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Ship Finance International Limited Message Board

  • marklibera marklibera Feb 21, 2013 10:43 AM Flag

    OT: Morning tidbits

    Someone mentioned Berry Petroleum the other day and they are being bought by Linn, but Linn is using the LNCO stock to purchase the shares.

    Cramer is a pumper but sometimes he actually makes some good comments from his hedge fund days. this morning he mentioned that hedge funds play growth stocks for momentum but when that growth slows or disappears, they leave. He mentioned this in response to a discussion about Einhorn's issues with Apple. Apple was the most owned stock by hedge funds last year (now it is AIG). I like Einhorn, but even the best hedge fund managers can make a bad bet every now and then.
    Cramer also mentioned something about the copper stocks and there were stories about China removing liquidity.
    The market does not seem to care, but things in Spain, France and Italy are worsening (again). Nothing that a little more printing won't solve (joke).
    The Fed minutes revealed that there is some concern about removing the stimulus, but the voting members are all doves and history shows that they are never ahead of the curve. I expect the printing to continue and these "doubts" about it ending are premature. Of course, this will end badly. The unemployment claims numbers are back up after they were "estimated" to have declined. Rising gas prices and the resumption of the full payroll tax may be taking a toll, but that just means the prinitng can't stop. There also was a note about Medicare reimbursement rates being set much lower than predicted by the sector.
    Finally, there's been a lot of merger announcements. That is usually the sign that the market is in its last leg up. Maybe one correction and one more push up to the old highs.

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    • mark,
      I've had Berry on my watch list and have had an order in to buy, hoping for a dip. I came close, but how can you anticipate a buyout. The next several weeks might be a good time to buy and hold a basket of Berry-sized E&P stocks. I got lucky with that about a decade ago when I bought a basket of 6 domestic natural gas producers... four of them got bought out... Barrett, Louis Dreyfus, Burnlington Resources and later, Cross Timbers (later known as XTO) which ended up being bought by Exxon. Again, better lucky than good.

      GLNG is up some today, but could drop further if there is this correction thing. Anyone who has no GLNG should take a look.

    • mark..Linn (LINE) ,who is buying out Berry Petroleum, has already stated they will increase their distributions by over 6% and it is also rumored that LINE may go to monthly distributions....a lot of stocks are on sale and there is some interesting stuff going on...! $tagg...!

      • 1 Reply to staggman99
      • Berry was a nice little oil (mostly) company when I owned it. Paid a pretty decent dividend too. Then the natgas thing got underway and they started to go for gas instead of oil with the E&P investing dollars. That was a fateful decision. Now they have more gas and less oil, exactly the opposite of where they should be, and they have low gas prices to contend with. Still a very good company as far as the capital structure... I think.

 
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