you never short a stock, did you forget that? I could prove it but since you deleted most of your posts i cant, so are you calling me a liar?
a 25 dollar preferred share can only go so low, lets say they make preferred shares take a cut of 5 dollars a share value bringing the preferred share value at 20 dollars a share and buying them now at 3.75 is a bargain, its fear selling, also remember the greek government owns 80% of all the preferred shares, theirs probably 100 million preferred shares, only 10 million ADR preferred shares and a 5 dollar cut boost the banks Teir capital 500 million in value by a 5 dollar cut, this is easy money
also you can do a search, they only bought 60 percent of the shares, as not everyone would sell them at 12.50, so another share offering would be great
may of 2013, remember their isnt that many preferred shares,, May 31 National Bank of Greece (NBG) , the country's largest lender, has launched an offer to buy back its U.S.-listed ADS preference shares for a total of $281 million, it said on Friday.
The bank is offering to buy back up to 22.5 million American Depository Shares out of the 25 million outstanding for $12.50 each, at a 50 percent discount to their nominal value, an official at the bank said.
Each ADS corresponds to one preferred NBG share. The buyback will boost the bank's Core Tier 1 capital by 175 million euros ($228 million) if all of the securities are tendered, the official said.
The offer expires on June 28, with settlement expected on July 3.
NBG has not paid a dividend on its preferred shares since March 2011 and will not pay one for its 2012 fiscal year.
The guys on the NBG preferred share board don't want you to know how cheap they are. We did this with DRL preferred shares and made over 100% on our money in less then a week. Preferred shares can only be redeemed by a bank. These are 25 dollar preferred shares selling for 3.75 a share, last time NBG bought 60% through an offering of 12.50 a share but later jumped to 20 dollars a share. Preferred shares are safer then commons. Their isn't that many and volume is low but higher today, almost 150,000 shares traded. Ticker for the preferred shares are NBG-PA also do not pay attention to the 52 week high and low price, the 52 week high and low price is always based on daily high and low.
I like the new ID name you created on the NBG Preferred share board LOL, last tender offer was 12.50 a share and NBG bought 60 percent of them. Buying a 25 dollar preferred share at 12.50 reduces their debt. Sat they bought 10 million shares at 12.50 thats 125 million but the shares are worth 250 million, it reduces their debt by 125 million, and theirs not many shares left. The preferred shares dropped 6 dollars a share in 2 weeks time, it would have been great to buy in yesterday but no one knew if the market would continue to tank so i gt in today at 3.78 a share, hoping for a 100% increase in a few weeks, good luck on your decision.
Yes it was a great call, i would have shorted the entire market if i knew it was going to crash LOL, the best buy in NBG is their preferred shares, you can buy them at 16 cents on the dollar.
He posted he covered his short position at .60 cents but he never shorted this at 4 dollars a share and that i know
I remember when you bought, i said i was waiting for low 12`s but it got hit in a market correction and i could have bought it much cheaper, but its going back up. Something to look at is NBG preferr shares, i got in at 16 cents on the dollar. That market tank took it way down. If you go on that board their are some really smart guys that know NBG, the last buy in was 12.50 from NBG to bring down their debt on the books, i am hoping for another.
The $42 oil was in spring then jumped to $65 because summer driving season was coming. Has you saw in the EIA reports the draw downs in oil were small, now driving season is ending. Demand is in summer thats why you saw it go up, demand has ended and builds will become much larger this winter except for distillate crude which is used for heating oil. Low 30`s in oil is a great possibility. I am going into Coffee soon, it hit rock bottom and coffee will be in demand as it gets colder, gotta love these cycles LOL
I can only see 2 pumps before oil continues its drop, first the BP refinery goes back online which causes a small spike, then the OPEC news in December. If you pay close attention to how Iran works they are telling Saudi Arabia they plan on pumping more oil and that Saudi Arabia better makes cuts, they hate each other. Iran doesn't care how low they take oil. Also everyone looks at WTI prices only, they sell mainly to Europe and the Asian nations at BRENT crude prices and Brent is still over 40 a barrel. Never forget about that spread between Brent and WTI as to many do. I sold UCO today at a loss as they still have plenty of room to take down oil. Good luck
Where is Liza ? LOL she said this would never happen, we are in peak oil LOL, her MLP`s must be caving
You will continue to see reports like this, what they will not tell you is their oil has been hedge for 1 to 3 years out. People panic and sell but look at MEMP its up today and still pays a great dividend as they have their oil hedge until 2019 for no less then 82 dollars a barrel.
Hello ndibari73, you do know ERX is based on the major oil companies, earnings were bad last time and should be much worse the next quarter, by February this could really tank, ERX is a great play but with oil tanking and it should continue, ERX will continue going down. 3 million barrel surplus a day,then Iran is ready to sell, we could see a bigger glut of oil coming. Now the Chinese banks are in trouble. ERX should be a good play in March before driving season picks up, good luck
The only way oil producers will slow down in pumping oil is once all commercial storage units are filled and all oil tankers are filled, at high 20`s low 30`s it could happen, but this should continue to drop, and in February oil really tanks.
With Iran ready to pump more and OPEC pumping more, 3 millions a barrel a day to much not even including Iran the builds will only get bigger, and driving season over with, i can see oil hit the high 20`s
Look up what Islamic religion lives and surrounds SA oilfields, and they are the minority treating badly by SA, maybe SA made a mistake doing that, will be interesting if something does happen inside SA
If Rousseff`s is removed from office, the replacement is Neves and he would become president, that might help PBR
August 22, 2015 — 3:42 PM CDT
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A Brazilian electoral court judge has requested a probe into President Dilma Rousseff’s 2014 campaign financing on signs it may have included money siphoned from state-owned oil company Petrobras.
Judge Gilmar Mendes said in his request to prosecutors and federal police that there are indications Rousseff’s Workers’ Party was indirectly financed by Petrobras, which is forbidden under law. Rousseff’s campaign also received funds from companies entangled in a continuing probe into the kickback scheme involving Petrobras, Mendes said.
The investigation into inflated contracts at Petrobras, known as Carwash, has roiled Latin America’s largest nation since allegations spread from oil executives to builders and Rousseff’s allies. Mendes’ request could further increase pressure on Rousseff, who is already facing a combination of low popularity, slowing economic growth and calls for impeachment.
“It is essential that I inform the competent authorities of signs of electoral offenses and prosecutable crimes,” Mendes said in the report submitted on Aug. 21.
Rousseff was re-elected to a second term in October in Brazil’s closest election in the past two decades. While the presidential palace wasn’t immediately available for comment, Social Communication Minister Edinho Silva told local press that Brazil’s top electoral court, known as the TSE, unanimously approved Rousseff’s campaign accounts in December. He was the treasurer of her campaign.
If the TSE rules that Rousseff’s presidential race was illegally funded, it could annul her and her vice president’s election victory. Barring an appeal before the country’s Supreme Court, runner-up Aecio Neves would become president.
More than 50 politicians are being investigated in the Carwash pro