(Bloomberg) -- Steve Eisman is pitching a Wall Street pair: Short scandal-plagued Wells Fargo Inc. and go long on undervalued Citigroup Inc.
“The last person in the world who was actually surprised by the scandals is me. I’ve always felt there was something wrong with Wells Fargo’s culture, for a very, very long time,” Eisman, a money manager at Neuberger Berman Group, said Thursday at the Capitalize for Kids Investors Conference in Toronto. “It’s going to take years to unwind that culture.”
That unwinding will keep the lender from benefiting from the global trends that will bolster Citigroup and the rest of the banking sector, he said.
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