Should You Be Tempted To ‘Sell’ Ambac Financial Group (AMBC) Stock
Anabatic Fund recently released its Q4 2020 Investor Letter, a copy of which you can download here. The fund posted a return of -11.7% in 2020 (net of fees) compared to the S&P 500 Index which returned 16.3% in the same period. You should check out Anabatic Fund’s top 5 stock picks for investors to buy right now, which could be the biggest winners of this year.
In the Q4 2020 Investor Letter, Anabatic Fund highlighted a few stocks and Ambac Financial Group Inc (NYSE:AMBC) is one of them. Ambac Financial Group Inc (NYSE:AMBC) provides financial guarantee products. In the last three months, Ambac Financial Group Inc (NYSE:AMBC) stock gained 18.9% and on January 27th it had a closing price of $14.85. Here is what Anabatic Fund said:
Assoc. of Bermuda Insurers and Reinsurers Elects Arch Capital’s Grandisson as Chair January 7, 2021
New ABIR officers elected to Bermuda’s leading international insurers and reinsurers industry association are:
Chair Marc Grandisson, CEO of Arch Capital Group Ltd.
Deputy Chair Pina Albo, CEO of Hamilton Insurance Group Ltd.
Second Deputy Chair Christopher Schaper, CEO of AIG Re.
Past ABIR Chairs Albert Benchimol, president and CEO of AXIS Capital; Kevin O’Donnell, president & CEO of RenaissanceRe Holdings and Stephen Catlin, chairman and CEO of Convex also serve as ABIR officers.
‘I’m energized to advance ABIR’s international mission and look forward to working with my fellow ABIR member companies to promote the Bermuda re/insurance market’s interests around the world,” Grandisson said. “I’d like to thank past ABIR Chairs for their tremendous service in the public policy, education and advocacy for the Bermuda market. Ber
Lowest muni bond yields aided COVID-19 recovery
State and local governments, including Illinois, can reap the benefits just when they need money most.
MATTHEW A. WINKLER
Mariano Mantel/Flickr
(Bloomberg) When the coronavirus pandemic struck the U.S. in early March, among the first reported casualties was the $3.9 trillion market for states and local governments.
The yield on municipal debt sold by almost 2,000 borrowers with more than 55,000 outstanding securities hovered at 1.14%, the lowest since at least 1979, when the Bloomberg Barclays U.S. Municipal Index began compiling data. But panic suddenly seized investors, and prices suffered their biggest weekly decline in 33 years, with insurers MBIA Inc. and Assured Guaranty losing more than a quarter of their value.