When does 50% off constitute a real bargain basement opportunity?
Take Citigroup, for example:
10/2/08: 22.50
11/11/08: 10.80 (OK....50% off, let's buy!)
1/13/09: 5.90 (50%...AGAIN!)
2/23/09: 2.14 (50%+)
3/5/09: $1.00 (oops)
So, my $10,800. investment is now worth $1000. What a great system.
I was an investment banker & equities manager throughout the 80s (including Black Monday in '87) and we ain't seen nuttin' like this and neither has Graham.
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