Waiting on some positive news, page-20

What that movie "The Big Short" teaches us is that there are no shortage of crooks in business and government for that matter. The people who shorted the market weren't the crooks it was the banks and ratings agencies that setup the biggest ponzi scheme in history and the poor average people got sucked in.

With AGI I'd say Roger Montgomery is the ratings agency giving AGI a triple A rating when it was $4.79 making people day dream that it was going to hit $5 then $8 then $10. I'm guessing a lot of average people poured a lot of money in during those days I feel sorry for them. Now who are the banks here well I'd say AGI management I'm sure they all made massive profits selling their share options at high prices and getting big bonuses which share holders approved by the way. None more so than the CEO who sold all his shares at over $4 and only recently buying back a very token amount to pretend he's supporting the company.

Some people would argue what about Len he's the biggest shareholder surely he doesn't want to see the company go down hill right. Well Len is almost 100yrs old you gotta question how sharp he is. If he was sharp he would have sacked the current management long ago for incompetence and not allow the share price to free fall for over 2yrs. He's also a billionaire so for him losing a couple of million isn't really going to bother him but for an average person just losing a couple of thousand would hurt a lot. Sure you can keep blaming shorters for driving the price down but if you were so confident then put all your money in to buy AGI and push the share price up at the end of the day the price is determined by the number of sellers vs buyers if there are more buyers than sellers the price will go up. The price right now reflects that shorters have a lot more confidence than buyers.

PS. I'd much rather be a rich nerd than to be someone who got sucked into a ponzi scheme.