- AIG, Ex-CEO Greenberg Reach Pact to Settle Disputes
- Bank of America CEO Search May Extend Into 2010
- 'Cancer of Fraud' Permeates Health Care System: Critics
- US Mint to Suspend American Eagle Gold 1-Ounce Coins
- Judge Erases Couple's $525,000 Mortgage Payment
- For Many in US, It Will Be a Scaled-Down Holiday Season
- Where Do Pardoned Turkeys Go?
- Jobless Claims Below 500,000, Durable Orders Slip
- Activision Prepares to Double Dip on ‘Modern Warfare 2’
- There's a 'Great Chance' For a Double-Dip Recession: Strategist
- Revenge of the Gangsta Nerds
- Will TCU See The "Flutie Effect?"
- Retail Earnings and Sales to Improve in Q4: Analyst
- Consumers Catching the Holiday Spirit
- It's Beginning To Look A Lot More Riskless
- Crescenzi: Claims Level Suggests End to Job Losses
- Hedge Funds Take Early Lead in Warren Buffett's 'Big Bet'
- S&P Stocks Trading at New 52-Week Highs
MOST SHARED
- Garlic Price Rises Surpass Gold, Stocks in China
- Ritz-Carlton ?Struggling? in the US: President
- New-Home Sales Jump 6.2% To Highest Level in Over Year
- S&P Stocks Trading at New 52-Week Highs
- The Executive Job Search
- Judge Erases Couple's $525,000 Mortgage Payment
- US Plans to Reduce Emissions By 17% Within Next Ten Years
- Activision Prepares to Double Dip on ‘Modern Warfare 2’
- Half of Banks' Losses May Still Be Hidden: IMF Head
- Where Do Pardoned Turkeys Go?
Text Size 
Citigroup could see its shares rally by 100 percent or sink to nothing, investor Marc Faber told CNBC Friday.
"We've gone down from over $55 to $4 (a share), you could easily see a bounce of 100 percent before the stock goes to zero," Faber said.
"The rebound potential is very considerable," he added.
Citi [C
Loading...
()
] shares closed at $4.71 on Thursday, having slumped over 26 percent during the session. The bank also lost 23 percent in Wednesday's session.
Financial stocks lack transparency, making it difficult to predict the share price of a company like Citi, Faber said.
"I don't think financial stocks will be the leaders of the next bull market … the earnings power of financials companies will not come back for many many years," he said.
(Watch the full interview with Marc Faber above).
Faber likes gold as an investment because "it's a cash that is not the liability of someone else."
But the precious metal has performed relatively well during the bear market, which means it could be sold when stocks rebound, Faber warned.
Corporate bonds are also an "interesting opportunity, yielding high returns," Faber said.
"And I suppose that not every company around the word will go bankrupt," he added.
Print
Email
- For nearly three decades, these on-call experts have been dishing advice on how to – and not to – cook turkey.
- Eric Schmidt pledges to create a virtual copy of the Iraq National Museum at Google’s expense.
- Bill Griffeth is taking a leave of absence from CNBC and Power Lunch for a year. Here's a message from Bill.
- More shoppers than ever plan to comparison-shop this season. Who will benefit?
- It may be the most unusual guide to business you'll read.
- How can you get out of debt and back on the road to recovery? Follow these ten steps.
Data is a real-time snapshot *Data is delayed at least 15 minutes