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  • AIG and the Lunacy of GAAP Reporting [View article]
    Well, in principle, the author is right, BUT: Not all GAAP losses can and should be disussed away like that. As it stands, AIG has taken on far more risk at unreasonably low prices than they should have. And the problem is, NOBODY out there has yet a clue what the final outcome will be. If you want to take comfort in AIG's future loss estimates on their portfolio, please do, but I for my part won't. AIG's mgmt has proven time and again that it cannot be trusted. You may as well get another derivatives nuke blowing up.
    What is the 'correct' current value of AIg based on their expected normalized earnings, normalized adjusted book value and cash flow? Has anyone figured that out with a reasonable degree of accuracy? Can the author tell us anything about that other than he thinks AIG's stock is 'too cheap'? If not, what is that notion of 'too cheap' based upon?
    Aug 27 10:42 am |Rating: 0 0
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