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johnetoz

johnetoz
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  • AIG Shareholders Ruffle Feathers [View article]
    As an employee of AIG for many years, I will merely limit my comment to this. The article is factually incorrect on so many levels that it is the first I will ever ask Seeking Alpha to take down.
    Mar 20 07:23 AM | Likes Like |Link to Comment
  • AIG sues Maiden Lane II, asking a judge to declare the insurer did not transfer "litigation claims" to the vehicle when it sold it billions in MBS to it during the financial crisis. At issue: Like everybody else, AIG has sued Bank of America (BAC) to recoup losses on bad mortgage paper. The FRBNY - which already got its own settlement from BofA - is of the opinion AIG lost its right to sue when it sold the securities to Maiden Lane. [View news story]
    A couple of quick points. First, the Maiden Lane lawsuit is one that centers on the contractual obligations of many of the same banks that the government filtered money to through AIG. AIG believes some of those companies breached agreements, breached fiduciary duty, etc., resulting in collateral calls to AIG that led to the bailout. Those institutions, Goldman included, somehow avoided reproach and bailout despite the fact they were involved in as risky or more risky policies than AIG. Second, please keep in mind that AIGs bailout did not result in America's economic problems; an indication of them, perhaps, but it cannot be solely to blame. Third, AIG repaid the government and provided a profit of $22 billion. It also kept about 20 other financial institutions from failing. It is really time to put these old arguments and bad feelings aside, and focus on the business of AIG at this point.
    Jan 12 09:59 PM | 2 Likes Like |Link to Comment
  • Top 10 Holdings Of 13 Dividend Income Funds [View article]
    As usual, I would find balance to be the best approach. There are many large cap dividend stocks worthwhile for those of us in the 20-50 age range to own and provide stability in our portfolio. And there are then many small to mid-cap stocks to drive growth.
    Dec 16 10:29 AM | 1 Like Like |Link to Comment
  • Abbott: A 'Must Buy' Pharma For Long-Term Gains [View article]
    Your analysis of JAK inhibitors is significantly incomplete, and, unfortunately, significantly impacts the value of ABT long term. One JAK inhibitor is already on the market, and approvals for rheumatoid arthritis use are not far behind. You cannot analyze ABT long term without, (a) analyzing the impact of the split and, (b) properly analyzing JAK inhibitors, as these inhibitors directly impact one of ABT's primary sources of revenue.
    Oct 26 09:43 AM | Likes Like |Link to Comment
  • Chart Of The Day, AIG Edition [View article]
    Actually, ntalebfan, I'm not sure what your comment is trying to say. AIG's bailout was a loan - a loan to AIG to essentially bail out a number of other financial institution. That loan has been repaid, with profit, and with more government shares still to be sold. AIG is an absolute success story, and Benmosche is one of the reasons why. Moreover, AIG is back to doing what it does best - insuring risk that other companies cannot insure.
    Oct 26 09:24 AM | 3 Likes Like |Link to Comment
  • Altria: Reckless Dividend Raises Are Unsustainable [View article]
    I have not commented on articles here before; I am new to the game, and, therefore, spend a lot more time reading. I feel the need to comment here, however, because I do not get you TII. You are an attorney. Funny, so am I, but that does not qualify me to provide some great insight on Altria stock. I know the litigation risks, of course, but that is only part of the picture.

    Moreover, I am thoroughly unimpressed with your "real world" perspective. You clearly do not drink (enough), or spend little time looking at taxes on alcohol. This is a true sin tax windfall. Keep raising the prices on cigarettes, keeping offering new smokeless products, etc., and you will keep reaping the benefits. It also seems to me that debt is going to remain this cheap for the foreseeable future...it would be detrimental to the overall economy to start pushing interest rates in the near or mid-term future, and, therefore, interest rates are going to stay low (as much as we might like to see them rise).

    Is Altria over-valued? Good question - it might be expensive to buy in right now. Should we all run and dump the stock? No. Has Altria's management pushed the company to the brink of financial failure with its dividend raise? No.

    This reminds me of the conversation between Jack Ryan and Captain Ramius in Hunt for Red October: "Your conclusions were all wrong Ryan; Halsey acted stupidly."
    Sep 4 03:53 AM | Likes Like |Link to Comment
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