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Swift Energy Co. Message Board

bobacequ 12 posts  |  Last Activity: Sep 12, 2014 11:49 PM Member since: Nov 29, 2007
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  • bobacequ bobacequ Sep 12, 2014 11:49 PM Flag

    The whole problem with SFY is, I repeat is, buying and selling assets.Terry Swift usually pays 2 to 3 times the worth of the assets he buys and sell at distressed prices when his debt is so high that bankruptcy looms. He has done this for over 10 years now and the company debt is reaching into the stratosphere. The shorts are circling in for the kill and Terry is totally oblivious.

  • bobacequ by bobacequ Sep 8, 2014 10:57 PM Flag

    In the latest quarter, Swift reported earnings of 16 cents per share after deductions of three dollars per share in depreciation and amortization. Hence cash flow was over 3.00 per share. If multiplied by four, it means the stock is selling at less than one times cash flow. On the surface, this would appear to be the bargain of the century. Yet the shorts increased their position against these numbers, Why? Are the shorts stupid? Not really. They have the greatest single thing going for them and that is the management of Terry Swift. During the quarter he burned up a lot more cash and now has a large deficit in working capital, And the shorts are well aware of the fact that while the company usually reported profits during the last eight years, they have neve paid a penny in dividends and thei book value is a lot lower than it was eight years ago, depite having the sale price at super high levels. This is because Terry has a tendency to buy undeveloped properties at sky high prices, and then write them off, Terry inherited his position from his father and does not understand the value of properties, thus he can wite off 10 years of earnings in the properties he bought at rediculous prices. The shorts know that at his current level of earnings. say 50cents per year, will be offset by a writedown of about $15.00 per share in Eagle Ford, a property that Terry once again got carried away with when he paid three to four times what it is worth. Even if the company earned a dollar per share they will eventually write off any profits that the company can make in 15 years, And oddly, instead of conserving cash, Terry continues to spend hundreds of millions on projects that may earn two or three per cent and at the same time borrowing at 9 3/4%. This is why the shorts are so confident, Terry Swift is on thei side, At the same time, the board of directors are simply happy to collect their fees for doing nothing,

  • bobacequ by bobacequ Aug 26, 2014 12:37 AM Flag

    The only sure thing about this stock is that Massiminon and his hand picked board wii get all they can get. What he has done would be a crime in any other country, but in this country, theft by management and/or Wall St. is rewarded. The supid stockholders keep re-electing the very people who have driven them bankrupt. Massimino will quit only when there is not a single dollar left to milk the company.

  • Strange that the CEO was the former CFO of the company. He has not a clue at to what is happening. He made acqusitions like a drunken sailor run amok but for years now, no one has minded the store, Inventories keep climbing, now about seven months worth of sales, A disasterous situation totally out of control. He bragged like a crazy loon when he was making many stupid and overpriced acquisitions. Now begins the process of closing many of them; The closing has just begun with three closures th last three months. Coming writeoffs will be tremendous. Even a mild recession will accelerate the timeline of bankruptcy. The next recession is getting close and it may not be mild. Regardless of numbers, the quality of management is still the greatest factor in company evaluation. Frankly, there is no management here at all. They are all financial engineers and without acquisitions, are at a total loss.

  • bobacequ bobacequ Aug 16, 2014 7:19 PM Flag

    Times have changed. Years ago your brikerage compamy tried to get their customers the best price acting as their agents. Today, the brokerage houses play against their clients. often using them as cannon fodder in their personal trading. This is all with the approval of the SEC which is as crooked as any agency has ever been. Since the New York Stock Exchange ceased as a private club, there are no more rules of ethics. Thirty years ago I said that the NYSE was the only honest entity on Wall Street, Now that it is no longer a private and honest club, everything on Wall St. is crooked, all with the suppor tof the SEC .While Obama and all the other politicians look the other way, only Elizabeth Warren, Senator from Massachusetts, speaks out against this.

  • Reply to

    New Report - KEP to double - PennyStocksWeekly

    by gustuvwill Jun 18, 2014 2:30 AM
    bobacequ bobacequ Aug 5, 2014 6:34 PM Flag

    PennyStockWeekly is a total fraud. These people are manipulators and should be in jail. Where is the SEC in these matters?

  • bobacequ bobacequ Aug 5, 2014 6:29 PM Flag

    PennyStocksWeekly is a fraud and these people should be in jail. Where is the SEC in this case.

  • bobacequ by bobacequ Jul 31, 2014 8:21 PM Flag

    He may have been too stupid to run COCO much less any company, but Massimino has taken care of himself. As the stockholders lose everything, Massimo, by siphoning MILLIONS and MILLIONS and MILLIONS and MILLIONS and MILLIONS of dollars out of the company can now afford to bu an eighty room mansion,a 200 FT. Yacht three summer homes, two winter homes travel the world first classetc. etc. etc. In any other country, he would be serving a 30 year jail sentence,

  • Reply to

    Expansion underway

    by tab3317 Jul 23, 2014 11:03 AM
    bobacequ bobacequ Jul 30, 2014 4:10 PM Flag

    Also, US Steel which buys their pipe has recently closed two of their own pipe making facilities. And oTrinity Industried, one of their largest customers, has a soaring backlog. FRD will explode with higher sales and earnings starting later this year. Next year will be great, much more than sleeping investors realize. Ans FRD is a rare company in their incredible honesty, one of only a few companies run only for the benefit of stockholders,

  • Reply to

    New Report - SKYW to double - PennyStocksWeekly

    by foth.dennis Jun 21, 2014 4:30 PM
    bobacequ bobacequ Jul 19, 2014 8:28 PM Flag

    #$%$ they ought to put these "penny stock weekly' guys in jail

  • Reply to

    New Report - CUO to double - PennyStocksWeekly

    by davefubus Jun 13, 2014 10:57 AM
    bobacequ bobacequ Jul 14, 2014 7:58 PM Flag

    #$%$ #$%$ #$%$ Penny stock weekly is a fraudulent scam

  • bobacequ by bobacequ Jul 5, 2014 9:32 PM Flag

    Shareholders love this guy, even after he was quoted "I will milk this baby for all I can get". Even though he and his hand picked board siphoned tens and tens , perhaps over one hundred million dolklars out of the company.shareholders kept reelecting him. And now the shareholders are very happy that he and his hand picked team will reap many more millions in their golden parachutes. A pure case where love of Massimino overruled money. Maybe not all of them, but most of the shareholders were content to lose money provided that massimino would continue to get rich. Very strange group of shareholders.

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