Charlie Gasparino thinks the former Citicorp chairman Sandy Weill might have sold most, if not all, his Citi stock long before things really got ugly for Citi.
If he did, it has to go down as one of the savviest trades ever made on Wall Street.
Further, as Gasparino notes, "Weill was known...[for] his aversion to taking unnecessary risks...after purchasing Salomon Brothers, Weill immediately disbanded its arbitrage desk, which took big bets in the bond markets."
It would be fascinating to watch Weill, if he was still in charge at Citi, during this overall downturn. Would Weill be shrewd enough to steer Citi through the storm? If anybody could do it, Weill would probably be the one.
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