Dick Bove vs. CLSA's Mike Mayo on Citigroup Cooking the Books (DTAs)
8/27/2010 02:37:00 PM | via @Dvolatility |
Charlie Gasparino broke news on Fox Business that Citigroup (C) might be cooking their books. Read and watch it here: Analyst: Citigroup Is Cooking the Books. CLSA analyst Mike Mayo said Citi needed to take a $50 billion writedown on "deferred tax assets" and the result would be a $10 billion loss. Ha, Dick Bove said Citigroup is not cooking the books: Dick Bové: FYI, Citi Is Not “Cooking The Books” (Dealbreaker). In July, Bove said Citigroup was headed toward $8.50. I embedded the Fox Biz video. I'd like to see what the accounting blogs say. The chart says Citigroup either triples or goes to zero from here (chart).
Posted by D Volatility