In preperation for their big investor Q&A call on Wednesday. Bruce Berkowitz of Fairholme Fund has put out two case studies discussing why he thinks AIG and BAC are undervalued. He basically thinks they are worth more than 2x their current respective trading values.
Enjoy. (Note if for some reason you can see both and you are using Internet Explorer switch to Chrome or Firefox and you will be fine).
120201 - Case Study I (With Disclaimers)
120201 - Case Study II (With Disclaimers)