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  • This Insurance Company Is 40% Undervalued [View article]
    My personal view on the matter is, that I believe return on equity is going to increase for the next 2-3 years for the entire industry.

    Historically, look it up for yourself, P&C companies, such as AIG have traded at around 1.5x BV during an expansion. Since other peers already trade at 1x BV there is a LOT of room to grow both earnings and multiples. Strong buy.
    Aug 16, 2013. 06:43 PM | Likes Like |Link to Comment
  • Bank Of America Strong Buy - 30% Undervalued And Lagging Peers [View article]
    Though intangible, those assets are still held on the balance sheet. Unless you assume the company overpaid for past acquisitions or find other fault in those assets, why would they need to be excluded from a net asset valuation point of view?
    Aug 12, 2013. 03:55 PM | 3 Likes Like |Link to Comment
  • This Insurance Company Is 40% Undervalued [View article]
    Thanks DVL.
    If you know about any insurance stocks worthy of a closer look that are undervalued (and under-followed) please let me know via PM. We love those kind of things.
    Aug 12, 2013. 01:33 PM | Likes Like |Link to Comment
  • Bank Of America Strong Buy - 30% Undervalued And Lagging Peers [View article]
    They make a tremendous spread already. Get money at 0.25% and loan it out for 4% or more? This is almost as good a deal as the German government refinancing at 2% and loan the money to the Greeks for 10%. Banking is a lovely business.
    Aug 12, 2013. 01:20 PM | 5 Likes Like |Link to Comment
  • Bank Of America Strong Buy - 30% Undervalued And Lagging Peers [View article]
    I do not believe that the worst case scenario,as market history has often told us, should be the one reflected in securities' prices. BAC is getting hit by lawsuits every month and the AIG lawsuit is not the sword of damocles hanging over the stock price.

    But I appreciate your feedback. Strong buy.
    Aug 12, 2013. 01:18 PM | 5 Likes Like |Link to Comment
  • Why AIG's Stock Price Is Not Catching Up To Book Value [View article]
    That's why we are buying, and adding. Cheers.
    Aug 8, 2013. 04:56 PM | Likes Like |Link to Comment
  • Fannie And Freddie Profits Not Going To Investors [View article]
    We just purchased Fannie Mae common stock. Strong Buy at the time of maximum uncertainty.
    Aug 8, 2013. 09:06 AM | Likes Like |Link to Comment
  • Why AIG's Stock Price Is Not Catching Up To Book Value [View article]
    I am a big believer in the AIG warrants. They might not be risky for a long-term investor who intends to hold them for 5 years plus. However, returns are leveraged and investors pay a premium for the warrant: Strike price: $45, stock price $48 but warrant price $20.
    Aug 8, 2013. 05:23 AM | Likes Like |Link to Comment
  • Why AIG's Stock Price Is Not Catching Up To Book Value [View article]
    @JD
    Right. We used every major pullpack over the last 3 years to increase our holdings. Our warrant position alone sits at about 30% of portfolio value. And rising.
    Aug 7, 2013. 09:35 AM | Likes Like |Link to Comment
  • Why AIG's Stock Price Is Not Catching Up To Book Value [View article]
    @kevn
    The price target applies for the end of 2014. Even with a price appreciation of 60%, which could occur rather quickly, the market cap would just equal its book value. I do believe that the investments that AIG carries on its balance sheet will be worth more than that in a few years time. Plus, I believe the book value is waterproof, even big cats shouldn't affect book value growth much. The earnings multiple will also likely expand until 2014.
    Aug 7, 2013. 09:33 AM | Likes Like |Link to Comment
  • MGIC Investment Corporation Reports First Quarter 2013 Results [View article]
    Baaaaad.
    Apr 30, 2013. 09:12 AM | Likes Like |Link to Comment
COMMENTS STATS
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