Vikram Pandit is out with a memo to employees saying the firm experienced it’s best quarter since 2007. He continues by saying the firm’s capital is “strong”. The stock is up 19% in the pre-market with financials getting a 6% lift across the board. Conflicting reports, however, say the government is planning their next move with Citi just weeks after it’s most recent capital infusion. I guess any news is good news when you’ve got one foot in the grave….
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.