Bank of America Corp (BAC): When Is It Time to Buy Citigroup Inc (C)?

My first reaction was, how terribly boring. But my next reaction was, how terribly responsible, thoughtful, and bankerly. As fun as it is listening to and reading about the swashbuckling CEO of JPMorgan, Jamie Dimon, that type of banker is precisely what Citigroup Inc (NYSE:C) doesn’t need right now.

Citi needs someone low key, low drama, and steadily thoughtful. Someone who’s going to come in and calmly and coolly begin applying standards. Citi’s such a big organization, you really have to. Corbat may be that man.

Foolish bottom line
I’m not telling anyone to go out and buy big into Citi right now. It still has a long way to go and a lot of cleaning up to do. The bank’s balance sheet is still recovering from many bad decisions made during the housing boom.

But the bank may finally be starting to make the turn toward steady solvency and profitability. And I believe it’s worth it to at least take a small position in it. Sooner or later, Citigroup Inc (NYSE:C) was going to start turning itself around, and I think that time is now.

The article When Is It Time to Buy Citigroup? originally appeared on Fool.com.

Fool contributor John Grgurich owns shares of Goldman Sachs, Citigroup, and JPMorgan Chase. Follow John’s dispatches from the bleeding heart of capitalism on Twitter @TMFGrgurich. The Motley Fool recommends Goldman Sachs and Wells Fargo. The Motley Fool owns shares of Bank of America, Citigroup, JPMorgan Chase, and Wells Fargo.

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