Mike Mayo, Wells Fargo Securities head of U.S. large-cap bank research, joins 'Squawk Box' to discuss the latest market trends, why Citi is his top bank stock pick, and more. Fri, Mar 8 20249:12 AM ESTwatch now watch now VIDEO04:58 Fed is 'still in a good position', ...
MIKE MAYO: Okay. If I can shift gears, on Citi Holdings, what were the losses on the asset sales of $4 billion? JOHN GERSPACH: I don't have that number in my head, Mike. I'm sorry. MIKE MAYO: But it was a loss? JOHN GERSPACH: I don't even know. It could have been a ...
MIKE MAYO: Perhaps a more general question, is the Fed denial a wake-up call for Citi or not? And what I think I've heard you say on this call is that several areas are doing better: Markets, Korea, Holdings, et cetera. Your optimized bucket is about done. You're making some of...
MIKE MAYO: So is it fair to say those three targets will ultimately be the proof of the value of the model? JOHN GERSPACH: At least the value of the model up through 2015. MIKE MAYO: Okay. All right. Thanks a lot. OPERATOR: Your next question will come from the line of Matt O'...