American International Group, Inc. Message Board
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Will Buffet move into AIG..?
Anybody..?
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I don't believe that Buffett/Berkshire will purchase AIG shares. On the other hand, I don't rule out the possibility that National Indmenity (Berkshire's reinsurance subsidiary) will do a major loss portfolio transaction of Chartis's A&E liabilities similar to the 2010 transaction with CNA. I could imagine the U.S. Government leaning on Buffett to do this deal to assist the government in getting out from under its AIG investment. If it happens, I wouldn't be shocked. However, its simply an educated guess on my part.
- 2 Replies to Combined_Ratio
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Berkshire Unit General Re Settles AIG Fraud Case
http://moneynews.com/FinanceNews/US-Gen-Re-Settlements/2010/01/20/id/347476 -
With AIG being so wrong and understated on previous reserves I don't know why anybody would take that chance. While most of the rest of the industry is taking down old reserves, AIG is rasing theirs by billions for two years in a row? It is becoming more obvious each year that AIG has been cooking their books for decades. That's the only way they could have reported such big profits on such under-priced business. And now all those chickens are coming home to hatch.
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Buffet is a smart man. He knows what a mess AIG's core P&C business is and won't touch it with a ten foot pole. He owns General Re, has big stakes in Munich Re and other P&C operations which will clean up on the demise of AIG so will let it fail on its own.
- 1 Reply to Dave_Mansfield
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Finally we have agreement!
I agree Buffett is a smart man!!!! we agree!!!!!!
ps -- you aren't but i am and thus i'm long and you're short. get it?
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I do plan on adding more AIG
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Good question ? Very intresting question.
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Nope. He didn't like them before, and he's not that stupid to start now
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good question. dunno but don't see why not...
- 1 Reply to simply_interested
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with more homework .... no.....b/c he missed the boat and it's too late.
major player is 2 hedge funds and the us treasury.
maybe treasury asked buffit to stay away as this is supposed to be the usa and the usb (united states of buffet)
trust me -- he's in the loop on this political issue.
it really doesn't matter in the end..... this aig stock is going up, up, up. don't care if u agree or not. u will see.
eric
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