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  • pjv2xyw9dww4b5 pjv2xyw9dww4b5 Jun 28, 2008 2:23 AM Flag

    Seeking blessings from the bear

    pmlljl,

    The bear heartily blesses and endorses such an order!

    If you get the fill, will you let Mr. Moody remain on the board, or will you take over?

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    • pj:

      I am like Warren Buffett in that I have no desire to run companies. I look for smart people who run good companies and then I just go along for the ride. I learned some time ago that investors can rarely ever make management change, so you may as well spend your time looking for a company you will be happy with.

      Therefore, Mr Moody will not be replaced by me even if he does get a big paycheck.

      I can't wait to see what happens on Monday, the last day of the month and quarter.

      • 1 Reply to pmlljl
      • pmlljl,
        There is little information available at http://sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000904163&owner=include&count=40 ; however, in http://www.anico.com/Investor%20Relations/pdfs/2007AnnualReport.pdf is:
        "American National has been a publicly
        traded company since its inception. However,
        the Company has not incurred the expense of
        filings with the SEC because of an exemption
        under the Securities Exchange Act of 1934,
        applicable to insurance companies. In conjunction
        with NASDAQ’s change in status to a national
        securities exchange, American National will no
        longer be able to rely on the exemption. American
        National is currently undertaking a significant,
        costly and accelerated effort to fully implement
        the provisions of the Sarbanes-Oxley Act in
        order to prepare for registration with the SEC in
        the spring of 2009. Management expects these
        efforts to enable the American National family of
        companies to more easily prepare Sarbanes-Oxley
        type certifications that will be required for state
        regulatory filings beginning in 2010."

        The bear would prefer that ANAT lets its stock become unregistered, saving the expense of complying with Sarbanes-Oxley. Perhaps you would recommend this money-saving idea to Mr. Moody after your buy tomorrow?

 
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