No. of Recommendations: 6
Chubb Chairman and CEO Evan Greenberg sits down with 'Mad Money' host Jim Cramer to talk the insurance bull market, Berkshire Hathaway's recent investment in the company, the impact of climate change and more.
Read in CNBC:
https://stocks.apple.com/AaZmM_RYsS5qSes7y3iL0EA
Enjoyed watching this.I know I may be suffering from confirmation bias, since I am mistrustful of Evan Greenberg and his father. Buffett also knew the father well and admired him. After the government had to bail out the bankrupt firm in 2008, he stopped expressing such enthusiastic support; subsequently, AIG sued its former CEO (Greenberg) for having set up a side company (Starr) through which he had funneled $4b into his own account.
But I have to agree with WEBspired, what Greenberg says in this interview are fine. The only negative things I can say are:
(i) It's Cramer, after all - fawning and pathetic as usual. Just one example (quoted from memory): "What is it about Chubb that makes people say, they will pay out if I have an accident, as opposed to other insurers?" Seriously? Who says this about Chubb? And do people really doubt whether insures like Allstate or GEICO or Progressive or State Farm will honour their contracts?
(ii) What reputable CEO would even talk to Cramer, if it's not just to boost the share price?
(iii) I don't know why Greenberg gives me the shivers, but he does. My spidey sense says stay away from this guy. I could well be wrong.
That's all I have. I think he performed well, but I suspect that it was a performance, but I have no factual basis for my suspicion.
