I bought AGO.
music selection: “Kryptonite” — 3 Doors Down
I had some latent cash in my traditional IRA account and decided to employ it to insurance. Assured Guarantee insures bond issues, mostly municipal. They have a great 10 year average underwriting performance of 76.1. It is cheap, trading at a price to book multiple of .59. It should be a good multiplier of value over the years.
In other news, puts in Apple, Qualcomm, and Microsoft expire today. Apple will assign but QCOM and MSFT will expire worthless. I’ll be writing covered calls against the new Apple shares. I will roll the other two positions but will reduce the count of contracts.
Devour your prey raptors!