Sunday, May 11, 2008

I blew it – AIG

During the Hank Greenberg era, AIG was the ultimate money making machine in the P&C world. Thinking I could get some "value" by picking up $1,000 a few months ago, I blew it. Last week, it announced it was raising $12.5 billion in additional capital after posting a $7.8 billion loss during the quarter. Needless to say, the stock didn't move up.

From what I can tell, the new CEO is not up to running the a company like AIG. While I won't sell my stake, I am not going to add to it.

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