MarketFoolery: 05.09.2011

MarketFoolery

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4.7 • 1.7K Ratings

🗓️ 9 May 2011

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

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Summary

Shares of AIG fall to their lowest level in more than eight months. Was the federal government's investment in the insurance company really worth the risk? And social networking site LinkedIn gets ready for its public market debut. Will its IPO conect with investors?

Transcript

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0:00.0	It's Monday, Monday, May 9th, and this is Market Fullery.
0:05.0	I'm Chris Hill and joining me in studio today from Motley Fool Asset Management Bill Mann,
0:09.0	from Hidden Gems, Andy Cross, and from Million Dollar million dollar portfolio Ron Gross.
0:14.0	Guys, happy Monday, good to see you.
0:15.5	Good to see you, Chris.
0:16.5	How are you? We've got another potentially hot IPO on the horizon, but we will begin today with a company we haven't discussed in a long time and that's AIG.
0:25.3	It was back in the fall of 2008 when Uncle Sam saved AIG by taking a 92% stake in the insurance
0:31.8	company.
0:32.6	Late last year when the stock was on a roll, a U.S. Treasury official said taxpayers
0:37.4	stood to make more than $20 billion in profits when the government sold its stake.
0:43.0	Bill Mann?
0:43.6	Well said.
0:44.4	Yeah, well back then, the stock was hovering around 50.
0:47.8	Yes.
0:48.8	Today, the stock is hovering around 29.
0:51.2	Stop hovering. So less than before.
0:54.0	Stop hovering and just started falling.
0:56.8	It hovers the same way that buildings hover.
1:01.0	How are those profits looking now?
1:02.4	Yeah, not so great.
1:03.3	And it really just goes to show that if you are a 92% holder of anything,
1:10.4	getting out is not easy because they've been talking about how to get the government out.
	...

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