Can Citigroup Move Past Emerging Market Headwinds?

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Feb. 20 (Bloomberg) –- CLSA Bank Analyst and Managing Director Mike Mayo discusses why he thinks Citi’s emerging markets exposure could be a good thing in the end. He speaks to Trish Regan and Matt Miller on Bloomberg Television’s “Street Smart.” (Source: Bloomberg)

Banks could suffer.

One of citigroup of his biggest headwinds -- a composure, and you think citigroup's emerging-market exposure could be its savior in the end.

Right now, it is guilty until proven innocent.

It is exposed to emerging markets and emerging markets are down.

Consider the perspective.

Last decade, what to be emerging markets stocks do?

They doubled.

Another point about emerging markets, they are not all created equal.

The cell was close to $500. when did you put that on?

2007. did you try to scale back those emerging markets?

Have a try to get out or exit?

Great timing, reduce some of their exposure to turkey and brazil.

Relative hotspots today.

If mexico, hong kong, singapore, korea.

They characterize hong kong and singapore as emerging markets.

Give me a break.

The u.s. is based in hong kong.

Do not tell people there it is based in emerging markets.

That is a bad legacy of a prior ceo trying to call out more emerging markets than it really is.

You like emerging-market exposure, what about their valuation?

You look at five prior crises.

Citigroup today versus their prior crises, had twice as much capital and one third the valuation it had.

The other point, city is going to higher quality customers now.

It could be their final hour.

-- finest hour.

We are coming up against a heartbreak.

Thank you for being here.

This text has been automatically generated. It may not be 100% accurate.

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