I'm getting sick of this "fair value" nonsense, it's nearly as bad as the WA1 = $1323 per share lunacy.
Hmm yes, even when AIG was worth $0, it's fair value was $180 bn of bailouts? What about the $57 bn of unfunded liabilities?
Markets are efficient and tend towards market clearing but extreme EMH fanatics make a mockery of market (information discovery) processes, particularly with a critical asset with public (military) buyers. Of course, a process is also a better descriptor than a "mechanism".
It's Pangolossian, small-minded pettifogging in a dream world where Munger and Buffet literally cannot exist, but LTCM & that dangerous scoundrel John Meriwether is the cleverest fund manager in existence.
Don't debate me bro, I've said my piece.
General discussion, page-11735
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Last
$15.14 |
Change
0.310(2.09%) |
Mkt cap ! $982.0M | |||
| Open | High | Low | Value | Volume |
| $15.06 | $15.44 | $14.73 | $2.086M | 137.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 846 | $15.07 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $15.14 | 386 | 1 |
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| Last trade - 16.10pm 02/10/2024 (20 minute delay) ? |
| WA1 (ASX) Chart |