Is $1,218.88 per share. There are few companies whose future is more grim than C's ... but AIG is one of them. Outlook is negative. Very negative.
Don't get excited about them "hedging" all their obligations. They're a leaking shell of bad assets. Nothing more.
Fell 7% today ... C has been outperforming the market for the past few months for reasons that escape me. While I don't understand rational people investing in any American banks during the continuing Great Housing Disaster, I particularly don't get people buying one that is heavily owned by our incompetent federal government that, you can be sure, will be happy to unload its shares at any price it can fetch over it's buy-in (which is 20% down from here). [more]
I've been reflecting on the past recently. As part of that, I've read through my older blog posts. Honestly, I'm kind of disappointed. I noticed two things. A) I've been quite immature at many times during my stay at CAPS, and B) I'm wrong far more often than I'd like. [more]
Allied Defense Group (ADG) reminds us today with its 35% spike that when you are working the US government, bribery is not enough to slow you down. ADG, an ammunition maker, fell from $7 to $2 after a government operation connected an ADG employee to a bribery scheme defrauding our government. ADG had a buyout at $7 on the table but collapsed. I looked at the situation and said, heh, well our government is totally corrupt, and, well, it's only a few employees, so, um, this is nothing. The government will ignore the corruption and everyone will move on with their lives. And so they did, and now ADG is back over $4. Let this be a lesson to you all ... when working with the government, bribery pays. [more]
People are getting insane scores (good and bad) due to index changes on British stocks being way (try 4,000%) off. Check out everybody's favorite Wall Street player to see this glitch in action.
Also, while Gammon Gold is still a lousy company, I wouldn't short it here at 5.86 -- responding to someone's question. GRS will die a slow death, not a Lehman or Bear Stearns style insta-collapse. I'm hoping to reload my red thumb over 6.50.
More news today. Apparently Gammon is buying a new property in hopes of washing away the pain of shutting down their already in production mine. Here's the press release from the seller (Valdez). [more]
Gammon Gold fell 9% today and only has 91% left to go. Why anyone still owns shares in the worst gold miner (as opposed to gold share promotions at NG and SA) in the world is beyond me. This stock is going to 0. Today's awful announcement follows strong insider selling, decreasing mine grades, and continuing failures at being profitable. Insiders started just in time, it appears. I quote from IKN who in turn is quoting Brian Christie on todays dreadful news. [more]
The following is quoted from streetinsider.com. I quote verbatim because the quote says it all: [more]
I think there should be more lucky charms for our profiles. There aren't that many more other than the 200-500+ pick ones for me to get. I'm still bummed I didn't get the 100 in 100.
Anyway, what ideas do you all have for additional charms. I'll throw mine out there...
Introducing the, "Player managed to lose more than 10,000 points from his/her peak score" charm. I would so totally have earned that one!
And is there a price limit too, or just the $50k avg. vol? I wish to green thumb AGT but it says it is not ratable. However, FNM (under a buck) is ratable) while FRE (over a buck) is not. What's up?