AIG warrant holders smiling

• Alongside a rise in the common stock to a multi-year high, AIG's (AIG +0.9%) TARP warrants advance to a new all-time high of $24.03, beating the $24 they traded at on the day of their issuance in January 2011.
• The warrants allow their owners the right to buy AIG common at $45 per share up to January 2021.
• "Our inclination remains to run from the popular and embrace the hated where prices tend to reflect such mistrust," wrote Bruce Berkowitz in 2011 as the warrants plunged as low as $4.66 each. In addition to its 75.7M stake of AIG common stock, Fairholme is the largest holder of the insurer's warrants with 24.5M as of March 31.