MetLife (MET): Death by hedge funds

[Celebration]

http://www.bloggingstocks.com/2008/10/08/metlife-met-death-by-hedge-funds/print/

MetLife, Inc. (NYSE: MET), which is the largest life insurer in the U.S., got its start 140 years ago. But the recent couple weeks may have been the toughest as the stock price has plunged.

It seems MetLlife woes have just started, though, as the company announced Tuesday it has withdrawn its 2008 earnings estimates. As for Q3, the company expects operating profits of $600 million to $675 million.

At the same time, the company wants to sell 75 million shares to bolster its capital (obviously, this is something that's pretty dilutive in the current environment).

Interestingly enough, MetLife is feeling the pain from heavy investments in alternatives such as hedge funds and private equity. What's more, MetLife holds positions in losers such as Washington Mutual and Lehman Brothers.

Raising capital in this environment? I guess it *was* MetLife that Reid was talking about..................

[Alpharetta]

1. I'm paying close attention to this. Safety of annuities...

I am extremely interested in whether any guaranteed annuity ends up not being honored.

MetLife (via New England Financial) has a lot of these products.

[dixiegrrrrl]

2. My annuity was with AIG.

I got it out in 2007.

Nothing is guaranteed in this economy.