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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Spekulatius who wrote (42509)5/8/2011 11:48:37 PM
From: Spekulatius  Read Replies (3) | Respond to of 78740
 
recent buys MHLD @7.17$ ( a few shares only on pre earnings day) and ASI at 18.8$. Both insurance companies trade way below tangible book. MHLD had a great quarter (hence shot up after earnings), ASI, was so so (apparently some losses that were compensated with gains from asset sales).

I'd rather have those than AIG at current price points. Barron's had a good article about AIG and the impending share sale. it appears that Chartis, AIG property holding, had negative reserve adjustments in 9/10 recent years - last quarter adjustment was >4B$. This sounds like they systematically underreserved.

online.barrons.com



To: Spekulatius who wrote (42509)5/25/2011 8:26:20 AM
From: Madharry  Read Replies (1) | Respond to of 78740
 
im following the aig offering with interest . they are selling 300 million shares at $29 barely above the governments break even of $28.75, the government is selling 200 million shares leaving them with only 1.5 billion shares remaining. i wonder how long they will manage to keep it above the offering price.


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