Hey Fred, what's your thinking about FRO... I also like the divvy, but they pay-out on the basis of short term profitability... the divvy is not always so high... Safe for now? What happens if they cut that divvy in half? I think FRO is much safer than Dry-bulkers...
Musk, world demand for goods is way down, and I think FRO stays down with it. They also have too much debt for my liking.
A buddy of mine sent me an e-mail on ACAS, and I spent hours this AM kicking its tires and could not find much wrong with it. It is paying a 28% dividend; there is a smart poster on the message board there, Ferdiefor, who I have run across before, and he says ACAS is best in breed.
They have enough to cover their dividend through 2009.
In addition, Citibank's trust preferreds were yielding 17% when I bought a nice chunk on Friday. Their symbol is C-V.
I like these yields and think they are safer bets than FRO's.
Honestly, ask Doc. If it were not for his conspicuous and energetic grudge against PBR, I would consider paying him for his investing advice. The short-term wisdom of the views that you and he shared defeated everything that I still believe about PBR and the oil sector in the long-term.