most people in Peru did real well under Fujimori and his daughter had a lot of supporters in the last elections - he is credited with defeating the Shining Path and creating a lot of the growth that Peru is enjoying now - tons of $$$ coming into Peru - have seen it with my own eyes and ears - you should come down some time and buy me dinner at Astrid y Gaston. You can stay at one of the new multi million dollar hotels they just opened in Lima while you keep your eyes peeled for terrorists and harmed dolphins. The rest of the world is moving on but I guess from your arm chair and google you feel real connected to Peru.
See you at $4
I booked a huge profit on Suroco and now finally MILL is showing its true colors
You can come back now and its OK to gloat.
Dont give away all the good ideas for free - i have to pay you for that sheet
i dont have much cash to tie up but some call options here look tempting. I just dont see Cabot at these levels this winter - i am no expert at options
any options players here with any advice?
oh B.S! I have seen ol don_t_panic battle with the best of them and he never throws in the towel!
your battles on the RAS board where legendary!
Sentiment: Strong Buy
I can agree with you on most of your thoughts including the 5 percent down
the big question is WHEN? we could see 15 percent up first and then 5% back - I am no trader but that is my guess
I commented on the article. I dont feel like I am qualified to be Millers defense team and I actually like the author that put out the article. I think maybe he did a quick scan and saw a few red flags and just went that way the whole article - in a rush.
how does someone make the Alaska rebates seem like a bad thing? that is like saying your wife is going to wear out a pair of scissors by cutting coupons!
One last thought - over the last ten years and i think over the next five years in the future - i have missed more opportunity by hanging around in the flat US economy trying to make money. I am talking about traditional types of business - not the market. The markets can be accessed anyplace in the world. Peru is a lower tier country but they are moving up. I am not bashing my beloved USA but politics aside we are losing ground and the middle class is getting squeezed hard. Its great if you have a job at a hospital or a big company but for the small businessman its almost impossible. You want to sell something - try competing with Walmart or amazon.
Peru is still very tough for the avg guy but if you are middle class there is opportunity. It used to be just rich and poor. The rich owned the businesses and they treat their customers #$%$.
Real estate like i said - there are people here sitting on real estate gold mines. See that #$%$ vacant lot on the corner in a so so area- asking price 1.5 million. At home i bought a commercial property with a small building on it in a decent neighborhood for $30,000 and sold it for $50,000. That wont get you a #$%$ house in Lima. The real estate market could be a bubble but when it comes to mining peru is number three in copper and number six in gold - globally. So the resources are there and if gold and copper go up - so does Peru.
They are just starting really with the oil exploration and they have a ton of natural gas and big nat gas pipelines. Plus oil refineries. Fishing is big here too. Big fishmeal producing towns. When you eat trout it might have been fed from peruvian fish meal. Ok - end of rant.
Bob - i dont need to explain myself to anyone but i will. I am 46 and i work for myself. I already said i have been coming back and forth for over ten years. I am married to a peruvian. I dont have to claim to be anything nor do i feel compelled to call anyone names (stooge). You and I might get along in real life so consider coming down to Lima. You might be shocked when you see the changes here. I have nothing to promote and i dont think this message board is going to move the pps of BPZ one way or the other. I have already disclosed i am long here and i am also long GTE.
By the way - did you see where GTE sold off its assets in Argentina to Madalena to focus on Peru and Colombia! Crazy i know. Where Gran Tierra has land is in the jungle and it is night and day compare to the coast where BPZ is
Anyways - best of luck to you
Well you seem to be pretty good at googling. I never said. Peru was perfect but if you were in Europe lets say and you googled old news stories from the US would you think of things like Timothy McVeigh and Rodney King? I guess the US is not a place you would want to invest then based on your "research"
Keep going on and on and someday when you leave Backwater, Oklahoma you might get out and see the world a bit.
My invitation is still open to visit. Can you afford the airfare and the gas money?
Leave your preconceived notions at home and you might learn something along the way. Investing in emerging markets is not for everybody.
Are you short here?
One more thing - there are a lot of poor people here but their are some shockingly wealthy people here too. Audi is opening up new dealers - olive garden just came here LOL
We have family that is selling a house for 500k a d they will build 5 floors on that land with 10 apts that sell for 250k each apt
I grew up poor and decided that i didnt like it - i have watched opportunity after opportunity go by here in Peru while i am being forced to pay for things like insurance for other people in the US.
There is risk here but if you want to see for yourself then let me know when your flight arrives and i will pick you up at the airport. You buy the gas and we will ask BPZ for a tour and head up the coast.
If you are short than try to come up with something legit. I am all ears and not afraid of facts.
But there were protests over the water so the expansion of the mine (congo) was delayed
Also gasoline here is expensive - i pay $5 a gallon for diesel in my mini van - they also use a lot of natural gas here for cars - they are way ahead of the usa on that issue
My father in law has a natural gas powered toyota wagon that is used as a taxi
So people here want and need natural gas and oil - more so than copper and gold - it affects their pocket book
I am not saying things are perfect here but this is a money making frontier opportunity. Their is risk but their is reward.
Disc - long BPZ and Gran Tierra in Peru
I am also looking to open a business here because owning a small business in a bad economy has been a huge grind
I have been living in Lima for a few months and been going back and forth for over ten years now. I am in lima the capitol and i have driven all over Peru in our minivan. I have been to the area where BPZ is but necer got a tour of the place or anything. The north coast is a popular tourist destination and its where the best beaches are. I am on an ipad so sorry for the typos
Peru has been stable for some time in fact while i watched my house value in the usa decline - real estate prices here have tripled - its crazy here. - a boom time in real estate really - it would cost me 5x more to duplicate my usa house here in Lima.
My wifes grandfather was in congress years ago and i keep up politics. The shining path is kind of like the #$%$ - the once held a little power and maybe they still have some members - but really they are a non event.
Their could be some risk of turmoil in the jungle where major Gran Tierra operates - i am long GTE - because if the rights if the native tribes. But on the coast its more like Gulf Shores Alabama - nothing to write home about and not much to worry about.
Peru's has had great gdp growth but it has slowed due to it being a huge gold producer and we all know where the price of gold is. So peru wants to keep up the growth. - they have massive infrastructure needs to meet
So oil is important - in fact they are getting ready to auction off other exploratory blocks
Oils has been kind of overlooked as gold mining and copper mining is huge
That is where the focus of protests are. I was long NEM and visited the area where they have a huge mine
If you go that route maybe get a usb wifi adaptor from your cell phone company out their as a back up
I have dish in st louis and it only goes out in a heavy heavy rain or snow but you need back up
I hope you make money with them - if they get bought out i will be kicking myself for a long time for selling
I like the way you think mister
What is your guidance for the fishing?
If thou think Doral bank is going to pull a rabbit out of its hat and you are buying the pref then you should look at DORLL
DORLL is the thinly trades cumulative pref with a $250 coupon
You can buy them around 70. - I am selling mine because I not long Doral bank anymore
For every buyer there is a seller and I might be stupid for getting out but I want out and I hope you make money on the m because I am moving on down the road
Hey Richardson has proven to be a loyal guy - well not to the people who he is supposed to represent per say but hey if you need bailing out of a sex scandal or you want to run your company into the ground while he is supposed to be on watch - well then he is your guy
His track record in those areas is tried and true
He doesnt care if its beer, oil, or widgets - make the check out to him and drop it in the mail
Speaking of 1984 #$%$ Gephardt does the same thing - big money lobbyist