Worswick, on CCI I do not share Murphy's negative view: they have 23% of assets in Asia (didn't check it), so they have 77% pct elsewhere, more or less less exposed right now.
When I was with my former employer, a merchant bank that dealt almost only internationally, we had many deals with Citibank. I was always impressed with their people and their operations. May not mean a lot, because it was only a small segment out of CCIs vast empire, but we dealt with others, too, with whom I was a lot less impressed (BTW, ING is another first-class outfit).
Yes, I can see Murphy's reasoning. But I would not dare to sell CCI short or consider it the best available short. Ex-Asia they are going strongly. But it's certainly not a bad idea to wait and see what the true effect of Asian woes on CCI is/will be over the next 6 mos or so. Sure no need to rush out and buy CCI at $125.
of course only my 2c, Thomas |
