Gadda's Garbage Truck

Well, double take and take two on almost everything.

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Location: Salt Lake City, Utah, United States

I am an amateur investor, playing with a little money on the side, and trying real hard to make genuine sense of the macro economic conditions, the Markets etc. Important Note: The writer of this blog is an amateur. I invest and write for personal enjoyment. I do not recommend stocks. I offer free consultation but you must be responsible for your own investment decisions!

Sunday, May 01, 2005

AIG woes

Here is one statement from AIG's new CEO Martin Sullivan (Can't effectively blame him since Maurice "Hank" Greenberg was the CEO for a while) - "We are disappointed that we have not yet been able to file our Form 10-K," Martin Sullivan, AIG's new CEO, said in a statement. "We are working diligently to complete the filing, at the same time assuring we have accurate financial statements, rigorous accounting, greater transparency and thorough disclosure."

If Spitzer (it is obvious he is doing this for political gains - no one cares a hoot about the average investor - trust me - else he would not be running for Governor of NY) did not go after the Greenberg family - Maurice's son was the first CEO to step down from MMC. His brother is under investigation for running ACE - I wonder if we would have ever known anything was wrong with a DOW Component. Well, I as a skeptic would think that this kind of irregularity is widely prevalant - and will not be known until Spitzer makes new enemies or some one else decides to run for NY - i.e, it should suit someone's political gains. In short, we will know only after they know - and if we dont we are continuously being cheated. Its a lose-lose wager. Damn!

Anyways, it always brings me back to the way the great Warren Buffet invests - Your investment should be simple enough that you can understand. If you cannot understand it relatively easily, there is no point in investing in it. You will never marry a partner whom you don't know, would you? Insurance, for me is hard to understand. 'Nuff said.

Are oil prices being played in the current market? Let me know your thoughts if you read this post. I am planning on writing something on it once I get some time. Yes, I did not forget about GOOG yet!

Have a great start to a wonderful week!


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