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AIG
It appears that AIG is moving closer to selling off a part of if not all of its aircraft leasing company ILFC.  This business could be worth anything from $6-10 billion and is not a core asset for the company.  AIG would be wise to take advantage of today’s favorable market environment, to sell the...
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AIG CEO Robert Benmosche continues to show his leadership stripes by looking to get more aggressive into the mortgage market.  In this FT article Benmosche suggests that the company is looking to buy the mortgages that their subsidiary United Guaranty Corp is insuring.  United Guaranty has modified risk based pricing and is reviewing each loan...
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I’d expect a tremendous amount of competition but if China is indeed opening up their domestic auto insurance market the potential benefits can be huge.  If I were in the auto insurance in business I’d copy Geico’s model which has been so successful in the United States as much as possible.  The low cost operator...
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I’ve said it before and I’ll say it again that I really have a tremendous amount of confidence in Robert Benmosche.  He strikes me as honest, hard working, and he has a strong track record which is what matters.  In this transcript he outlines exactly where the opportunity is for AIG.  He flat out says...
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http://seekingalpha.com/article/453981-aig-is-too-good-a-long-term-idea-to-pass-up INVESTING IN THE FINANCIAL MARKETS INVOLVES RISKS. OPTIONS ARE NOT SUITABLE FOR ALL INVESTORS.
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Today Treasury announced that they will be selling $6 Billion of AIG stock, and AIG announced that they will be buying up to $3 Billion of it.  This is enormously accretive to AIG shareholders being that if AIG were to pay $29 a share from Treasury, they would be purchasing their own stock at 52%...
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On December 19th I sent out an email discussing the unbelievably cheap valuations that we were seeing, which you can see from the forwarded email below.  This is just a quick update on how they are faring.  The point is not to get overly excited, just as we don’t want to get overly pessimistic when...
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We have seen some very encouraging insider buying at AIG that I believe warrants attention.  AIG is one of the most misunderstood large cap companies that we see.  Most analysts and market participants are blinded by their recent history of liquidity failure, as opposed to the century long history of becoming one of the most...
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With 2011 coming to a close I think it is very important to lay out our views going into 2012, and how that will affect our investment strategies.  2011 was a very difficult year that saw some of the most successful investors Warren Buffett, Bill Gross, Bruce Berkowitz, John Paulson, Martin Whitman, among many others...
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Today (JEF) Jefferies released their earnings which drastically beat low expectations, and as a result the stock is up about 20%.  This is an extremely well run investment bank, and the largest shareholder’s are Leucadia, and the CEO Richard Handler.  Both Handler and Leucadia have proven to be extremely astute managers and investors in the...
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