RDC was absolute rubbish! Nearly lost my shirt but made back my losses thanks to Ultimate Stock Alerts (find them in Google)
sorry for the double negative, which is a positive for the stock hee hee. RDC one of the most undervalued stock in the energy space.
I'm hopeful we've almost seen the last of the teens. It wouldn't surprise me to see side-ways movement for another 12 - 18 mts with another possible 20% dip ... and then when ~ everyone has finally given up on it, it will go to $60 in a relatively short period.
But there will be signnificant upward pressure over the next 18 mts cause if the shr price stays as it is then rdc will have a lot of cash to buy back shares and force the price up.
RDC almost gave me a heart attack, what a disaster? What would I have done without Ultimate Stock Alerts (do a Google search for them)?
I can't remember the numbers exactly but from reading the annual report it looks to me like the book value of the 12 oldest rigs was ~ $840M and they wrote that dowwn by ~ £560M. So now their 12 oldest rigs combined have a book value of ~ $300M ... approx half the book value of one of their new drill ships.
It's all part of their game to become millionaires......the CEO picks his boys and the group sticks together as "good ole boy club" making millions while shareholders are the last to get anything, if anything is left. This is the way these companies work.....I've seen it happening for over 40 years now in this business.....
No one knew oil was going to $40 a barrel in 2013. Don't kick yourself for buying at what today looks like a high price. It sounds to me that you should double down over the next 6 months and wait a few years and watch what happens to an investment in a good company over time, especially with oil!
I like BP. They will recover with oil, and they are already at rock bottom. div is large, buys plenty of drip shares while you wait. I also like CRZO, they will recover large. Everyone is waiting for the new Saudi king to blink.