AIG has replaced Apple as the hedge fund industry's favorite stock after Apple's stock slid 20 percent in the fourth quarter of 2011 while AIG – infamous for its government bailout and the near-meltdown that helped to trigger the Great Recession – saw its share price rise by 7.65 last quarter. Hedge funds have reduced their Apple positions by 30 percent while simultaneously buying AIG, seeing it as a cheap restructured entity with lots of potential.
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AIG is the new Apple of hedge fund managers’ eyes: report
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Staff Writer
February 21, 2013 at 09:35 AM
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