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U.S. financial markets opened today to the news that Citigroup lost a bunch of money in Q4'07. A few highlights:
Intel also published earnings for Q4'07 today. Giant pile of money:
So what does our stock do? … it fell 1.7% during the session, and after our earnings announcement it fell 14% after hours.
Awesome. My stock options have lost 96% of their value in the past two weeks.
Interesting how Citigroup's nigh-apocalyptic earnings report is met with a big decline, yet Intel's hugely profitable earnings report nets a decline twice as large. Investors are fickle. :)
I'm enormously happy about the horrible year the stock market has been having so far (e.g. Dow down ~6% YTD) because I fund all my tax-advantaged accounts during the first quarter. I'll be buying more cheaply.
But now I wish I hadn't also invested a bunch in mid-December! At least I invested safely… only one very small position of what I bought (~$500) has underperformed the Dow since then.
For comparison, gold is up ~6.5% YTD, and silver is up ~8%.