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Banking industry isn't going anywhere - business model is incredible

The banking industry, for at least the past 15 years, has been one of the most profitable and stable industries. So even if Citi is down right now, it will come up again. Consider the basics of banking, you give a company some money, they lend it out to people for anywhere between 5% - 20% and pay you roughly 0.5% on your common checking account. Then, every time you want access to your money, you have to pay a fine, and every month for the privilege of lending your money to them, they charge you a monthly fee. It’s a thing of beauty isn’t it? To any business man or investor, it is.

As of March 3rd, Citigroup’s price is $23.11/share. With total assets totaling over $113B, this puts Citigroup’s book value at $21.80 / share. In the past 10 years, Citigroup’s share price has never come this close to it’s book value. Not to mention when you are paid a cool 5.5% in dividends while you wait out the storm. This would be a great time to take a long term approach on this stock.