Citigroup Inc (C)

[kid biscuit]

I told many friends to buy leap put options at all time highs a few months back and just sit back and enjoy the show. When I dug into how C is stacked up against the fracking loans which were changed to unsecured debt almost 1 year ago, at 1.5 trillion worth, not to mention the cracks from how that unsecured status effects the leverage factor. One big ouch. This just may make 2008 look like child's play. Those puts are starting to pay out huge with all the negative exposure. I simply could not believe how much spin and doublespeak, and cover up C management has been putting out for the last year, most likely as usual so the cash could be horded before the impending stampede which we now are seeing go toward the exits. Oh so very predictable, and even more than ever so now with Iran getting ready to dump big time. My prediction is C below 20 by end of 2016. :) I could be wrong if china can turn around, but we will see.