sovereign wealth funds. Adia, Abu Dhabi Investment Authority, Temasek, and Singapore, Kuwait Investment Authority, Prince Al-Wid, all the big money in the world. And says, you got to, the US banking system's on sale. And you got to bail it out and you can get some great bargains here. So remember Abu Dhabi bought just under 10% of Citigroup and they did it with an option structure. And they announced it was $35 a share. Citigroup had been 50 by the way, close to 50. They said it was $35 a share, but they had a bunch of bells and whistles and high dividends and options in there. If you adjust it for all that, it was closer to $24 a share. They're still overpaying for it. Well, we went to two. Eight months later, it was $2 a share. But my point is by December, we were feeling good. It was like, hey, crisis is over. Sovereign wealth funds bailed out the banks. They look like Warren Buffett buying Solomon Brothers in 1991. And it was all good. What wasn't all good. It was exactly like that (37/98)
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