Tuesday, July 15, 2008

A Disillusioned Investor`

I am investor in Citibank shares. Today it reached a price which was almost what it was when it started in 1998 a price of $14.50 and change. I am ashamed to say that I still hold the share which I purchased at $40.

I am amazed at how companies as big as Citibank can fail big-time. Agreed the share markets are over-reacting but Citibank did made blunders along the way. Not sure what a CEO really contributes in companies like this other then doing a PR job of giving rosy predictions to analyst and looking forward to the next quarter. Same is the case with Wachovia.

I think these companies have reached such a level that even the top management has no clue what is happening at the groud level. Maybe it is time for Citibank to be split into different companies so they can be managed which definitely is not happening.