一篇有關AIG文章

係網上找到一篇有關AIG文章，個人十分認同。。。。

[轉載] I strongly recommend to buy AIG as a fund manager

"I'm a global investor. I have been working as a pension fund as an insitutional investor. As I find AIG's recent stock price fall, I find this as an once in a life time opportunity to become rich. I want to give some reasons why.I've worked with my best research team to work out the true value of AIG. Here comes the reasons.


First, AIG is NOT insolvent company. It has a book value (financial firms are usually measured by book value multiples.) of USD 400 per share. If US treasurys decide to convert their warrants then the book value per share is USD 60 per share. Some may question its future losses and fire sale of their subsidiaries but did you know that AIG has an excellent sales in insurance business? AIG has no losses at all and making a fantastic sound profit in insurance business. Only loss has been made was a business called AIGFP which issued and sold stupid CDS.

But CDS is also almost written off.

Second, 198 billion of US tresurys money is in a form of committment. NOT 198 billion is given to AIG. Many people think that 198 billion is given to AIG, which is not true. Only about 83 billion is used and with divesture of AIG subsidiaries AIG would be able to pay the debt soon. Remember AIG has 1000 billion as an asset.

AIG is NOT currently spinning off the ALICO and AIA, the firms that are very profitable.

They will be put into SPVs (special purpose vehicles) a kind of trust under the control of US treasurys. Some of the preferred shares that are convertable to common shares were given to US treasurys. When they make IPO sometime early next year they will make huge amount excess capital as the IPO market conditions is now improving. They are going to make IPO in Hong Kong in which the market has better captial raising sentiment than any other market in the world.

Third AIG is the only company that has full sole exclusive licence in China. No other insurance company in the world has this as China disapproves a sole license ownership. Overall as even Timothy Geithner emphasized the importance of AIG not going bankrupt, AIG won't fail. He even emphasized AIG will or must concentrate on the core business that the company be best at. That is an insurance business.

You must remember the time of Korea's IMF crisis.

At that time Samsung Electronics were traded below USD 10 dollars, which is now more than USD 700. Most of the financial firms in Korea at that time were traded as low as AIG but after one year it was more than 20 fold and 30 fold. Those companies are the companies that are chosen by the government and the companies that received a government loan. The firms get government loans are fortunate companies not miserable companies. Because they are chosento survive and after the restructuring process they become stronger. This is a life time opportunity to become rich. 

Do you want to become rich? You must buy AIG. You will find out after a year whether I'm right or wrong. This is the only chance to become rich that comes once in a life time as this crisis is the crisis that comes once in a life time.

I wish become all rich."