thnx.........lots of valuable parts to this puzzle.......I am in for the long haul (and will hold all the parts I get) via common shares only........I'm sure you hold loads of shares, but I hope for your sake that you get a real nice run in the pps to goose your return from those Jan '15 options.......you are a gentleman and scholar on this board.
Missed the cc yesterday, but will read transcript when available. NMB, you suggest the writing is on the wall for ECAS. You figure they're going to go ahead and IPO it next year? I know you said they really couldn't just spin it off.
Yeah, at this stage it is hard to believe anyone would not see this as a buy-hold proposition. Now, more than ever, looking forward to the future (though I can't/won't add unless there's a silly dip).
Not all...........no way I jump ship........don't know about the four-bagger bit.......would like to trade out of the last 10K fairly soon though.........c'mon BDI, walk us up towards 2 before Christmas.
ACAS post split will be what ACAM is now.......at least that's how I read it........and I believe this was implied by management a long time ago on a cc.
......and maybe take a stab at NUGT later in the day (thanks audio for the heads up there)........kind of silly cheap, but who knows......maybe still get it cheaper.
may pop in to this board if pps goes goofy either direction, but more likely listening to ACAS conference call describing how they intend to bring the pps closer to it's stated BV (currently 20.5ish).........
Yeah Len, this process has been painfully slow..........that said, patience is a virtue and right now, what is the risk with ACAS.......pps? If one wanted a quick return out of ACAS, one needed to be around 4 years ago...........the existing risk is mostly just time w/o a return which for me (as I am not an options guy) is something I can tolerate..........esp. with short rates for other investments at near nuttin. Still hoping to be having a classic ACAS all involved discussion at the end of the day and into tomorrow about the announced changes..............but not holding my breath.
nice to see someone jumping in (other than just Georgie).
kem, you can see my post the day before the call I picked up 2K traders thinking they couldn't announce anything worse.......listened to the cc live and have never heard anything so refreshing in my life.........it was a masterpiece and though CLF still has issues Goncalves was utterly brilliant........DeNiro/Paccino stuff........sold the 2K on the pop the next day for four thousand bucks but still holding 7K with about an 8% gain.......and I will hold those cuz that 44% short position is looking a little more tenuous.........also started a nice long position in TCK-B (on TSX).......the sell off in these stocks is such an incredible opportunity and I am so right there.........unlike you though, I am staying put with DRYS now 50K shares at just under 1.80........10 of them will be gone if/when we get to 2.
That translates to a lot of cash coming in the door (granted a lot to ORIG) on a really lousy BDI and as audio has suggested, it also translates into a profit...and a decent one at that (of course that's pre-dilution). With tanker rates already around 30K (suezies) and likely to rise, it may soon be time to contemplate an IPO of that segment. No one can know for sure what the future holds, but would anyone be shocked at a big spike in rates for tankers during the winter months or the BDI taking off. The dilution hurt, though there would have been at least 100M shares added to retire the convert if the pps had of been $7. NAT, with 22 suezies is valued at 750M.........DRYS has 10 tankers.......what do you think the value of a spun-off tanker segment would be? This is absolutely NOT the time to jump ship. Sitting with a whole whack of shares with an average now of 1.7.............glta, won't post here again until Dec 31 and we'll see where we're at.
I don't think the pps will move much until there is some clarity on the direction of the company going forward. We all can watch and wait and buy some cheap shares because to me it is clear that the company is worth it's stated NAV at least. That said, I believe the market is not all that fond of uncertainty and that certainly abounds with ACAS. In fact, after announcing the re-org, we may get another buying opportunity as Mr. Market tries to digest how the 'parts of the sum' should be valued.
Hey blank......did read the 8K and saw about the layoffs which I assume is related to the reorg, but not sure what this all means..........and ACAS Funding LLC II........has that always been around?
Workforce reduction of about 13% also........kinda think we'll be reading lots of more releases from ACAS in the next few days.
dilution has occurred......there will be no bk and the market cap post-dilution at this price is still just the value of the undervalued share in ORIG........the rest of the co. at this price is valued at nothing........that, and the wall street game, is what you're buying into or jumping out of..........still loads of money to be made here......and the easiest will be on the upside before the end of this year..........all JMHO and yep, I could be wrong