AIG? good bad?

[reptile411]

The shares you bought are worthless. Right now the government is frantically trying to unwind all of AIG in an orderly manner. The government is selling anything of value (including ILFC) to pay back bond holders (including the U.S. for bailout money). Do you really think there will be ANYTHING left for the equity holders after all the creditors are paid back?

Looks like my guess work paid off this time, luck perhaps but my initial AIG investment is up %110.81 as of close today. I more than doubled my money in 11 days. Best performing investment I have ever had. I will still watch it closely but I am very happy with the way it is going now. I only wish I had purchased more shares. $286.90 got me 630 shares that are now worth $604.80 WOOHOO

[mrose1120]

nice job,
I put in a couple hundred on sirius at .19 and it closed above .30 today...

i'm not sure what else to think about getting, i've actually read some positive articles about ford..but i dunno

[reptile411]

SHOW ME THE MONEY.

Now understand this is not recommended and its a huge gamble and everything can be lost but I took the gamble and it paid off. I purchased 5,800 shares this morning at market opened and made $1,972 at the close of market today. subtract from that the broker fees and that's about $1,950 in one day for doing nothing lol I love it. Unfortunately this kind of luck I am afraid will not last. I only wish I had purchased those 5,800 shares when I got the first 630 shares.

[mrose1120]

SHOW ME THE MONEY.

Now understand this is not recommended and its a huge gamble and everything can be lost but I took the gamble and it paid off. I purchased 5,800 shares this morning at market opened and made $1,972 at the close of market today. subtract from that the broker fees and that's about $1,950 in one day for doing nothing lol I love it. Unfortunately this kind of luck I am afraid will not last. I only wish I had purchased those 5,800 shares when I got the first 630 shares.

nice job man!

I'm thinking of hopping in tomorrow...not sure how many shares to get though
C has gone up like $1.50 in a day since I purchased it, and sirius has doubled, man I wish I got in on Sirius at 5 cents

[Broken Arrow]

Congrats reptile!

[disneysteve]

Now understand this is not recommended and its a huge gamble and everything can be lost but I took the gamble and it paid off.

Good job. Again, as long as one understands the risks and isn't playing with the mortgage money, it can be a fun ride.

[thekid]

The shares you bought are worthless. Right now the government is frantically trying to unwind all of AIG in an orderly manner. The government is selling anything of value (including ILFC) to pay back bond holders (including the U.S. for bailout money). Do you really think there will be ANYTHING left for the equity holders after all the creditors are paid back?

This is right. The equity is pretty much worthless (if AIG was liquidated, there would be 0 left for equity holders).

The only reason shares have "value" is because of people betting on something that has no inherent value.

Congrats to the OP on having lucked out on the casino.

[sweeps]

The only reason shares have "value" is because of people betting on something that has no inherent value.

Just because a stock has zero book value doesn't mean its worthless. A stock is worth the present value of the company's expected future cash flows. With the government propping the company up, there's a good chance it will make money eventually. Contrast that with General Motors which is losing billions and is not getting much help from the Uncle Sam.

[reptile411]

Thanks for the good comments. I do understand I took a HUGE risk and could have lost 6G but I pay very close attention and had a gut feeling about them today seeing as my initial purchase is up 250% and I was fairly impressed with the congressional hearing I am very happy it paid off but I do understand I could have lost it all in one fell swoop. Thats why I don't gamble with money I cant afford to loose. Now at 1.6% interest that extra $1900 will do well added to my savings account. It all starts with the 38% gain, now it will continue to grow in savings until I have another gut feeling. Hopefully the law of attraction will once again be with me.

[disneysteve]

I haven't played close attention to the details of the AIG stuff, but I did hear yesterday and today AIG is a huge conglomerate that actually encompasses a number of companies, most of which are doing just fine and are profitable and didn't receive any bailout money.

[thekid]

Just because a stock has zero book value doesn't mean its worthless. A stock is worth the present value of the company's expected future cash flows. With the government propping the company up, there's a good chance it will make money eventually. Contrast that with General Motors which is losing billions and is not getting much help from the Uncle Sam.

Good point. I stand corrected.

Thanks for the good comments. I do understand I took a HUGE risk and could have lost 6G but I pay very close attention and had a gut feeling about them today seeing as my initial purchase is up 250% and I was fairly impressed with the congressional hearing I am very happy it paid off but I do understand I could have lost it all in one fell swoop. Thats why I don't gamble with money I cant afford to loose. Now at 1.6% interest that extra $1900 will do well added to my savings account. It all starts with the 38% gain, now it will continue to grow in savings until I have another gut feeling. Hopefully the law of attraction will once again be with me.

Congrats again on it paying off.

[Broken Arrow]

Good point indeed, sweeps!

[GrimJack]

They are already talking about receivership for AIG now - does not bode well for investors. The good thing is that there are so many 'money-men' looking for work that even if they fired the entire staff of AIGFP, the AIG branch in London that pretty much brought the entire financial system to (the brink of) collapse, and still find plenty of high-caliber bankers to do the work at a reasonable pay. (sorry for linking to Liberal/Progressive sites but it was where I found the info I wanted).

[Bernz]

I have not looked at getting into AIG as well although my sister and a close friend of mine both were able to get in at around $0.86 a few days ago. It's been going up ever since but I truly believe that it has a long way to go and it could go south as well....just my 2 cents.

[reptile411]

Very very true. It has gained very fast but it could go south twice as fast. I watched it go from 1.04 to 1.48 in an hour today then right back down to 1.20 in 5 minutes. I truly lucked out on this one. I would not recommend anyone take the risk I did. as I said it payed off for me but I am one example in millions that didn't pay off. AIG has just about rolled back the entire 1.6 trillion book on there CDS's and they do have many branches that remain profitable but in my honest opinion there name has been soiled for eternity. I for one will not wait for there stock to hit $70 per share again as I don't think it will ever happen.