Hartford to Exit Annuity Biz

[SportsNut]

Hartford to leave the annuity and life business eff Apr 27th.

Apparently pressured by Hedge Fund investor, its largest shareholder.

 

[nathan.lee]

John Paulson flexed his financial muscle and the Hartford folded. The market's initial reaction seemed to apporve of the move as Hartford Financial saw about 4% positive movement but ended the day around +1.4%.

 

[bobson]

Isn't that amazing that one guy can exert that much pressure on a gigantic insurance company?

And the average joe thinks he has a prayer when it comes to investing in the stock market. The jokes on all of us.

 

[iceco1d]

Isn't that amazing that one guy can exert that much pressure on a gigantic insurance company?

And the average joe thinks he has a prayer when it comes to investing in the stock market. The jokes on all of us.

They have a prayer INVESTING in the stock market. They don't have a prayer OUTSMARTING or BEATING the stock market.

Every single CEO of a publicly traded company makes the lions share of their wealth by owning stocks (of the company they run). They have a vested interest in the share price going up. They don't bitch out like Joe America when the price goes down 20% and their net worth drops a few dozen million. Joe America gets spooked because he's down $10K this year.