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Non-Tech : Bill Wexler's Trading Cabana

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To: RockyBalboa who wrote (3236)	3/4/2008 4:53:42 PM
From: RockyBalboa	Read Replies (1) of 6370

Model errors, revisited: Citigroup, oh my is this ugly. Should go below 20. Citigroup shares sank about 6 percent to their lowest level in more than nine years, as stockholders recoiled at forecasts of more losses at the troubled bank and comments from a Middle East fund executive that Citi must raise more cash to stay in business. Meanwhile, Goldman Sachs analysts issued a note saying a modeling miscalculation led it to overestimate its profit forecast for Citi. Goldman on Tuesday lowered its prediction of a first-quarter profit at Citi of 15 cents a share to a first-quarter loss of a $1 a share. It also reduced its 2008 full-year profit estimate to $1.35 a share from $2.50 a share.

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