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Love Smoking Crack? AND Investing? Allow Me to Introduce…AIG!

By Ilene
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Love Smoking Crack? AND Investing? Allow Me to Introduce…AIG!

Courtesy of Joshua M Brown at The Reformed Broker

Love smoking crack?  Love investing, also?  Well now you can combine two of your favorite activities, enjoying both at the same time!

How, you ask?

Simple!  Allow me to introduce you to…AIG, the former insurance company stock that now exists purely for trading purposes:

aig

AIG 10 day chart

Here’s a “stock” that for any reason (or no reason at all) on any given day can, should and will be up or down by 10% or more.  You can set your watch to it.

I have no idea what this stock actually is…does it actually represent a business or just the stub of an 87% government-owned business?  Is it a commodity?  A lotto ticket?  A trading vehicle?  Is it bigger than a breadbox?

Is there any rhyme or reason whatsoever to this stock’s gyrations or are we simply witnessing  the largest-scale tug-of-war match in history?

If it is a real business, shouldn’t we wonder why exactly it’s market value should fluctuate by 30% + on a bi-daily basis?

Oh, and the best part?  Whether you like it or not, if you’re a US taxpayer, you’re a shareholder in this nonsense.

Enjoy!

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Note: The material presented in this commentary is provided for informational purposes only and is based upon information that is considered to be reliable. However, neither PSW Investments, LLC d/b/a PhilStockWorld (PSW) nor its affiliates warrant its completeness, accuracy or adequacy and it should not be relied upon as such. Neither PSW nor its affiliates are responsible for any errors or omissions or for results obtained from the use of this information. Past performance, including the tracking of virtual trades and portfolios for educational purposes, is not necessarily indicative of future results. Neither Phil, Optrader, or anyone related to PSW is a registered financial adviser and they may hold positions in the stocks mentioned, which may change at any time without notice. Do not buy or sell based on anything that is written here, the risk of loss in trading is great.

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