20 April 2009

Perspective, etc.

A few days ago, both Citigroup and Google announced their earnings. Citigroup, trading around $4/share at the time, reported a net loss of 18 cents/share. Google, on the other hand, announced earnings of $5.16/share, while trading at around $400/share.

Can you imagine what would happen if Google lost $18/share? That's the same proportionality to Citigroup. Point is, I'm still surprised that there are people who believe Citigroup is a good investment...

On an unrelated note, a funny story from the floor today. One of the traders, T., was feeling somewhat ill, and left early to go rest. O., another trader who works with the guy who went home had stepped away from the desk, and upon his return asked where T. had gone. When I told him that he had left because he was feeling sick, O. deadpanned, "I just accidentally drank his Sprite."