Should try San Diego. It was a cold winter day here today (68 and drizzle) but next week sunny and mid 70's. It was also 70 on Christmas and it has NEVER snowed. Beaches 1 mile, airport 1 mile, SD Zoo 1 mile, deep sea fishing 1 mile (to docks 50 miles out to good fishing) Mexico 10 miles, mountains 50 miles, desert 75 miles, Snow skiing 150 miles. So much to do here you can do something different every weekend and never do the same thing twice.
I was just looking at this, but the more I look at it the less I like. So count me gone.
He jumps from board to board. Now he is posting all over the SDRL board. He said he bought his daughter a new car there too. Problem isn't parking. He keeps the cars in his pocket. Doesn't have any money; playing on a solar powered laptop on his parents porch in Brazil.
Sentiment: Strong Sell
Also important to note....The distributions are fully taxed like ordinary income. Not like the favorable treatment that regular dividends receive (for now, although Bama would love to tax them all this way). You or your tax preparer will also have to deal with K-1's.
The company published its unaudited third-quarter results on Wednesday after a more than two-month delay but failed to include a dollar amount for a write-down tied to its ongoing and wide-reaching corruption scandal.
Sentiment: Strong Sell
One thing is for sure...Oil is a finite resource and one only need to look at the work done by Dr. Hubbert and his famous Hubbert curve to understand this.
I am sure that oil will rebound, we cannot develop alternative resources fast enough to do anything about that. I am however unsure SDRL will be around long enough to be saved from the auction block. The earning from SDRL on 2.26 will in all likelihood be a pivotal point. It is their forecast and earnings that will be the only things of interest. No doubt scrubbed by the lawyers. Earnings will be good; forecast will be bad.
For the longs who have stood by this co, all the way down I hope you have learned what the market teaches. For the shorts I would advise NEVER TO SHORT ANYTHING unless it is done with a put. I would also covering some portion of them with calls before the earnings call, as insurance, You can't win or lose that way (other than the commission's, and yes I know that is substantial, but near dated calls are cheap).
I am neither long or short....I am FLEXIBLE.
That is news....But no indication of what projects? And if day rates are in the $500K per day rate it may not be as huge of a slash as it indicates by the $. If all follow a similar path the $ per barrel will go up. It will however take a while as no one is going to cap a producing well at this time, especially 3rd world contributors.
I was just looking at this and it tool a while to add up all the dividend (actually royalties that you have to pay regular income tax on, I think?) and I came up with a $3.566 payment (so far, another due soon, but who knows) and that = a 17.83% return so far and another should be due soon, but the way this pays I can't tell...All over the place. Any help understanding frp, amy gray beards out there would ne appreciated.
Also with interest rates at an artificial low I am a little insure about investing here. Plus this probably requires K-1's also... I think I am talking myself out of this......
I think he has given enough abuse and also suffered from it. He has gone to other boards to spread his insights and that's okay with me. I had him on ignore and just seeing he posted something got me mad, even when I didn't read it. Just seeing that grayed out name was upsetting. So back to the business at hand. I declare the bashers winners by default.
San Diego gets about 9" of rain per year, less in the drought. Annual temp 72F. Sunny days 325. The beach (50 miles of it) 1 mi, MX 10 mi, mountains 50 mi, deserts 75 mi, and sooo much more.SEATAC is beautiful to fly into. Looks like a green carpet, on a clear day, but I'll take San Diego over anyplace else.
I went to Bejeng in 2009 and the tour guide told me what properties were selling for and a 2 br 1 ba condo on a floor less than the 7th floor (7+ gets elevator service) was selling for $250K! I could not believe it. I was shocked and asked how they could afford that,, She said typically a family of 10~15 live there including grand parents and grand children. We talked about wages and she explained they are not as low as you may have been lead to believe. I told her about the stories I had heard about China as a kid and she told me she had heard the same thing about America when she was a kid. Eye opener.
If you want a SAFE dividend and want to be in oil buy a trust like PER (there are several other good ones someone else here suggested LINE, but I haven't had a chance to go through it yet). I bought a couple weeks ago for $6.20 and it pays over 40% and is secured by OIL in the ground. These have been beat down too but you are investing in an actual oil well field. If you think oil will go up in the next 18 years invest in one of these.
Two things they pay a royalty that you have to pay ORDINARY income tax on and the royalty will probably be cut to somewhere near 1/2 over the next 12 to 18 months (they have expiring contracts for their oil many at $100)
But as the price of oil goes back up so will the share price and royalty. Much safer bet on oil on the long term side than any of the drillers (IMO).
Selling puts can be a very dangerous strategy, if it drops below the strike price it is the same as selling short and there is no dividend.Yahoo is out of date.
Tyler, like you I do not feel oil will stay here forever and I did buy some oil wells similar to LINE. But chose PER instead. I looked at LINE and saw they recently had their royalty cut in half. The same will happen to mine as the hedges get renewed, but I get a few quarters at the higher rate and that will pay a part of what I paid. LINE pays monthly and Yahoo is reporting their royalty as if it was quarterly so it looks better after that discovery. Will look further in the AM.
I can guess what he said, he is on my ignore. I did buy last summer and only started posting when it was well in the black. I rarely posted anything before I got caught up in this soap opera. Someone posted "Don't fall in love with a stock". Good advice, and many here are acting like jealous boyfriends who have been cheated-on or attacking others to justify their failing positions.
I would never need to cover a long position in SDRL, that is simply not a possibility. I seriously think they will end-up in the trash can eventually. Just a matter of time.