285:. Warren Buffett was never named in the case. Former AIG CEO Greenberg and CFO Howie Smith disputed in court whether the New York AG had the power to pursue a civil fraud case against them. The U.S. Second Circuit Court of Appeals has overturned the convictions of all five Gen Re and AIG employees. In mid-2012 they signed deferred prosecution agreements with the Department of Justice that acknowledged mistakes and misjudgments but not criminal wrongdoing.
31:
501:
from the database after
Schroeder refused to raise her estimate on Chubb to match that of other analysts, whom she disagreed with. Once other investment banks complained about similar experiences, First Call agreed to include a broader range of analyst forecasts in its estimates and better disclose
445:
calling for a division between MBIA's bond insurers' structured finance business and its municipal bond insurance side. Ackman published a report raising extensive concerns about MBIA's continued solvency. He gave
Schroeder's team an early draft and suggested they downgrade MBIA, but they initially
400:
lists of hardcover nonfiction best-sellers and remained on the bestseller list for more than three months. After the book's publication, Buffett reportedly stopped speaking to
Schroeder. He canceled the yearly dinner Schroeder hosted in Omaha at which she interviewed him before nearly two hundred
277:, five employees of General Re and AIG were also indicted in connection with an accounting fraud at AIG that overstated reserves in this and subsequent quarters, the accounting rules violated were those Schroeder oversaw as an FASB project manager. She testified as an
478:
spokesman Paul J. Browne retracted certain earlier information it had earlier given Alice
Schroeder on the number of banker permit applications, which was part of the basis for the column. Bloomberg has since re-published the column on its website in corrected form.
219:
in
Norwalk, Connecticut. Her projects focused on ending abusive insurance industry accounting practices primarily due to the use of finite risk transfer contracts, an issue which later became central to the criminal allegation faced by employees of
765:
360:. Schroeder felt this was not the right book and discussed another idea with Buffett, who offered to cooperate with her if she wrote a more comprehensive book. In June 2003, Schroeder, then a managing director at
769:
313:, which she covered. Afterward, Buffett approached her to become the first and only Wall Street sell-side analyst to whom he would speak. Schroeder then initiated coverage of the hard-to-analyze
497:' First Call, a research database which compiles the earnings estimates of Wall Street analysts to publish consensus earnings estimates for public companies, removed Schroeder's estimate on
951:
838:
370:
131:
1347:
985:
1367:
701:
374:. Schroeder spent approximately 2,000 hours with Buffett and interviewed 250 other people. Schroeder reportedly received a $ 7 million book contract for publishing
1109:
662:
1332:
577:
125:'s appointed biographer. Schroeder remains a widely-regarded insurance expert, having most recently served as a Non-Executive Director on the Board of
1248:
959:
679:
846:
814:
1372:
212:
143:
724:
1337:
597:
175:
1352:
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1024:
317:
in a widely-admired report. This was the first significant Wall Street coverage the company received. In 2000, Schroeder was hired by
136:
1362:
919:
322:
179:
446:
resisted. Schroeder and her colleague Vinay Saqi eventually responded to Ackman's report, partially acknowledging Ackman's thesis.
1166:
1011:"Buffett's career a battle of greed vs. principles, Q&A with Alice Schroeder, biographer of financial master Warren Buffett"
995:
869:
297:
insurance investment analyst for
Dowling Partners in Hartford, a boutique firm run by V.J. Dowling. In 1994, Schroeder moved to
1357:
783:
475:
271:
216:
709:
321:, where she was voted the #1 property-casualty insurance analyst two years in a row after having been ranked a member of the
545:
628:
329:
187:
1267:
933:
1202:
1148:
1119:
233:
204:
147:
259:
Accounting for
Multiple-Year Retrospectively Rated Insurance Contracts by Insurance Enterprises and Other Enterprises
466:
bankers, in a show of prescience about potential social unrest, had obtained pistol permits. In a
December 9, 2009,
519:
183:
83:
1287:
Christopher Oster and
Jonathan Weil (August 7, 2002). "Do First Call's Earnings Estimates Filter Out Bad News?".
894:
1046:
1272:
582:
489:
390:
687:
1327:
1167:"Is MBIA Triple A? A Detailed Analysis of SPVs, CDOs, and Accounting and Reserving Policies at MBIA, Inc"
1252:
282:
352:
In 2003, Schroeder has reported that an investment writer approached her to jointly write a book about
644:
1342:
357:
267:
309:
a letter requesting a meeting for her clients about
Berkshire's recent acquisition of the reinsurer
824:
1207:
442:
314:
225:
110:
1302:
Christopher Oster and Ken Brown (August 22, 2002). "First Call Changes Last Word on Earnings".
1227:
1133:
623:
417:
396:
1065:
601:
1010:
298:
109:(born December 14, 1956) is an American executive, financial journalist, and author who was
1032:
333:
magazine's "Rising Stars". That year, she was also named analyst/researcher of the year by
1114:
750:
Douglas Mcleod (January 9, 2008). "Analyst testifies AIG/Gen Re deal distorted reserves".
494:
411:
281:
about accounting for finite risk reinsurance at this federal criminal conspiracy trial in
208:
1087:
1198:
1152:
1028:
459:
361:
353:
318:
306:
278:
159:
126:
122:
118:
1173:
242:
Accounting and Reporting for Reinsurance of Short-Duration and Long-Duration Contracts
1321:
876:
471:
463:
274:
791:
1105:
1083:
990:
937:
406:
705:
498:
434:
302:
151:
327:
All-America Research Team for seven years. In 2002. Schroeder was voted one of
30:
1224:
Confidence Game: How Hedge Fund Manager Bill Ackman Called Wall Street's Bluff
986:"Q&A; with Alice Schroeder, biographer of financial master Warren Buffett"
310:
766:"SimoleonSense interviews Warren Buffett's biographer Alice Schroeder part 1"
455:
294:
155:
114:
98:
211:, starting in Houston. In 1991 Schroeder became a project manager for the
839:"Initiation of Coverage of Berkshire Hathaway by Analyst Alice Schroeder"
257:
94:
875:. PaineWebber Property and Casualty Insurance Coverage. Archived from
248:
842:
729:
546:"News Release: Alice Schroeder to retire as a Non-executive Director"
229:
171:
53:
250:
Accounting for Multiple-Year Retrospectively Rated Contracts (RRC's)
663:"Defense rests in fraud trial charging Gen-Re- AIG with deception"
365:
57:
578:"Dallas native Alice Schroeder tells Warren Buffett's life story"
819:
438:
221:
154:
accounting regulations. Since 2008, Schroeder has worked as a
502:
the factors that account for their differences in judgment.
1147:
Christine Richard and Katherine Burton (January 31, 2008).
870:"Berkshire Hathaway: The Ultimate Conglomerate Discount?"
1149:"Ackman Devoured 140,000 Pages Challenging MBIA Rating"
998:
on April 2, 2012 – via Everything Warren Buffett.
384:
was published September 29, 2008, and debuted at #1 on
1172:. Gotham Partners Management Co., LLC. Archived from
600:. University of Texas at Austin. 2008. Archived from
132:
The Snowball: Warren Buffett and the Business of Life
952:"TRV review of worldwide reinsurance awards winners"
815:"Yeah ... but what does Alice Schroeder think?"
368:
to research and write Buffett's official biography,
725:"Spitzer Loses Big While Greenberg Wins Once Again"
129:. In the first week of October 2008, she published
90:
79:
71:
63:
37:
21:
1268:"Are Goldman Sachs Bankers Really Carrying Guns?"
409:called it one of her ten favorite books of 2008.
571:
569:
567:
702:"AIG ex-CEO Greenberg eyes reversing NY fraud"
293:In 1993, Schroeder left the FASB to work as a
680:"Gen Re probes could bring more exec changes"
454:On November 30, 2009, Schroeder published an
270:was terminated from AIG at the insistence of
8:
674:
672:
199:Work for the Financial Accounting Foundation
1348:American business and financial journalists
1203:"The Mystery of the $ 890 Billion Insurer"
1088:"Janet Maslin's 10 Favorite Books of 2008"
29:
18:
203:From 1980 to 1991, Schroeder worked as a
1368:Women business and financial journalists
232:,. Schroeder's work included overseeing
1222:Christine S. Richard (March 29, 2011).
1066:"Buffett cancels event with biographer"
979:
977:
510:
425:one of the ten best books of the year.
337:, a reinsurance industry publication.
1247:Alice Schroeder (November 30, 2009).
433:In 2002, activist hedge fund manager
7:
893:Joseph B. Treaster (July 22, 2000).
813:Patricia Vowinkel (April 15, 2002).
645:"Brandon steps down as Gen Re chief"
520:"Business big shot: Alice Schroeder"
213:Financial Accounting Standards Board
170:Alice Lynnette Davey is a native of
144:Financial Accounting Standards Board
142:. As a project manager for the US
14:
1333:McCombs School of Business alumni
1266:Deal Journal (December 9, 2009).
1064:Leslie Wayne (February 3, 2009).
624:"GenRe/AIG finite trial coverage"
576:Cheryll Hall (October 28, 2008).
150:No. 113, a critical change in US
1251:. Bloomberg News. Archived from
868:Alice Schroeder (January 1999).
643:Sally Roberts (April 20, 2008),
895:"Noted Insurance Analyst Moves"
768:. SimoleonSense. Archived from
723:Ronald Shelp (August 5, 2011),
518:Costello, Miles (5 June 2013).
476:New York City Police Department
450:Goldman Sachs pistol retraction
272:New York State Attorney General
217:Financial Accounting Foundation
1031:. October 2008. Archived from
1025:"Q&A with Alice Schroeder"
1009:Tim Woods (October 20, 2008).
1:
923:. October 2001. October 2002.
188:University of Texas at Austin
146:, she oversaw the release of
598:"My Odyssey with the Oracle"
550:Prudential PLC News Releases
67:Author and insurance analyst
1373:21st-century American women
429:MBIA and Bill Ackman report
1389:
1338:American women journalists
1110:"Top 10 Non-fiction Books"
305:. In 1998 Schroeder wrote
184:McCombs School of Business
84:McCombs School of Business
1353:American business writers
661:Sam Friedman (May 2008).
28:
1363:American women essayists
984:Tim Woods (March 2009).
437:challenged bond insurer
174:, Texas. She received a
166:Early life and education
1304:The Wall Street Journal
1289:The Wall Street Journal
1273:The Wall Street Journal
788:The Dallas Morning News
583:The Dallas Morning News
490:The Wall Street Journal
468:The Wall Street Journal
391:The Wall Street Journal
1358:Women business writers
1047:"Hardcover Nonfiction"
920:Institutional Investor
470:blog post, journalist
324:Institutional Investor
301:. In 1998, she joined
1122:on December 11, 2008.
1086:(November 27, 2008).
462:stating that several
364:, began traveling to
283:Hartford, Connecticut
117:insurance analyst at
1255:on January 31, 2010.
1179:on September 1, 2020
1137:. December 29, 2008.
1108:(November 3, 2008).
772:on November 2, 2010.
665:. Property Casualty.
604:on December 22, 2008
493:broke the news that
358:corporate governance
268:Maurice R. Greenberg
1226:. Bloomberg Press.
1053:. October 10, 2008.
1035:on January 6, 2009.
690:on January 18, 2013
483:First Call estimate
341:Books and reporting
1092:The New York Times
1070:The New York Times
1051:The New York Times
899:The New York Times
827:on March 19, 2009.
752:Business Insurance
684:Business Insurance
649:Business Insurance
629:Business Insurance
403:The New York Times
386:The New York Times
330:Business Insurance
315:Berkshire Hathaway
256:EITF Issue 93-14:
226:Berkshire Hathaway
190:in 1978 and 1980.
178:in finance and an
111:Berkshire Hathaway
23:Alice D. Schroeder
962:on August 5, 2009
882:on July 17, 2011.
397:Publishers Weekly
289:Insurance analyst
247:EITF Issue 93-6:
121:and later became
104:
103:
48:December 14, 1956
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1278:
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1238:
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1201:(May 16, 2005).
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1186:
1184:
1178:
1171:
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1157:
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1144:
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1124:
1123:
1118:. Archived from
1102:
1096:
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1080:
1074:
1073:
1061:
1055:
1054:
1043:
1037:
1036:
1021:
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994:. Archived from
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958:. Archived from
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845:. Archived from
835:
829:
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823:. Archived from
810:
804:
803:
801:
799:
790:. Archived from
784:"Warren Buffett"
780:
774:
773:
762:
756:
755:
747:
741:
740:
739:
737:
720:
714:
713:
712:on May 19, 2012.
708:. Archived from
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686:, archived from
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552:. Prudential PLC
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299:CIBC Oppenheimer
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33:
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794:on May 19, 2010
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544:Kutner, Simon.
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499:Chubb Insurance
495:Thomson Reuters
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209:Ernst and Young
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107:Alice Schroeder
80:Alma mater
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16:American author
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1314:External links
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1233:978-1118010419
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1199:Bethany McLean
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1153:Bloomberg News
1139:
1125:
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1029:Meredith Maran
1016:
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934:"Rising Stars"
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474:reported that
460:Bloomberg News
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362:Morgan Stanley
354:Warren Buffett
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319:Morgan Stanley
307:Warren Buffett
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279:expert witness
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240:SFAS No. 113:
234:the release of
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160:Bloomberg News
138:New York Times
127:Prudential PLC
123:Warren Buffett
119:Morgan Stanley
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1253:the original
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1183:September 4,
1181:. Retrieved
1174:the original
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1142:
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1120:the original
1113:
1106:Lev Grossman
1100:
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1084:Janet Maslin
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1033:the original
1019:
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996:the original
991:Waco Tribune
989:
964:. Retrieved
960:the original
955:
946:
938:FindArticles
936:– via
928:
918:
914:
902:. Retrieved
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877:the original
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851:. Retrieved
847:the original
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734:, retrieved
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606:. Retrieved
602:the original
592:
581:
554:. Retrieved
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527:. Retrieved
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488:
486:
467:
453:
432:
423:The Snowball
422:
416:
410:
407:Janet Maslin
402:
395:
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385:
382:The Snowball
381:
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376:The Snowball
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371:The Snowball
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1343:1956 births
966:January 14,
904:January 14,
853:January 14,
798:January 14,
736:January 14,
706:Yahoo! News
608:January 11,
556:25 February
529:25 February
435:Bill Ackman
421:also named
303:PaineWebber
152:reinsurance
113:'s leading
72:Nationality
1322:Categories
956:The Review
506:References
335:The Review
311:General Re
230:General Re
140:bestseller
86:(BBA, MBA)
64:Occupation
44:1956-12-14
524:The Times
487:In 2002,
405:reviewer
295:sell-side
182:from the
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610:2017
558:2023
531:2023
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