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Citigroup stock is a great value, says Gabelli's Ian Lapey
  + stars: | 2023-10-09 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCitigroup stock is a great value, says Gabelli's Ian LapeyIan Lapey, portfolio manager of the Gabelli Global Financial Services Fund, joins "Power Lunch' to discuss portfolio positioning in the financials sector and the top stocks to watch.
Persons: Ian Lapey Ian Lapey Organizations: Citigroup, Global Financial Services Fund
There may be some pain ahead for mutual fund investors in the form of capital gains taxes. "That means funds that have suffered steep falls this year could still distribute capital gains to investors," Welch said. John Hancock will pay double-digit capital gains distributions on several of its funds. Almost a dozen Nuveen funds will make 5% to 10% capital gains distributions, while twice that number of T. Rowe price funds will pay out between 4% and 21%. Passively managed funds may have distributions but they tend to be smaller than actively managed funds, Benz pointed out.
A clock is seen near the logo of Swiss bank Credit Suisse at the Paradeplatz square in Zurich, Switzerland October 5, 2022. Credit Suisse is also considering spinning off part of its advisory and investment banking business, which could bring in outside investors and be named First Boston, Bloomberg has reported. If such deals do not materialize or fall short of expectations, Credit Suisse will go for a capital increase, said that person. "I am more worried that Credit Suisse will be bought at a bargain price by an American bank," he said. Ray Soudah, Chairman of Swiss mergers and acquisitions specialist Millenium Associates, said disposals risked making Credit Suisse "an even greater target".
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