Sandy Weill Meets Prince Alwaleed About Citigroup CEO Position

5 Nov 7:01am
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Wow, could Sandy Weill be back at the helm of Citigroup (C)?

It turn out that Alwaleed meet with Weill in October 29th in Saudi Arabia about taking over the CEO role for he company. Alwaleed has lost $4 billion the last few weeks with the Citigroup plunge and told Prince late last week "I can no longer support you as CEO".

Weill flew to Saudi Arabia on the Citigroup corporate jet to meet with Citi's largest invesor.

Citigroup has said that now that the search has opened, Weill will be considered as a replacement.

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ToddSullivan

A Massachusetts based value investor, I look for companies whose current valuation is at a discount to their true value. When I purchase a stock, my typical holding period is several years. I consider buying a stock purchasing a piece of a business. I am confident once I make a decision to buy that eventually the market as a whole will recognize the true value of the business and value it accordingly. It may take 1 month, 6 months or a year, but if I buy it at enough of a discount to its true value my results will be (and have been) superior to the market as a whole. Of all the disparate investing disciplines, value investing has stood the test of time. The great investors of have all been value investors. Warren Buffett, Ben Graham, Bill Ruane (Sequoia Fund), Bill Miller and Wally Weitz, all have consistently outperformed the market for decades by using various forms of value investing. Currently I am a contributing writer to Seeking Alpha, Vinvesting.com, The Stock Masters and Value Investing News. Posts have been reprinted in The Wall St. Journal, Yahoo Finance, Google Alerts, Google Finance, TheStreet.com. 24/7 Wall St. and Topix.net.