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  • pmlljl pmlljl Jun 28, 2008 6:32 PM Flag

    Seeking blessings from the bear

    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.

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    • 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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