American International Group, Inc.
Thesis
American International Group is improving its return on equity through share buybacks and increasing its asset to equity ratio. As the company's ROE mean-reverts to industry averages and the stock trades at a premium to book value, we believe it has the potential to be worth over $100 per share.
Did it work?
The pitch is a long thesis on AIG based on ROE mean-reversion via buybacks and leverage, with a target of over $100 per share. No price performance data is available and the time elapsed since the pitch is unknown, so there is no way to verify whether the stock reached the target or whether the thesis dynamics (ROE improvement, premium to book) played out. Without either price data or confirmation of the thesis events, no verdict on success or failure can be made.