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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Please enjoy this video of Dick Bove commenting on banks and their insanely low valuations.  Pay particular attention to his comments regarding them trading below their net cash levels, and also you should understand that all of the credit trends are showing improvement.  Earnings will pick up when the economy picks up some real steam...
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Today there is a very interesting article on http://www.bloomberg.com/news/2012-01-30/longest-s-p-500-valuation-slump-since-nixon-discounting-record-u-s-profit.html showing the immense pessimism priced into US equities, exhibited by the extremely low price/earnings ratios.  Markets go from periods of pessimism to periods of exuberance, but what is striking about the last several years is that at no point has the market rallied to a point...
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