violinconcertono3Citigroup (NYSE:C) (NEOE:CITI:CA) is currently trading at ~0.65x tangible value ("TBV") which is certainly a distressed valuation, although it did recover some in the last year or so. Still, the stock is significantly underpriced in my view and I think it is important to understand why the market is pricing the stock at such a large discount to tangible boo There are several key aspects that Mr. Market is concerned with and skeptical about, this includes the following:  Citi chequered r ...