AIG, A Surprising Investment Opportunity [View article]
Once again nobody commented on the fact that in the third quarter the top hedge funds bought more AIG than any other stock .Has anyone examined the record of the top hedge funds in the last 15 years. I will tell you it is fantastic. Remember they have the best contacts,traders, and analyst.
Bruce Berkowitz Expects To Make 4 Times His Money On His Core Holdings [View article]
As to the comment "what if you can't trust book value" I also am concerned about that. However, when I examined the 13f reports for the third quarter.and saw the top hedge funds for the last 20 years buy enormous amount of shares in AIG I bought a substantial number of shares . Why , because they have the best analyst, traders and contacts. That is the reason they did so well the last 20 years.It certainly wasn't luck.
JPMorgan (JPM) has "transitioned from model citizen to problem child" in the eyes of Washington, the NY Times says. The latest evidence of the shift is a government document (reviewed by the Times) which reportedly says the firm dreamed up "manipulative schemes" in order to wring profits from "money-losing power plants." The Federal Energy Regulatory Commission also says Blythe Masters (mother of the synthetic CDO) "falsely denied under oath her awareness of" certain activities allegedly undertaken by a group of Houston energy traders. It isn't clear whether actions will be taken against JPM, which will have a chance to respond to the allegations. [View news story]
We should withhold judgment until JPM responds to the charges.
AIG improves its debt picture, saying it will redeem on March 15 all of its 7.7% junior subordinated debt due in 2047. A total of $1.1B of the paper is outstanding. (PR) [View news story]
This is just another event toward an increase in the value of the stock
New York's AG has filed a civil complaint against JPMorgan Chase (JPM), alleging widespread fraud in the sale of mortgage-backed securities in the run-up to the financial crisis. The suit relates to billions of dollars of subprime securities issued by Bear Stearns' before its takeover by JPM, and is the first brought under the authority of a law enforcement group formed by President Obama in January to pursue alleged wrongdoing during the financial crisis. More cases are expected to follow. Shares -0.8% AH. [View news story]
I thought that when JPM took over BS the govt. agreed to be responsible for a portion of future litigation
Billionaire Tom Sandell's Top Portfolio Positions [View article]
AIG is my largest holding because it is the largest holding of the Hedge Funds. AIG's market price is 60% of it's book value.Allthe other insurance companies market value is between 80% & 110% of book value.In the past when it would become known that a company was the largest holding of the hedge funds which have been enormously successful in the past 20 years, the stock would quickly reduce the difference between the market value and the book value.Which is correct. The Hedge funds or the Market.
Bruce Berkowitz Expects To Make 4 Times His Money On His Core Holdings [View article]
You are absolutely correct. When I was younger I missed out on Hugh profits if I had held the stock instead of selling and bragging to my friends that I made a few bucks. I believe pigs make money and those who pull the trigger too soon miss out on the real money.
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JPMorgan (JPM) has "transitioned from model citizen to problem child" in the eyes of Washington, the NY Times says. The latest evidence of the shift is a government document (reviewed by the Times) which reportedly says the firm dreamed up "manipulative schemes" in order to wring profits from "money-losing power plants." The Federal Energy Regulatory Commission also says Blythe Masters (mother of the synthetic CDO) "falsely denied under oath her awareness of" certain activities allegedly undertaken by a group of Houston energy traders. It isn't clear whether actions will be taken against JPM, which will have a chance to respond to the allegations. [View news story]
AIG improves its debt picture, saying it will redeem on March 15 all of its 7.7% junior subordinated debt due in 2047. A total of $1.1B of the paper is outstanding. (PR) [View news story]
New York's AG has filed a civil complaint against JPMorgan Chase (JPM), alleging widespread fraud in the sale of mortgage-backed securities in the run-up to the financial crisis. The suit relates to billions of dollars of subprime securities issued by Bear Stearns' before its takeover by JPM, and is the first brought under the authority of a law enforcement group formed by President Obama in January to pursue alleged wrongdoing during the financial crisis. More cases are expected to follow. Shares -0.8% AH. [View news story]
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traders. You like it or you don't.
Billionaire Tom Sandell's Top Portfolio Positions [View article]
Bruce Berkowitz Expects To Make 4 Times His Money On His Core Holdings [View article]