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Thursday, August 6, 2009
The House that Greenberg Built
Yesterday, 134 million shares of AIG were traded when the average volume is 13 million. While I can draw some conclusions on why this happens, the truth is I really do not know why Firm A put an order for 30 millions shares, maybe light track, good breakfast, school is about to start who knows. Many investors saw the better than expected results from Radian and might have speculated the AIG would correspond likewise. However, investors are only paying for ownership in 21 percent of those earnings. However, given that I cannot predict the future I will watch from the sidelines and jump on the bandwagon of the winning side.
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