Karen Finerman

Yeah. But he's extraordinarily good at his business. But normally when you see... Turmoil in the financial markets, banks, because they are levered, don't generally trade well. So Citibank didn't trade well. I mean, JP Morgan said it was a 280, went to 210. That's an enormous move. Goldman Sachs. Goldman Sachs. I mean, all of them. So they all kind of moved together.

Yeah. But he's extraordinarily good at his business. But normally when you see... Turmoil in the financial markets, banks, because they are levered, don't generally trade well. So Citibank didn't trade well. I mean, JP Morgan said it was a 280, went to 210. That's an enormous move. Goldman Sachs. Goldman Sachs. I mean, all of them. So they all kind of moved together.

There wasn't really a huge standout of one that... Morgan Stanley is a little bit of a different business model. They were down 30% too. So they all kind of got hit. Citi, I think Citi is a really interesting situation because It's super cheap. And you're in the hopefully near the last third or so of a multi-year effort by Jane Fraser. And I love that a woman is the CEO there. I love that.

There wasn't really a huge standout of one that... Morgan Stanley is a little bit of a different business model. They were down 30% too. So they all kind of got hit. Citi, I think Citi is a really interesting situation because It's super cheap. And you're in the hopefully near the last third or so of a multi-year effort by Jane Fraser. And I love that a woman is the CEO there. I love that.

There wasn't really a huge standout of one that... Morgan Stanley is a little bit of a different business model. They were down 30% too. So they all kind of got hit. Citi, I think Citi is a really interesting situation because It's super cheap. And you're in the hopefully near the last third or so of a multi-year effort by Jane Fraser. And I love that a woman is the CEO there. I love that.

And she has really remade that bank, clarified the lines of business and really gone after expenses. So some of the city's earnings and improvement is in her control and she's doing it. And that's been a really good thing to see. Just on this last earnings call, we started to really see it. And she feels it'll continue to happen in 2025 and 2026. So I love that earnings call.

And she has really remade that bank, clarified the lines of business and really gone after expenses. So some of the city's earnings and improvement is in her control and she's doing it. And that's been a really good thing to see. Just on this last earnings call, we started to really see it. And she feels it'll continue to happen in 2025 and 2026. So I love that earnings call.

And she has really remade that bank, clarified the lines of business and really gone after expenses. So some of the city's earnings and improvement is in her control and she's doing it. And that's been a really good thing to see. Just on this last earnings call, we started to really see it. And she feels it'll continue to happen in 2025 and 2026. So I love that earnings call.

And all of them also say, though, we don't know what the economy is going to bring. We don't know how people's You know, are we going to have more credit issues? Likely, right? Credit card non-performing, you know, people who are unable to pay back their credit card, that ratio will go up and that's going to cost the banks money. But they're not seeing it yet. I believe they will.

And all of them also say, though, we don't know what the economy is going to bring. We don't know how people's You know, are we going to have more credit issues? Likely, right? Credit card non-performing, you know, people who are unable to pay back their credit card, that ratio will go up and that's going to cost the banks money. But they're not seeing it yet. I believe they will.

And all of them also say, though, we don't know what the economy is going to bring. We don't know how people's You know, are we going to have more credit issues? Likely, right? Credit card non-performing, you know, people who are unable to pay back their credit card, that ratio will go up and that's going to cost the banks money. But they're not seeing it yet. I believe they will.

They believe they will. Delinquencies, yeah. Yes, delinquencies. But Citigroup has this other thing, which is within their own control, which is what I like a lot about it. And J.P. Morgan has the most extraordinary leadership. But, you know, Jamie B. Dinah will leave one day.

They believe they will. Delinquencies, yeah. Yes, delinquencies. But Citigroup has this other thing, which is within their own control, which is what I like a lot about it. And J.P. Morgan has the most extraordinary leadership. But, you know, Jamie B. Dinah will leave one day.

They believe they will. Delinquencies, yeah. Yes, delinquencies. But Citigroup has this other thing, which is within their own control, which is what I like a lot about it. And J.P. Morgan has the most extraordinary leadership. But, you know, Jamie B. Dinah will leave one day.

Yes. But I don't think that'll happen. So these big banks and I forget who are I think there's eight of them. There's a JP Morgan, the Citibank, Wells Fargo, names like that. The government will not let them fail. They are called SIFI banks, strategically important financial institutions, which basically means we cannot let them fail. Otherwise, the apocalypse is the financial apocalypse is here.

Yes. But I don't think that'll happen. So these big banks and I forget who are I think there's eight of them. There's a JP Morgan, the Citibank, Wells Fargo, names like that. The government will not let them fail. They are called SIFI banks, strategically important financial institutions, which basically means we cannot let them fail. Otherwise, the apocalypse is the financial apocalypse is here.

Yes. But I don't think that'll happen. So these big banks and I forget who are I think there's eight of them. There's a JP Morgan, the Citibank, Wells Fargo, names like that. The government will not let them fail. They are called SIFI banks, strategically important financial institutions, which basically means we cannot let them fail. Otherwise, the apocalypse is the financial apocalypse is here.

So as a result of getting that sort of protection that they also have a lot of this regulation that we talked about. But I really do believe the regulation has gone too far and they're way, way, way less levered than they were going into the financial crisis. The business, as I said, the guardrails are there and they're working. Yeah, we need a Goldilocks situation. Right, exactly.

So as a result of getting that sort of protection that they also have a lot of this regulation that we talked about. But I really do believe the regulation has gone too far and they're way, way, way less levered than they were going into the financial crisis. The business, as I said, the guardrails are there and they're working. Yeah, we need a Goldilocks situation. Right, exactly.

So as a result of getting that sort of protection that they also have a lot of this regulation that we talked about. But I really do believe the regulation has gone too far and they're way, way, way less levered than they were going into the financial crisis. The business, as I said, the guardrails are there and they're working. Yeah, we need a Goldilocks situation. Right, exactly.