Citycorp is a big bank, and we the proletarians know very well what banks do. Where we understand, there I may buy.

We proletarians like dogs (of the Dow). Our dog should be a cheap dog. We can’t afford pedigree prize winners. Our Dog of Dow should be strong enough to protect us and our few belongings, considering the tough neighborhoods where we, poor investors, often live.

C (Citycorp) happens to be all that.

Citycorp is the largest bank in USA, that makes it pretty powerful, doesn’t it?

C has Total Cash of 568.56B and Total Debt of 526.82B. I would dislike that if it was a different kind of company. For a bank… I love it. Their job is to collect more interest on each dollar than they pay. Many banks have debt larger than cash.

More cash than debt makes C stronger.

C is growing steadily: its quarterly revenue growth year to year is 3.40% and it showed some good earnings growth too: a hefty 30% year to year.

Being a simple mind, what amazes me is how cheap some stock are. Of course great economists, technical analysts and similar big guys will have many explanations, but from my simple proletarian point view:

Citycorp is a cheap dog (of the dow).

It has a rather surprising P/E of 9.66. It is so amazing low that I run to check if it is supposed to be a one time shot, but according to our Yahoo Finance friends, it is supposed to be 9.85 in 2007. No big difference.

Price for stock of this big healthy bank has been priced between $40 and $50 in the last 6 years. The bank grew and got stronger during those years. Now I can still pay it about $45, so it seems a surprisingly good deal for me.

Last but not least, a juicy dividend yield of 3.90%, with forecasts, by our friends at Hemscott Americas, to grow till 4.30% makes me put my order to buy at any price at market opening. I will let you know later at which price I got them.

By the way, an order at any price at market opening is usually not a good idea. But for such a largely traded (liquid) stock it is OK. It saves some time, it may save some commissions and it will not make it much costlier. Also I think that orders at any price at opening, if there is very many of them, spread optimism on a stock, and show professionals that we, the people, like C. They use their funny technical analysis techniques, to figure out what we, the people want. They know that we the people rule, and they will follow us, making stock prices go up. That’s why I like to give them clear messages, even if I could, wasting some time, buy a few cents cheaper.