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AA AAPL ABB ABK ABX ACAH.PK ACAS ACI ACMR ACS ACWI ACXM ADM ADP ADVNA AEBZY.PK AEM AEO AET AFFM AFN AGG AGII AGO AGPPY.PK AGU AHL AHR AIB AIG AINV AIXG AKBTY.PK AKNS AKS ALD ALL AMAT AME AMR AMZN AN ANDE ANR APA APC ARP ARTC ASFI ASIA ASTI ATAAF.PK AU AUREF.PK AUY AVID AVR AVX AVZA AWH AXL AXP AXS AYR AZ AZO BA BAC BAGL BBY BCE BCPC BCS BDK BELFB BGC BGP BHI BHP BHS BIIB BIK BJS BK BKS BKUNA BLL BMBSY.PK BND BNPQY.PK BNS BP BRK.A BRK.B BRO BRS BRY BSC BSET BTE... 
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  • The Emperor (Mr. Ackman) Has No Clothes
    Well, are you really so naive to think that Ackman ever believed the stuff he was telling the public day after day? All he needed to get done was to create enough fear and panick. Not to be right with his claims. I would certainly not be surprised to learn that he actually was now long the monoliners.
    That being said, the picture is not as rosy for ABK and MBi as you might think. They will be able to deal with their mistakes in the CDO business, sure. But their main business was insuring muni-bonds and if you look at the precarious state of the us economy and the quick deterioration of federal and municipal budgets (collapsing tax revenues!) this spells lots of trouble. I am cautiously long mbi/ABk, mostly senior debt, but expect substantial deductions from current book value estimates over the next 4-5 years.
    Aug 11 07:02 am |Rating: 0 0 |Link to Comment |View article

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