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i've been buying these up and I think they represent an interesting opportunity.

these are very long dated warrants which expire in 2021

they offer the ability to buy the stock at $45 and the cost is about $15

Well that gets to an implied cost of $60 for AIG

This is basically AIGs present book value. Is AIG worth book value. Well its present ROE would suggest no - but there is no reason to believe that the present ROE is the companies true ROE

This company has been owned by government for 5 years - it is just now being released so I see this as a demutualization - much like the demutualization of stock exchanges

If AIG can get to an ROE of 10% then it is certainly worth book value and management has publicly said they will reach this goal in 2 years. They so far have over delivered on promises they have made.

If AIG then is worth book value or more you are getting the next 8 years of growth value for free

Can a demutualized company grow -oh yeah it can

this is going to be very interesting I think.....
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