09 Nov ADD: AIG WARRANTS
ADD: AIG WARRANTS (AIG.WT)
NOVEMBER 9, 2018, (TRYING TO) BUY 3000 WARRANTS OF AIG @ USD$9.10
Today I (TRIED TO) purchase 3000 WARRANTS of AIG INSURANCE. AIG is one of the world’s largest insurers. Over the past few years they have un-reserved against their policies and have had to correct this, multiple times, over the past few years. Investors hold their breath every quarter for further adverse developments on their policies. Q3 earnings were somewhat disappointing, however, there were no reserve surprises and the business overall continues to throw off tons of cash. My warrants allow me to buy AIG common shares at $43 per share at anytime over the next 26 months. The current share price is $44/shr. So, should the AIG common shares trade at $44 in 26 months, these warrants won’t have a lot of value. AIG book value is currently around $55/shr and I believe we will see $70/sh.
NOTE: THE AVAILABLE FLOAT IS SMALL AND AS SUCH, IT TAKES SOME TIME TO PURCHASE THESE WARRANTS. I HAVE A BID IN JUST OVER $9.00.