Jan. 30 at 9:39 PM
$AIG The recent dump in AIG stock (down nearly 8% on the news) is a classic "uncertainty discount." Investors hate surprises, and Peter Zaffino’s departure was unexpected given his successful turnaround. However, the sell-off likely presents a buying opportunity because the fundamentals that Zaffino built remain intact. While Zaffino is retiring as CEO, he is moving to Executive Chair. He isn’t vanishing; he will still oversee strategic initiatives and digital transformation. His replacement, Eric Andersen (formerly President of Aon), is an industry veteran who helped grow Aon’s market value from
$35B to
$85B. This is a "continuity hire," not a pivot in strategy. I loaded the boat!