I don't quite agree with you. I feel Pete is a much better guy than other jokers at CNBC. This guy is right most of the times as he talks about fundamentals but stoks are so unpredictable. Don't you notice big analysts upgrade a stock on a given day keeping in mind the fundamentals and then within a day or two that stock starts falling along with other stocks in this horrible market. This is a problem, the market situation is so bad that it takes down all (good and bad) stocks with it but people should realize the companies with strong fundamentals bounce back hard with such pull backs. Secondly no matter how good the company is, its stock can not go up for ever. I may be wrong but this is just an opinion.
Pete appears to me to be primarily a trader. Perhaps thats why the show is called fast Money. Some of his suggestions re option hedges are quite useful. Of course some of his calls have been wrong. The only way I have found of never being wrong on a particular stock is to NEVER make a prediction. The basic idea of investing is to do so in such a way as to make a reasonable profit even if 1/2 you're picks are wrong. The real question for me is what is likely to happen to Charter rates over the next 18 months. Right now inflation is becoming a problem in the U.S.,EU,China and India. At the same time both the U.S. and the EU are facing a slow down or a recession. I suppose it is possible inflation could become a more serious problem in the near future. This should mean that the prices of coal, grain and ore will rise. Will that lead to reduced demand and therefore less cargo to ship? Well if China and India continue to grow it would seem demand will not shrink. While more ships are scheduled to come to market in 2009 and 2010 everything I read indicates there will be significant delays in delivery. This should cause the BDI to stay elevated or rise even more. If that is true EXM should outperform the market. Even if I am wrong we are getting a pretty good div. while we wait-a hell of a lot better then the 2.8% the money markets are paying. Also by going long and selling calls one can up the total annual yield to about 20%. My only concern is will management be shareholder friendly in spite of the super voting shares which gives them absolute control?????????
Najarian is Ok ,Exm is very good oompany and business is booming ,but there are some dark forces who are playing this game , I am long and losing to much.I know is not easy.I also knew that Exm and almost all shippers are thechnicly weak , but the most important thing is Companies FUNDAMENTALS .Soon or letter the trend will change.It also depanse the market condition wich is BAD now.If we survive upcoming weeks ...the rally is coming and the main reason for that are NOV 2 election.Sadanly things would be bright again.Oil will pull back $10 $15 dollars making BIG noise and Banks problems almost over.Some legal criminals are playing this game for long time.Wall street has the script and nobady can change it.But again ,the most important thing is Fundaments.All BIG ivestores #1 rule.Exm would be $75-80 in 12 months. #2 Company is paying very good divident now..4%+