Does Jason Jovine still believe that Citicorp is a good long-term buy?
On January 8, 2008 in a Tycoon Report article entitled "Money strategy now for busy people…" Jason Jovine stated that his target price for C by the end of the year was $40. (C was trading at around $28 at the time.) Since then the company has raised approximately $40 billion via issuing new shares, diluting existing stockholders' equity. What is Jason's current long-term projection?
Answers
4075 points
EthanR answered one year ago …
You would be better off to send this question to Jason directly, at the Tycoon Report. There is a link to contact him there.
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411 points
jester112358 answered one year ago …
At the time I believed that C would be a $15 stock by January or sooner and accordingly bought puts for Jan (the opposite of his recommendation). Its a total fantasy that C could dilute shares, cut its dividend and be worth more in the future. Seems to be there was some attempt a stock pumping going on to cover up bad stock selection. But we never seem to hear about all the incorrect recommendations from newsletters, but the incredible winners-mostly based upon "back-testing". Never buy a newsletter unless full disclosures of all past opened and closed positions are provided.
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