American International Group (NYSE: AIG) brought the world to its knees just a few years ago, and that's left a justifiably bad taste in most investors' mouths.
However, the company is too cheap for you to ignore today. Even after rising more than 40% in 2012, the company trades for less than half of its tangible book value. That's about 20% of its historic norm.
Even with the potential for tighter regulation, more scrutiny, and the likelihood of being labeled a "systematically important financial institution" (which comes with a shorter leash) AIG should handsomely reward shareholders, even if it returns to just a fraction of its former valuation.
