AIG (AIG) is up strong yet again today, about 14%. What’s fueling this opaque financial stock-rocket?
It could be that CEO Benmosche indicated he’s in no rush to sell off some major business units. He’s patient to wait up to three years for a “fair price”.
Ostensibly this means he doesn’t feel the pressure to generate cash, so things must be great for AIG. Yet might Mr. Benmosche be swimming through negotiations as the classic duck on water? (smooth on the surface, kicking like crazy underneath).
Well, the market seems pleased at least. If you can credit Mr. Benmosche with anything yet, it has been his ability to sweet talk the market.
Hopefully the company’s actual financial situation ends up providing some substance behind his words.
Disclosure: The author owns shares in AIG.
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