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  • Large Banks' Net Income History
    dick,

    Sorry. Can't give individual or position specific advice through this medium.

    There is not sufficient information in this article to determine what you should do with the stocks or their options.

    You or your advisor must dig into the data for CITI and the industry to make an informed guess about the future of CITI stock.

    As you know the market is quite fickle recently, but then with Leaps, you have the luxury of taking a longer view.

    It may be easier to prognosticate about a security representing basket of banks that about a specific bank, but even there the surprises keep coming.

    I have written several other articles about the banks that are published at Seeking Alpha and on my blog. Collectively they should be of more use to you than this article alone.

    Your broker most likely has reports from S&P or other major research sources which you should read as well. Then read all you can about the sector and CITI at Bloomberg, Wall Street Journal, Reuters and elsewhere.

    You may have a long-term winner or a loser, but if you are a winner, you may experience periods of great pain on the way to victory. You need a well reasoned logic for being in a position when it goes against you in order to stay in.
    Aug 01 17:37 pm |Rating: 0 0 |Link to Comment |View article
  • Large Banks' Net Income History
    mikeg3 and Just Some Guy:

    Based on your questions, I have added the following to the end of the post on our site:

    Post Script:

    We received a request to clarify the meaning of FY1, FY2 and FY3; and a suggestion that if it may refer to history and could alternatively be labeled 2007, 2006 and 2005.

    FY 1 is the first prior fiscal year.
    FY 2 is the second prior fiscal year.
    FY 3 is the third prior fiscal year.

    It would be inappropriate to use 2007, 2006 and 2005, because that would tend to suggest a calendar year basis for the data versus a fiscal year basis. Additionally, different companies have different fiscal years.

    For example, if one company has a fiscal year ending December 31 and other has a fiscal year ending June 30, then as of July 2008, the first company is in fiscal 2008 and the second company is in fiscal 2009.

    Note that for GAAP purposes the "year" number (e.g. 2007 versus 2006) is based on the date on which the fiscal year ends, whereas for tax purposes the year number is based on the date on which the year begins.

    For these reasons first, second and third prior fiscal years as FY1, FY2 and FY3 is more accurate, and is the convention for stock data reporting.
    Aug 01 10:53 am |Rating: 0 0 |Link to Comment |View article
  • Large Banks' Net Income History
    FY 1 is the first prior fiscal year. FY 2 is the second prior fiscal year. FY 3 is the third prior fiscal year.
    Aug 01 10:22 am |Rating: 0 0 |Link to Comment |View article

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