Friday, May 09, 2008

Quick Update

Grabbed a piece of Citigroup (C) at 23.69 today. While I might want to hold this longer-term, there's still a fair bit of uncertainty so I'll keep it off of my long-term portfolio list for the time being. I could easily be wrong about this company and be viewing the current situation incorrectly, but I believe that the measures that the company is taking to reduce its exposure to potentially value-destroying assets, businesses, accounts, etc. are a good thing. Maybe I am putting too much trust into Vikram and his words.

On a related note, I've been accumulating (perhaps too early) shares of the Financial Sector SPDR (XLF) in the retirement account this year, and I'd say that I'm about halfway done with that. Even if I'm early, I think that with a long enough time horizon, today's prices can't be so bad as to produce a horrible return. I guess we'll have to wait and see.

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