Jim Chanos weighs in on the passing of Tiger Management's Julian Robertson

Wall Street Not Worried About Citi - shares edge up

At a Barclays' investor conference,Citigroup's Chief Financial Officer,John Gerspach,said that Citi's Q3 revenue would probably fall by 15% on the year.Barclays' own analyst,Jason Goldberg,had forecast a 12% drop in Citi revenue,so Mr.Gerspach wasn't saying anything the Street didn't already know.The decline is related to lower market volatility,meaning people are trading less often,being more confident in their positions as US presidential election and Brexit fears have abated.*
Mr.Gerspach also expressed optimism about Citi's investment banking business.As well,he is pleased that regulatory reform is on the table in Washington,although the talks are going more slowly than he would like,with several finance-related government posts being vacant.*
Citigroup shares were up 1.54 on the day as of press time,or 2.33%,to 67.71,with the yield at 1.89%.*
Citigroup,Inc (C)

Investing Today:Meandering Through Malaise

We're in a malaise right now,said Tobias Levkovich,Chief  U.S. Equity Strategist at Citigroup.I think that turns in the next 12-18 months.The children of the baby boomers start to save for retirement next year.It's bigger.People are using the U.S. equity market as a safe haven.
The mood on Wall Street is pretty miserable.There's worry about layoffs and compensation.Is this the place for their future?
You've got to do more and more stocks.I think good times will be here 5-10 years out.Telecom has good dividend yields and supplies much-needed mobile services.It will get its pricing power back,Mr.Levkovich predicted.
Christian Thwaites of Sentinel Investments,who was a Baker Scholar at Harvard Business School,likes Toronto Dominion Bank.It's fantastically strong,with a strong deposit franchise in the Northeast and nothing to do with Europe,Mr.Thwaites observed.
Toronto Dominion Bank(TD),iShares Dow Jones U.S. Telecommunications Sector Index Fund(IYZ),iShares S&P Global Telecommunications Sector Index Fund(IXP)

The Bitter Critics

In contrast to his G-8 peers,Mr.Geithner has been subjected to bitter criticism by commentators at home.Among remarks made about Mr.Geithner were that he isn't worthy of respect and that he was hiding out in Rome.The critics are dissatisfied with his deliberate,consultative style.Several of them have expressed anti-European sentiments in the past,while Mr.Geithner is intent on fostering international cooperation.His few weeks in office have disappointed a Wall Street crazed by the disastrous results of its own misbehavior and ignorance.As well,Mr.Geithner takes an intellectual approach to the crisis that is culturally at odds with the vociferous impatience of day traders and television personalities.What's important now is you have around the world a much greater sense of urgency and commitment,Mr.Geithner said in Rome.We all recognize that the power of what we do individually will be much more effective if we move together,the new Treasury Secretary related.