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Strategies & Market Trends : Value Investing

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To: Spekulatius who wrote (20919)	4/1/2005 11:38:43 AM
From: Paul Senior	Read Replies (2) of 78666

AIG: The revelations about AIG make it too tough for me to add to my few shares. I understand financial machinations to smooth earnings, but the outside entities controlled and run by Mr. Greenberg and other AIG execs or ex-execs - how they affect earnings, how they maybe drain earnings from AIG (public shareholders) to themselves, how legal all this is or isn't - it's just not worth stepping into this unknown by buying AIG shares at this new annual low. The BOD - these high profile people - don't seem to have a handle on AIG's business. Who does? I wonder about the guy Mr. Greenberg picked to succeed him. Is he aware of all these machinations. If not, how knowledgeable can he be about running the business? Understanding insurance businesses is such an esoteric thing, imo. Reading the Wall Street Stories about Mr Greenberg and his apparently imperial ways, is dismaying to me. Perhaps if one holds AIG shares, it's best not knowing some details. Maybe like they say about sausage: you want to eat it and enjoy it - you don't want to see how it's made.

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