Market today is as usual, massive Bloodbath all over. S-Stock suffer the most with my all time Fav. Cosco Corp breaking the $5 dollar support. Guess it might be worth less than $4.50 before this week is over.
My analysis.
Look for defensive stock that give good dividend over the years and also have Put warrants out in the market. Long the underlying while buying the put to hedge. In the long run stock will recover(1-2 years time if recession don't hit hard and furious), while in the short term Put warrant will give you a nice pocket money.
Analyst has forecast a 1.00 per share of losses for Citi, but alas Citi(sh*ty) as it is needs to outshine any analyst!It made a stunning losses of about 1.98 per share. GIC our national pride has injected another US 6.88Billion into Citi Bank to be it's white knight. I wonder where did GIC get that much money. A friend joke to say that why recently, we have more ERP gantry points to squeeze more funds to buy US bank stake.
Well is it a stupid move I'm not too sure. The US 6.88 Billion is for a promise 7% interest convertible bond with an option to convert to share later. That means we will get 7% yearly which is high i think and if Shi*t survived the ordeal and it shares recover GIC might make a good profit. But hey that might take like another 2 years before we see that. In the meantime let's hope the Ex-world largest bank don't go bankrupt on us!
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