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Star Bulk Carriers Corp. Message Board

  • timepassestime timepassestime Dec 15, 2011 5:17 PM Flag

    I am still buying...

    I like the price. Began entry about 20 cents ago, and plan to continue adding if it drops further...

    My guess is that the Principals are planning to ride the storm out...banking is all outside Greece...2012 cape charters locked in give big advantage...short-term on the supras may work to our advantage...

    The CEO hinted in late Ocober that he is working on a deal to expand by buying or managing additional assets in 2012...I like his confidence and his background in markets...I also like his confidence and personal touch...

    Institutional buying this quarter...

    It seems the cash and ships are worth much more than liquidation if SBLK went BK today...

    I am not even sure the loss of dividend is a certainty...as such, it also seems that panic is overtaking logic and patience...

    This is a bargain IMHO...it will be a bigger bargain if it drops further...when it springs back in a week, month, year or two, I'll look back at the day I bought for under a buck with great joy...I'll enjoy the return on my $$$ when I am old...

    keep selling...I will keep buying...wish me luck...

    all IMHO

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • "greedy only when others are fearful."
      "if things seem too good to be true, they usually are"

      which is true in the case of SBLK?

      I am often wrong, but I do not think there is a leak of bad insider info...

      There is not a great short interest here...

      Hence,I think this is fear...fear of a lost dividend for a few quarters...fear that bulk demand will never fully come back...fear of ship oversupply...it seems nobody but me, institutional buyers, the market makers, and a few other fools are willing to buy now...

      some think BR, but I don't see it...

      some think 50 cents will be better...I just see yesterday as a washout bottom...

      some will buy on the way back up...sure

      some cannot think past tomorrow...

      heck, some have already begun to panick...I have a rich friend that stopped investing and started collecting $1 and $5 in his home, because he thinks nobody will give change for gold or his larger bills if the electronic system collapses...

      It ain't deflation coming...more likely inflation...or recovery...and this company has hard assets...bulk rates will come back...

      wish me luck...I am just posting this in order to get the huevos to buy more...BTW, all IMHO

    • more today...thank you sellers...

      wish me luck...GLTA

      • 1 Reply to timepassestime
      • Good Luck, I am done buying. Hard to believe it's 90 cents. Especially with 65 million cash in the bank, and the last two Supramax's being l;eased for better than expected rates and the rest on good long term leases. The cash flow here is very good, the debt refinanced and easily serviced. The dividend safe according to everything management has stated in the last 3 months, just paid again in December....

        Only thing I can think of is irrationla fear of GEEK crises. The realuty is the only thing Greek here are the owners and the fact that it's incorporated in Greece. All the business is conducted outside of Greece, the financing is done outside of Greece through non-Greek banks in the Netherlands, and the ships continue toi generate cash and the company's assets now far exceed it's market value...

        what gives is right!

        is it just irrational fear couple with December tax loss selling?

        Only the arrival of January will tell.

        Anybody have any other ideas?

        thanks in advance.

        ;^)

    • Me too. You can go right to the website and get up to the day charter information. That is transparency. It is highly likely that SBLK will flow plenty of cash to pay the $$35M due in 2012 and still have money to pay some amount of dividend, even if it is cut.

      Those that argue that SBLK should not pay dividends out of depreciation are wrong. The decline in market value of the ships has already been discounted in the stock price and depreciation is simply a reflection of that decline that is already priced in.

    • Well, I'm not sure if we make it through the next two years or not. The latest contract is really thin on margins in the best case scenario.

      Its not looking good in Europe and SBLK is small - no bailouts or special lending terms will be available - if anything we may find lenders want the hard assets rather than the loans.

      While I obviously hope my investment in SBLK bounces back I am somewhat resigned to the fact that this may go to zero in 2012 or 13.

    • Good luck! God bless!

 
SBLK
4.18-0.44(-9.52%)11:49 AMEST

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