Seeking Alpha

Stephen Castellano

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  • Assured Guaranty Shares Look Poised to Drop Further [View article]
    Lots of news articles on Google News indicating that bankruptcy isn't an option for a lot of municipalities (addding to Amistead's comment above): news.google.com/news/s...

    From this Fortune article, it seems that some investors are actually stepping up buying of municipal bonds right now: finance.fortune.cnn.co.../

    AGO continues to improve ROE and it is trading at 0.7x book value, and I think much less based on tangible book value. If municipal bond Armageddon is not on the table, this could be a great idea.

    Having said that, I do own AGO in a model portfolio that turns over every month covestor.com/ascendere..., and I'm thinking of replacing it simply because I have since found a few relatively better shorter-term ideas. Maybe something like the private equity firm with public stock Ares Capital (ARCC), which is a good swap idea given the similar market cap size and other attributes.
    Nov 21 10:23 PM | Likes Like |Link to Comment
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