AIG's fundamentals have never been stronger. The EPS has never been higher, ever, and the P/E ratio has never been lower. There is a huge reverse head and shoulders on the chart which will put this north of 100 once the neckline is broken. Only one problem. Hank Greenberg has hired a professional trader to manipulate the stock price. Hank is still pissed that he was evicted from his office on Pine St. He holds over 300,000,000 shares and everytime the price reaches 72, he has the professional trader sell the shares to keep the price down. The reason being is to punish the executives at the company who evicted him. However, everyone knows this and they are going to try to over-ride the biggest shareholder of the operation. They have cut back costs at AIG in every corner of the building. Non-exempt persons cannot work overtime anymore. They even banned the delivery of parcels by express mail. When AIG reports, they will report big. This is something that I know. Then its a question if the volume after the call can overwhelm Hank's trader and then the price can run. If the truth be known, a good percentage of the volume everyday is from the trader hitting the sell button on Hank's shares.
How did you come by the concusion that "everyone knows this." I don't. So your conclusion is incorrect.
If AIG is going to take off it is not only because they are cutting corners at the main office but also because they are well positioned on a large scale in China. At some point it will show up in the bottom line. GC
Look closer. Starr International has 276 million shares and who is in control of Starr? Hank Greenberg. Read the article. I said everyone knows this and they do. http://www.businessweek.com/magazine/content/06_13/b3977081.htm
perhaps it isn't just a coincidence that the stock ended at exactly 72.00 today. from the article, i could tell his anger was deeply rooted. im taking the gamble... even though i know i probably shouldn't.
Hank's trader is out there. Look at this filing right when the stock hit 71 bucks. 400,000 shares all at once. 8-May-07 STARR INTERNATIONAL CO INC Beneficial Owner (10% or more) 400,000 Direct Sale at $71.22 - $71.27 per share. $28,498,000