Illusions and Delusions

But the bank’s shares slid as much as 7.8 percent on Friday as
investors fretted about its exposure to emerging markets, including
Latin America and Asia, and puzzled about how to separate its core
performance given an array of unusual gains and expenses.

“It is almost impossible to specify what the ‘true’ operating results
were,” Oppenheimer analyst Chris Kotowski, who rates the stock
“outperform,” said in an initial note to clients. [Link]

This was about the results from Citigroup. Well, the more things change, the more they ……


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