Citigroup had 15 $100 million money losing days last year....

That was disclosed in it's annual report that was filed on Friday according to the Wall Street Journal.  Ok, it's not sooooo bad in view of the fact that company also had $100 million winning days -- "more than 55" of them according to a Citigroup spokeswoman.  But the gains couldn't make a dent in the humongous writedowns they've already reported.   Among other first time disclosures:  its investment bank is holding about $20 billion of hard-to-value trading positions "that are directly or indirectly tied to the global commercial real estate market." These little tidbitss and no doubt many others are sure to entertain an exclusive group of 15-20 Wall Street analysts that Vikram Pandit is entertaining later today in a "meet and greet" cocktail party at Citigroup HQ.

Those 15 financially disastrous days, which Citigroup disclosed in its annual report filed late Friday but declined yesterday to describe in detail, added to worries the New York bank's problems are deeper than those that led to about $20 billion in mortgage-related write-downs last year, the ouster of its chief executive and a sinking stock price.

"Ouch!" said David Hendler, an analyst at CreditSights Inc., about the trading losses.

By those standards, Citigroup's losing string is far from the most embarrassing. In August, when the mortgage mess first rocked financial markets, Morgan Stanley lost $390 million in one day's trading. The loss stemmed from a quantitative strategies group, which lost $480 million during that quarter. In its fiscal third quarter, Morgan had four days when it lost more than $125 million-and eight days where it made more than $125 million, according to the firm.

In a statement last night, a Citigroup spokeswoman said the trading disclosure "highlights the volatility that existed in the markets in 2007. There were many days when we saw significant gains, including more than 55 where revenue gains exceeded $100 million."...

Citigroup's latest disclosures come as analysts and investors are clamoring for Vikram Pandit, Citigroup's new chief executive, to unveil his widely anticipated turnaround plan. Mr. Pandit has been mum, but tonight he is hosting 15 to 20 Wall Street analysts in a private "meet and greet" cocktail hour at Citigroup headquarters. The gathering has irked some investors, who weren't invited and who note that Citigroup hasn't yet scheduled a public investor day since Mr. Pandit took over.

After sifting through the annual report, Oppenheimer analyst Meredith Whitney slashed her 2008 earnings estimate on Citigroup by more than 70% to 75 cents a share, cautioning that even the lowered projection "could still prove optimistic." She said the bank's suffering share price could fall below $16 -- or to about 70% of its book value. That level was last seen "during the last credit cycle of 1990-1991," she added.

Citi's Hits: 15 Times $100 Million - Heard on the Street - Wall Street Journal

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To lose $100 million in one day is hard to imagine. Even with those 55+ $100 million gaining days, the recovery processes from the writedown will not be pleasant.