Follow up to the now $1.48 Citigroup

Yesterday, I was inclined to sell Citigroup out of fear that I am going to hold a $0.40 stock in the near future, but today in the IHT there was a paragraph concerning them that has me pause on this decision.

Instead of paying out dividends to preferred shareholders such as the US and Singapore government, as well as Prince Alwaheed, they are going to convert their shares to common, which is dilutive, but Citigroup still has 1 trillion dollars in assets compared to a market cap of only 9 billion dollars (I took it from Yahoo and realize that this market cap is up in the air to dilution factors). On a leverage basis, as a shareholder, I get 9:1 on my money, which may work against me, but even Mr. Buffett yesterday mentioned how companies such as Citi are eating up the competition with their cheap access to funds.

I would like to see a nice broad market pop so I can get out of the shares, but I don't believe it is wise to liquidate a company that as things improve should benefit immensely from an economic turnaround; just one has to wait awhile on this one.