This is the Yahoo! Message Board about TBS International Ltd. (NasdaqNM: TBSI), where you can discuss the future prospects of the company and share information about it with others. This board is not connected in any way with the company, and any messages are solely the opinion and responsibility of the poster.
"Peripheral shipper? Look at QMAR and GSTL, and maybe EGLE again. They haven't fallen off near as hard as DRYS and DSX. EXM is another crappy one. The key is term charters v. spot."
Since you seem to follow the bulkers, do you have an opinion on Pacific Basin (Hong Kong)? They seem to have a policy of engough charters to cover fixed costs and the rest on spot (similar to what OMI does in tankers) for their almost entirely handysize fleet. Thanks.
Concerning correlations, it's my understanding (correct me if I'm wrong) that the BDI is weighted towards rates on the larger ships classes.
So far this board has value as good information is gathered and shared, something I think ought to be continued. Some commentary in that regard:
First, the correlation between the performance of TBSI stock is near .95 with its peers. Therefore it seems to me that signifcant evidence is needed to blame the neer term lack of stock performance on management. Furthermore, the TBSI chief executive owns a material amount of paid for stock. If we presume intelligence, I doubt that said chief executive would undermine his ownership position by exploitation for personal gain elsewhere.
You suggest here that past performance at another company should cause current shareholders worry. There is no question that the past often repeats itself, especially in the securities markets as well as the shipping markets. But, as I have often said, it is incumbant upon the successful investor to KNOW the facts, not speculate on opinions, assumptions and other tangental inuendos which likely have little impact on the current or future price. Since the subject you raise is very serious, we all would appreciate the commensurate serious evidentiary analysis that goes along with your warning, so that we may judge its credibility.