This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Invest Like a Quant: 5 New Trades From Renaissance Technologies

Citigroup

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

Big bank Citigroup (C) is another name that Renaissance newly initiated in the most recent quarter. Simons and company added 3.7 million shares of Citi to thier portfolio, building a position worth $177 million. Citi is one of the biggest banks in the world, with 1.9 trillion in assets and more than a quarter of a million employees. And it's one of the biggest beneficiaries from the equity rally that's propelled the S&P 500 more than 16% higher this year.

>>5 Stocks Poised for Breakouts

Like its peers, Citi has made a big about-face in recent years, changing its focus back to conventional banking. As a result, Citi's shareholders are seeing profitability again. Scale matters in the banking business -- that's why Citigroup's $1.87 trillion in assets are worth paying attention to. Despite its size, hefty exposure to emerging markets means that the firm has the ability to tap undersaturated loan markets with burgeoning middle class populations. While those growth opportunities don't come without risks, the relatively vanilla nature of the rest of the financial sector makes it look a whole lot more attractive.

But that doesn't mean that Citi's shares are attractive. Granted, they're not toxic, but then again, an abundance of regulatory restrictions and the possibility for more skeletons in Citi's closet makes it look less appealing. If you're looking for exposure to banking stocks, think regional names instead.

3 of 6

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,493.37 -69.93 -0.42%
S&P 500 1,925.15 -5.52 -0.29%
NASDAQ 4,352.6390 -17.1340 -0.39%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs