Wednesday, November 09, 2005
A Missed Eliot Spitzer Opportunity
I wasn't paying attention and let this one get away. Eliot Spitzer, the activist but generally empty rhetoric NY Attorney General, brought an accounting case against Renaissance Re (RNR), a big reinsurance firm, and there was news about it over the last week. He managed to get the SEC involved too. As with all his other motions, there is next to nothing there, and the market has already recognized that. Would have been an easy $6 to $8 bucks. They have now resolved their management issues, and Goldman Sacks has upgraded them.
Woops.
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8:07 AM
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