'You got the stock on sale yesterday for absolutely no basis. This is why all the insiders are buying,' says William Blair analyst Nick Heymann.
's investment strategy years before the ponzi scheme was exposed, also said he conducted the research into GE at the behest of a hedge fund, which he refused to name.
"If this was announced in 2016 or 2017, it would be a very different, real, substantive pulling back of the covers," argued Heymann. In January 2018, he pointed out, GE's long-term care insurance unit had to boost reserves by $15 billion. Markopolos claims another $18.5 billion of insurance loss reserves are needed.
"The immediate liquidity of the company — unrestricted cash, revolving lines less commercial paper outstanding — is over $60 billion. That's write a check," Heymann said. He added that GE would be getting $21.4 billion in the fall from the BioPharma sale, and could sell its health-care unit for about $46 billion and the rest of Baker Hughes for $5.5 billion. "That gives you a $133 billion of intermediate-term cash liquidity to address an $18.
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