AIG

Insurance arbitrage is not going to yield growth, the only way this company has ever grown is by taking risks..and it is obvious they know that based on some comments made recently. They have sold so much of their high return assets that it makes book value and past EPS of no value looking forward.

It is also a crime that they are allowed to write down taxes through passing forward NOL's as they are..what a slap in the taxpayers face.

Investment gains are not recurring and should not be included in core earnings. It wont be there next quarter.

Fundamentals for AIG are getting stronger every quarter...do you disagree?  so, once the goverment is gone...the book value chasing will begin.

They are selling assets that have performed nicely for them in order to bring in cash, there will be no book value chasing as they are selling assets which are ADDING to book value to buy shares to slow dilution.

Even selling these prime assets they still are unable to buy all the shares, this weekend they purchased 35% of the shares, that means there was still dilution and that is a lowering of book value as well.

Their core assets are not growth assets, the only way this company has ever grown is by taking risks. I think you are way off on book value and way off on what their growth prospects are.

He can think book value is 200 a share, to me that means absolutely nothing. I look at assets and financial statements, he looks at a teleprompter.

AIG is leaner and meaner because they did a reverse stock split, sucked off the teet of the goverment and sold off a huge chunk of their assets.

Their core business has never been a monster growth machine, the growth has always come from speculation and risk. 

The 1 for 20 reverse split means the stock now is trading at what 1.50 pre split? 

https://www.scribd.com/doc/92756415/T2Partners-ValueInvestingCongress-5712

I am not sure that those arent option warrants that he is executing.

Either way the dude has been getting killed buying AIG. The bulk of his buys, all made pre-split in 2008, the 1 for 20 reverse happened in 09, so his buys until 2011 are all divided by 20, he owns all those shares at extremely high prices..will probably never recover his cost basis.

No wonder he is bottom fishing.

He bought at 70 pre split in 2006, his cost basis is probably 50-70% higher than current price.

i don't care when THEY (not he) bought in the past, it doesn't change the fact that they wouldn't be buying shares if they didn't believe the stock has much upside (even if it didn't work out before). it's always great to have the directors invested on the same side as you.

got $3k of profit (+15%) from the sell and buyback (posted above) on the sidelines.

not too late to ride this with me.

How do conclude they are done selling in the open market?

That article says they were done with that batch..the treasury still owns what 65% of the company?

Treasury still owns 61% (1 billion shares)...so 5 more issues like this last one (200 million shares) and they'll be done.

AIG is going to be right there scooping up the shares every time.

AIG scooping up billions in shares at every offering...love it.

$3k profit realized + $3k profit unrealized.

nice chart...nice valuation...nice ROI.

sold these at $6 for a 20% gain.

not the double i was hoping for, but can't complain about $7k profit over 8 months on $20k.