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发表于 2009-9-15 01:11 PM
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Looks like u got to be careful of this one:
http://www.thestreet.com/story/1 ... mps-is-it-safe.html
Ambac, on the other hand, will lose money this year. Again, there is no dividend for investors, and, with a consensus analyst price target of $1, the stock is overpriced. It also has a beta of 1.66, but what gain is there for a company that's no longer writing insurance.
Through the release of $1.8 billion in reserves at the end of June, Ambac reported in August that it wasn't in breach of any capital requirements. Liquidity dropped from $178 million to $164 million in the second quarter, but Ambac reports that this represents 1.8 times the annual debt service requirement. Nevertheless, there is ample cause to be concerned about the long-term health of Ambac.
Both MBIA and Ambac are considered "sell" by TheStreet.com, and, although the decline started early for these companies, well before the market, a recovery is a long way off, if ever. That isn't good news for the future of municipal bonds, but if an AAA-rated insurer can step up, the market is wide open. |
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