Photo by Sean Doyle
"Activist" investor Bill Ackman apparently believes there is some value in Zombie Citigroup. According to the New York Times, Ackman's Pershing Square Capital Management purchased 150 million shares in the embattled bank. Ackman didn't go into details as to his thinking in the purchase. However, Ackman joins fellow investing titan Bruce Berkowitz in taking a large, high profile stake in Pandit's Playhouse (C). (B.B. recently purchased $ 700 million in stock in the Zombie)
Chart Courtesy of Fortune Magazine.
It's been a rough couple of years for Citi and (especially) their shareholders. However, maybe their is light at the end of this dark, dark, dark, dark, tunnel.
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