Aug 27, 2008

Bill Miller plugs Citigroup stock (2005)

Citigroup chief financial officer Sallie Krawchek said recently on CNBC that it was "credit nirvana," the best environment they had seen in almost 15 years, and Citigroup raised its dividend another 10%.

Who would park their money in cash at 2% and pay taxes when they could get 3.7% in tax-advantaged dividends in Citigroup stock and own a piece of the world's largest financial-services firm, one that is perfectly well-positioned to be the banker to the developing world's burgeoning consumers?

~ Bill Miller, portfolio manager, Legg Mason Value Trust, "Good Times Are Coming!," Time, March 8, 2005

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