On Tuesday, December 11, 2012 the US department of Treasury announced their final disposition of AIG shares for a nice profit. In early September 2012, we cheerfully gave the government a “That a boy!” for their patience, confidence and acumen.
Here are the final numbers from the Department of Treasury.
What we like about this situation is the following:
- A company was saved along with many jobs (bear in mind when a company goes down, a lot of peripheral companies fall too)
- Money was made for the US Government…again well done!
- At its core, buying during crisis times works for long-term investing i.e. buy low sell high (so hard to do)
Of course there are negatives to this story, but we will let others explain this as we are taking the high road on a delightful pre-holiday Friday!
Lastly, while we disagree with Big Bernanke’s additional Juice announcement on Wednesday December 12, 2012, at least he kept the bazooka in his bag. Quickly they just agreed to extend what the FOMC is already doing, such the yawn by market participants (they are just getting more of what they already have…nothing new.)
Have a Great Friday and a super weekend!
PS This weekend brings our family Holiday party a bit early for scheduling reasons…the kids love the multiple santa appearances/gift giving ! (parents….not as much..haha)214-706-4300 http://www.jkfinancialinc.com 8222 Douglas Ave # 590 Dallas, TX 75225