“The Market Looks Fine. Why Are So Many Stocks Getting Crushed?”
AFG trades at historically low adjusted book value; fundamentals are strong and key asset risk resolved.
For example, Assured Guarantee, a municipal bond insurer , if you look at its adjusted book value ratio, it's trading at one of the cheapest levels I 've seen. The only real exception might be during a financial crisis.
The basics are very good. Really powerful. One of their biggest assets that they were worried about has undergone restructuring, and I don't think they will lose any money in that process.