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Performance driven ratings from Egan-Jones have “predictive value”.
When speaking at the spring 2006 Grant’s Conference Sean Egan predicted that GM would go bankrupt within the next 3 years.
Beginning in 2006 we warned clients about the mortgage companies, home builders and monolines and to sell or be short GM.
In 2002 and 2003 we warned clients that Ford and GM were far from Investment Grade.