Tuesday, April 1, 2008

Hank Greenberg's Opinion


After Tuesday's market close at 4.35 ET in an exclusive interview with Maria Bartiromo on CNBC, Hank Greenberg, former Chairman and CEO of AIG, the world's largest insurance and financial services corporation, referred to today's market action as "a dead cat bounce" full of short covering. When asked if he would be a buyer here his answer was an emphatic "No" and to back it up he cited the high probability of more problems related to housing, BSC and other issues on the horizon. He does not share the optimism exhibited by other financial commentators.

It's gratifying to see that such a highly regarded financial luminary agrees with our take on the day and the market in general (see this morning's article, directly below).

3 comments:

Anonymous said...

Hank Greenberg is telling the truth because he may no longer be allowed to lie since he lied enough before he was forced out of AIG.

He was closed to being indicted in 2005.

The Call Team said...

Regardless of whether he's allowed to lie or not, we think he's hitting the nail on the head.

Anonymous said...

Greenberg is sort of a WS maverick, although he knows more about the markets than Jim Cramer 100%. Thanks for the heads up guys!