Any real humans still here? Looking at AGO on weakness
Hi, is anyone except the bots still following this MB? I'm considering re-entering AGO on the Puerto Rico selloff but hesitating because I see Ross doing such aggressive selling. Anyone (who's a real human) have thoughts on AGO as a contrarian bet?
I think Ross was selling because it is a time-dated fund and he needs to start raising cash. He's also been selling in OCN for the same reason (according to press releases).
BTIG Research (google them, I can't post links in the message board) has been doing a really good job of following the bond market and likes AGO and has some good reports about their exposure, etc. You need to create an account, but it is free.
The way I look at it is they cleaned up Alabama, Stockton, Detroit with very few losses (extending terms, refinancing, etc) and Peurto Rico should be similar. They have a lot of excess equity, so could easily handle some losses here if needed.