Robert Rubin's Not Worth Two Bucks to Citigroup

Cramer's not buying the stock up on the reports that Rubin is taking a senior post.
Author:
Publish date:

Nobody loves

Bob Rubin

more than I do, with the possible exception of his family. But this morning when I heard the rumor that he was going to

Citigroup

(C) - Get Report

, with the stock at 49, I took a pass. Right now I look wrong. The announcement that Rubin will take a senior post at Citi nudged the stock up another dollar.

Cramer's Latest: Join the discussion on

TSC

Message Boards.

Citi is a huge, well-run company. If Rubin were to go to some firm that was having trouble, I would be buying it up five.

But

Sandy Weill

is probably the only guy who may be better at running a bank than Rubin. These guys don't even need him.

Maybe that's my jealousy for not having done the trade. But give me a break. Citigroup has two of my favorite survivors at the helm, Weill and

John Reed

.

Now they have three.

That's not worth two bucks.

James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund had no positions in any stocks mentioned. His fund often buys and sells securities that are the subject of his columns, both before and after the columns are published, and the positions that his fund takes may change at any time. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Cramer's writings provide insights into the dynamics of money management and are not a solicitation for transactions. While he cannot provide investment advice or recommendations, he invites you to comment on his column at

jjcletters@thestreet.com.