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- grizzle - 03-02-2009
So any new opinions of AIG after the latest?
http://money.cnn.com/2009/03/02/news/companies/aig/index.htm
I don't know, it sounds like a) AIG can do no wrong in the govt eyes, and b) the govt is doing everything BUT nationalism AIG.
They keep lending AIG money, and now they are receiving basically common stock in exchange, obviously banking on the AIG stock price to fly up at some point.
Maybe I'm misinterpreting, but it seems like the risk of AIG getting taken over is very low.
Thoughts?
- Thudz - 03-02-2009
grizzle Wrote:So any new opinions of AIG after the latest?
http://money.cnn.com/2009/03/02/news/companies/aig/index.htm
I don't know, it sounds like a) AIG can do no wrong in the govt eyes, and b) the govt is doing everything BUT nationalism AIG.
They keep lending AIG money, and now they are receiving basically common stock in exchange, obviously banking on the AIG stock price to fly up at some point.
Maybe I'm misinterpreting, but it seems like the risk of AIG getting taken over is very low.
Thoughts?
4th quarter = 13 weeks = 91 days = 2184 hours = 131240 minutes
AIG is going to report $60 billion in 4th quarter loses.
AIG lost $457,177 a minute in the 4th quarter.
That's my thought.
- Vanraw - 03-02-2009
Its ok though cause we are going to give them another 40 billion.
- Dustie - 03-02-2009
Griz, I would avoid companies like this that have basically failed. They're simply being propped up right now so that that don't take down all their counterparties with them. The 30 billion isn't really going to AIG so much as it's going to companies that dealt with AIG.
I would focus on finding companies that you know will be around in 10 years. Find companies that have a long term competitive advantage. There is no need to take a risk right now on AIG. There are plenty of great companies selling very cheaply right now. The key imo, is to average into these companies over the next few years. Sure, the market could go lower, maybe even 90% from the peak, but if you start averaging in you can protect yourself from that and be assured of long term rewards.
- Vanraw - 03-02-2009
Yes agree with Dusty. I hope my comment was taken in the sarcastic light it was meant for
.
- Dustie - 03-02-2009
Vanraw Wrote:Yes agree with Dusty. I hope my comment was taken in the sarcastic light it was meant for :).
I took it that way, but Griz just called and said he put 80% of his net worth in AIG so you might need to apologize to him.
- Thudz - 03-02-2009
Vanraw Wrote:Yes agree with Dusty. I hope my comment was taken in the sarcastic light it was meant for
And if it wasn't obvious from my comment. I'd rather invest in a submarine with screendoors than AIG.
- grizzle - 03-02-2009
Dustie Wrote:Vanraw Wrote:Yes agree with Dusty. I hope my comment was taken in the sarcastic light it was meant for
I took it that way, but Griz just called and said he put 80% of his net worth in AIG so you might need to apologize to him.
I should have only put 80% in? Oops.
- Skaag - 03-02-2009
And here I was thinking AIG was a good investment after I saw their logo on Man. U's jersey. How could Alex Ferguson and Rooney lead me wrong??