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DREAMING OF SUCCESS - SOME DREAMS

In this section you can read about some of the dreams we have had in the past, and a review of their outcomes. The more recent dreams are provided along with the current edition (maybe after reading this section, you will be inspired to join us).

- Links to more dreams: 1  2  3  4  5  6  7  8  9 

9.   Dream: MRS. II's CITI SLICKER - 8th/9th July 2008:

A group of bankers emerge from a meeting. One of them reveals that they were discussing the next serious problem to arise in the US banking industry. He mentions that Citigroup, the holding company owning Citibank, will be facing further severe problems as a result of non-performing assets. These will be connected to the housing sector; the assets involved are not only securitised mortgages but also non-performing mortgages (those which were no longer being repaid) which had been granted by Citibank itself. He adds that there will be further problems - not exclusively related to Citibank - but that he was not allowed to disclose more detail in this regard.

Interpretation (as in the newsletter at the time of the dream): Since this dream occurred, Citigroup came out with its Q2 figures, which included a USD 7.2bn write-down. As we pointed out in the e-mail alert last week, the dream may not be about Citi, but it would not surprise us if it were. We think this was not about the Q2 results of this past week, but about potentially greater problems facing Citi or a competitor bank in the months to come.

Enactment to date:

The dream has proved to be completely accurate. Citi's share price fall has been amazing, and it only ceased once the US Treasury revealed the bank was 'too big to fail', and that it would receive support.

As the dream foretold it, since then, many other banks and financial institutions have revealed their problems. Just to mention some: Fannie Mae, Freddie Mac, Bank of America.

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Last Updated: January 18th, 2009 - Copyright © 2002-2010