damn indian?


Sometimes i feel that chinamen should do that. Then ppl would start to respect them more. Indians accomplish so little and yet get more praises and respect, seems to be the opposite for chinese.

 

[Jah_rastafar_I]

chinamen aren't the best of breed but at least we dont pretend to be so

Yeah not the best, unlike some others whom are worse but think they are the best.

 

[DerekLeung]

When one management red Indian comes ! Follow by 10 little red Indian !

 

[nightmare]

I did an analysis of a Ho Jinx purchase and one of Warren Buffett's long time holdings in another thread. Let me copy it here :

Let us compare one financial stock owned by Buffett (WFC) and another purchased by Temasek (MerrillLynch, MER).

Some background info on Wells Fargo &Co (NYSE: WFC) :

http://en.wikipedia.org/wiki/Wells_Fargo

Wells Fargo & Co. (NYSE: WFC) is a diversified financial services company in the United States with operations around the world. Wells Fargo is the 5th largest bank in the US by assets and the 9th largest bank in the world by market cap.[citation needed] It is the only bank in the United States to be rated AAA by S&P.[2]

Now for Merrill Lynch :

http://en.wikipedia.org/wiki/Merrill_Lynch

Merrill Lynch & Co., Inc. (NYSE: MER TYO: 8675) is a global financial services firm. Through its subsidiaries and affiliates, the company provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related financial services worldwide. Merrill Lynch is headquartered in New York City, and occupies the entire 34 stories of the Four World Financial Center building in Manhattan.


Now, let's analyze these two purchases. Ho Ching bought MER at $48 a share. It closed at $27.52 today. For the last 2 quarters MER has bled BILLIONS of dollars.

Warren Buffett purchased WFC stock in 1990 during the credit crisis. A look at Berkshire Hathaway's annual report http://www.berkshirehathaway.com/2007ar/2007ar.pdf (pg 16), shows that his stake is worth $9.16 billion with a cost basis of $6.67 billion.

In fact WFC is one of the few banks to remain profitable in this current climate, and they were the ones that sparked the DOW rally in mid-July. They also INCREASED their dividend payout to shareholders.

http://www.marketwatch.com/news/stor...D&siteid=yhoof

Now let's take a look at Warren Buffett's salary :US$100,000 per annum. A low figure for a CEO even by Singapore standards. Most of his wealth comes from stock capital gains and dividends.

http://en.wikipedia.org/wiki/Warren_Buffett

Anyone can enlighten me on Ho Ching's salary, or even the management in Temasek? I bet my last penny that they draw salaries well in excess of US$100,000 a year.

Let's assume a conservative figure of US$600,000 (SGD$1,000,000). So Ho Ching is worth 6 Warren Buffett's. Outstanding!!

Ho Ching and her entire management team should be shown the door IMMEDIATELY and we should offer her job to Buffett.

 

[nightmare]

The old fart and his fund managers have as much investment acumen as Ho Jinx. I can name you at least three companies that have much better prospects than Citi, and in much better financial health : Visa, Mastercard, and Wells Fargo. You could have bought Wells Fargo in mid-July when oil was $147 a barrel, and made a 50% return based on the closing price today.