FrankArabia Posted November 2, 2012 Share Posted November 2, 2012 you should be happy that AIG is going down in price.....why fuss? i'm happy. now i get the weekend to mull over their financials. Link to comment Share on other sites More sharing options...
PlanMaestro Posted November 2, 2012 Author Share Posted November 2, 2012 AIG Cuts Wall Street Reliance With Real Estate http://www.bloomberg.com/news/2012-11-01/aig-cuts-wall-street-reliance-with-real-estate-mortgages.html It’s making sure that we are taking control of the risks we’re going to put on our books, and we can’t rely on the public markets. We have to do direct investment. — Benmosche PS: Cardboard LOL, ain't it great? Link to comment Share on other sites More sharing options...
MrB Posted November 2, 2012 Share Posted November 2, 2012 Price drop is totally rational for a market that today has a 4 month average holding period. Link to comment Share on other sites More sharing options...
Grenville Posted November 2, 2012 Share Posted November 2, 2012 The plain and simple is that the stock market is true garbage. You had Amazon.com last week missing on quarterly earnings, sales and Q4 forecasted sales. I should not say missing earnings because they generated losses. The stock went down briefly after hours then up huge the next day. If it had been Chipotle or any other momo stock it would have been down 20%. Incomprehensible. They had to find some excuse for the move so they talked about some mysterious beat on operating margins. I guess it had to be NA adjusted operating margins! I actually think that Amazon is a fraud. If the stock market did not keep it high, they would have to show profits like Target, Walmart, BestBuy or any other retailer. Retailing is still their main business. Now, that the stock market keeps rewarding them just for showing sales growth, they can keep selling product at cost or below cost. Isn't illegal? With the sales tax advantage disappearing and them building warehouses everywhere to shorten delivery times, there is really no difference anymore in their retailing business with other brick and mortar retailers. There are also other issues, but that is for another discussion or thread. I don't want to takeover this thread, but regarding Amazon I would encourage you to read the shareholder letters from 1997 till now and look at the financials. Quickly making judgement based on financials without looking at what the business is investing in makes your quick judgement similar to other short term market players. I won't argue about Amazon more than that. Sorry if I am taking your comments out of context as well. I value your posts on this board. Link to comment Share on other sites More sharing options...
vinod1 Posted November 2, 2012 Share Posted November 2, 2012 3Q CC transcript http://seekingalpha.com/article/973271-american-international-group-s-ceo-discusses-q2-2012-results-earnings-call-transcript Vinod Link to comment Share on other sites More sharing options...
hyten1 Posted November 5, 2012 Share Posted November 5, 2012 http://finance.yahoo.com/news/treasurys-g-stock-sale-priced-024526178.html;_ylt=AmTn_m.jHGN0WjnajZ_451yiuYdG;_ylu=X3oDMTIxdmYzYjNrBG1pdANXaWRlIFF1b3RlcyBNb2R1bGUEcG9zAzMzBHNlYwNNZWRpYVJlY2VudFF1b3Rlc1BvcnRmb2xpb3NXaWRl;_ylg=X3oDMTFpNzk0NjhtBGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25z;_ylv=3 Link to comment Share on other sites More sharing options...
CONeal Posted November 5, 2012 Share Posted November 5, 2012 http://finance.yahoo.com/news/treasurys-g-stock-sale-priced-024526178.html;_ylt=AmTn_m.jHGN0WjnajZ_451yiuYdG;_ylu=X3oDMTIxdmYzYjNrBG1pdANXaWRlIFF1b3RlcyBNb2R1bGUEcG9zAzMzBHNlYwNNZWRpYVJlY2VudFF1b3Rlc1BvcnRmb2xpb3NXaWRl;_ylg=X3oDMTFpNzk0NjhtBGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25z;_ylv=3 This is not right. It has the details of the last offering. Link to comment Share on other sites More sharing options...
hyten1 Posted November 5, 2012 Share Posted November 5, 2012 i notice that too very strange Link to comment Share on other sites More sharing options...
Green King Posted November 5, 2012 Share Posted November 5, 2012 why can someone explain ? Link to comment Share on other sites More sharing options...
mankap Posted November 6, 2012 Share Posted November 6, 2012 ILFC’s Courpron Sees IPO Next Year If Markets Improve Now, with AIG’s own condition improved and some shares repurchased from the U.S. government, the insurer isn’t in a hurry to cut its stake, ILFC President Fred Cromer said. “The good news is they’re not in a position where they’re forced to go,” Cromer said. “As long as the market is choppy and uncertain and that’s not going to give them what they’re looking for, they can be patient.” http://www.bloomberg.com/news/2012-11-05/ilfc-s-courpron-sees-ipo-next-year-if-markets-improve.html Link to comment Share on other sites More sharing options...
txlaw Posted November 6, 2012 Share Posted November 6, 2012 Interesting. Goldman just named Mark Tucker a director to its board. http://dealbook.nytimes.com/2012/11/05/goldman-names-new-director/ Lloyd C. Blankfein, the chief executive of Goldman, said in a statement: “Mark has broad and deep operating and strategic experience across Asia Pacific, Europe and North America. And, with his nearly three decades of leadership in the insurance and banking sectors, Mark has a proven understanding of effective risk management.” Link to comment Share on other sites More sharing options...
bathtime Posted November 9, 2012 Share Posted November 9, 2012 An guesses on whether the Treasury sales which can begin next week will put pressure on the stock price? I'm looking to establish a position and don't know how these events have affected the stock in the past. Thanks! Link to comment Share on other sites More sharing options...
mankap Posted November 9, 2012 Share Posted November 9, 2012 Once treasury announces the sales price, AIG stock will trade at that price for some time. In the past the treasury sales price has been below the market price. Link to comment Share on other sites More sharing options...
Hielko Posted November 9, 2012 Share Posted November 9, 2012 I think it's highly probable that the treasury will sell the remaining stake in the open market, and not do a secondary offering like it did the last few times. Link to comment Share on other sites More sharing options...
mysticdrew Posted November 9, 2012 Share Posted November 9, 2012 I think it's highly probable that the treasury will sell the remaining stake in the open market, and not do a secondary offering like it did the last few times. That's my understanding also. Link to comment Share on other sites More sharing options...
Uccmal Posted November 10, 2012 Share Posted November 10, 2012 Q, Would they (the treasury) have to announce they are selling, or will they just go ahead and start it next week, after the lockup? I think the stock price has been dropping on the above possibility, and the so far, unquantified losses from Sandy and the Nor'Easter. Once both get Numbers around them things should begin to rebound. Ben. telegraphed last week that AIG was not looking at buying in any more stock, so I am figuring there will be no private placement with AIG involved. Link to comment Share on other sites More sharing options...
Cardboard Posted November 10, 2012 Share Posted November 10, 2012 http://video.cnbc.com/gallery/?video=3000128277&__source=yahoo%7Cheadline%7Cquote%7Cvideo%7C&par=yahoo I am not sure who will step in his shoes in a year or two at AIG, but this man is the real deal. Cardboard Link to comment Share on other sites More sharing options...
txlaw Posted November 10, 2012 Share Posted November 10, 2012 http://video.cnbc.com/gallery/?video=3000128277&__source=yahoo%7Cheadline%7Cquote%7Cvideo%7C&par=yahoo I am not sure who will step in his shoes in a year or two at AIG, but this man is the real deal. Cardboard True, he is a real CEO. Can't help but like this guy being in the C-Suite (despite all the Ayn Rand nonsense). Link to comment Share on other sites More sharing options...
MrB Posted November 12, 2012 Share Posted November 12, 2012 AIG keen to sell bank, expand mortgages: CEO http://www.reuters.com/article/2012/11/12/us-aig-assets-idUSBRE8AB0LK20121112 "MORTGAGE EXPANSION Even as it looks to sell off the bank, though, one place AIG is bulking up is in mortgages. The company's mortgage insurer, UGC, has become unexpectedly strong in recent years as competitors have faltered due to crisis-era losses. But Benmosche said AIG would like to go even deeper than just insuring home loans. "We are also now looking at ways we could become direct investors in mortgages," he said. "We are going to do more of our own direct lending, both commercially and residentially." AIG's motivation is the same as for many insurers in this persistently low interest rate environment -- yield. With fixed income portfolios struggling, insurers are hungry for even a few extra basis points of relatively safe return. Benmosche said "it makes a big deal" at the current low rates to get that little bit of extra yield by buying mortgages directly, which is why he said AIG is talking to big banks about buying their non-agency mortgage debt." Not sure if it is a good thing that they start buying mortgage books off the banks. Any thoughts? Link to comment Share on other sites More sharing options...
rranjan Posted November 13, 2012 Share Posted November 13, 2012 I think they should stick to their core business. I don't like AIG to get involved in bunch of stuff. Ben is not likely to be with AIG after few years. Company will be better off if culture of sticking to core business is ingrained by the time he leaves. Link to comment Share on other sites More sharing options...
racemize Posted November 13, 2012 Share Posted November 13, 2012 In the other thread on BB, this link was posted (I also think Plan posted this a while back): http://alephblog.com/2012/07/30/on-life-insurance-and-life-reinsurance/ In the article, David Merkel says AIG is a "value trap" and mentions the accounting practices and validating book value. I gather this guy is supposed to be fairly good, but I haven't seen any specifics and have not seen others mention this as an issue--do any of you folks have any insight? Link to comment Share on other sites More sharing options...
FrankArabia Posted November 13, 2012 Share Posted November 13, 2012 life insurance accounting is a quagmire....but that is the nature of long tailed businesses.... you gotta take a leap of faith based on what you see. AIG has restructured and we all know it is not the best insurer out there, but the value is there.... in terms of disclosure, its all out there.... Link to comment Share on other sites More sharing options...
bathtime Posted November 14, 2012 Share Posted November 14, 2012 If I'm reading correctly, looks like AIG is now Leon Cooperman's largest position: http://www.gurufocus.com/StockBuy.php?GuruName=Leon+Cooperman Link to comment Share on other sites More sharing options...
PlanMaestro Posted November 14, 2012 Author Share Posted November 14, 2012 Tepper / Appaloosa new 8.3 million shares position. Third largest. Link to comment Share on other sites More sharing options...
FrankArabia Posted November 14, 2012 Share Posted November 14, 2012 I added to my position today...... Link to comment Share on other sites More sharing options...
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