Rates for Bulkers are at historic lows.. And were losing money when rates were lot higher... Google, Compass Maritime Weekly.. The value of 2005 built Cape value has dropped from $40M to low $20s, since Aug.. Have value of all bulkers dropped about 50% since Aug? As far as those UDW rigs of Orig.. With about $5B debt.. They may not could give those rigs away? Who would want something.. That most likely.. There will be no demand for, going forward..
Hell of a buy.. Not only will you be getting a great divvy.. Stk should go to $115 - $120. shortly.. Then depending on what oil does.. Who nobody knows.. CVX could be setting new highs.. I think all time high was like $135. I am impressed CVX is sitting here with $13B cash and XOM is sitting there with $5B cash.. Don't make sense? But true!!!
What would you expect? That's Drys CEO (GE)s private Co. Who own a bigger fleet of bulkers than Drys.. That handle all leasing, buying + selling of ships for Drys.. Where would you recon a "good" lease on a bulker or tanker would go first? When GE started Drys in 2005.. Drys was Co. who handled everything.. By 07, GE switched everything around.. Since 07.. GE has made himself billions.. Dumping ships ordered for Cardiff on Drys.. When they couldn't get profitable contract's signed.. And have took back some from Drys.. That Drys had absorbed most of building cost.. You got to realize Drys had all their bulkers leased at like $50K per day, in 07.. You need to read 07 earnings reports to realize what GE done to Drys in 07! And since has made all the money.. Waite, Don't tell me after all earnings have dissapeared. And money from sell of 670M shrs have dissapeared.. Drys is being flushed down the toilet, with well over $1B debt.... Oh well, GE can buy up assets, for pennies on the dollar.. Waite, Did someone say he had filed with SEC, for abiity to sell another 1B shrs of Drys? Hell there may be little more blood in this turnip.. Do you realize, when Cardiff orders a new rig.. Cardiff gets payed like 30% commissions on $600M... Why you recon they got 3 newbuild rigs being built right now.. That BTW: They will not be able to pay for... Orig will get killed! Will lose all money already payed to builders! And will owe cancellation fees.. But not to worry about Cardiff and GE.. First thing they do is take their commissions... If you haven't figured out, with the revenues Orig is generating... Why they got like $5B debt.. U B a little slow witted!!!! GE is a selling SOB!! But can't talk fast enough to sell me any of Drys or Orig..
If value of bulkers have dropped like 50% since Aug? And with oil at $50. There is no asset value in Drys or Orig.. Orig kept Drys surviving, when oil was $100. per brl.. You better check and see how much Drys has borrowed against that Orig stk, in last couple of yrs, When it was trading for like $13.50 to like $20, per shr.. I believe? With covenants on loans tied to value of bulkers, tankers and value of Orig stk.. lenders are underwater.. And could come in and take over Drys and Orig at anytime.. And try to recoup what they can? Before GE puts assets in worse shape... With Drys and Orig Debt at like $6B.. What if rigs are basically worthless? And those bulkers and tankers are worth about 1/2 of what is borrowed against them, as GE borrowed that money when they were a lot more valuable? Those lenders that lent GE all that money.. Would be lucky to get 50% of their money back..As a stk holder.. Your stk has been worthless, since Orig stk dropped under $10. per shr.. And has become more worthless as Orig stk dropslll Big friggin deal! Those 10 tankers doing pretty good right now.. Watch how GE points that out on next earnings reprt! As Drys and Orig are going down the toilet. Hell in 4th qtr.. Drys was just floating in toilet, waiting to get flushed.. How in hell was GE, able to sell another $333M worth of Drys stk.. And borrow $320M.. OK he borrowed the $320M using that Orig stk, as collateral.. When it was still trading at $13,50 a shr... I guess the idiots that bought that $333M of stk.. Just had other peoples money, to give, to good ole Geo? I imagine as Christmas was coming on.. Everybody in GE's family had a very merry Christmas, with your donation of another $333M.. F I could have made a lot of people happy with $3K..When did people not take $333M as a fortune? This little game has become comical to GE! Hell he has took your money.. Owns his own Island, That he shows off, his,one of the worlds biggest art collects. That you paid for...
When he used to report to Congress.. I couldn't really understand what he was saying? As it seemed he liked to used words, that are in nobodies vocabulary! Exspecially this dumb #$%$ from 'N.C, Actually I couldnt understand him. He is supposidly real intelligent.. O.K. I am a dummy.. But listened to what he was saying about oil? When talking about frackers.(talking in everyday language) One time he said something to the effect.. Their cost was like $60.-$65. per brl.. Little later.. said like $40. per brl?? He may not realize differnce in $25. a brl means.. My dumb arze does... But then.. He said Saudi, has oil they can produce for $1. per brl!! He is as crazy saying that.. As an idiot playing liers poker, with 2 plays.. Saying he has 10 Aces.. I call BS, Moose or what ever..... How could anybody produce Oil at that cost.. I ain't even sure you could bottle a brll of water.. for $1. per brl? Joe! Quit listening to so called experts.. Your brain is same size as theirs.. Use it!!!
GE took all the air out of any possible rally.. When he sold an additional 250M shrs last qtr! Lot of difference in a Co. losing money.. And Outstanding shrs being 413M shrs..And loses going to get worse. And now outstanding shrs are like 670M shrs.. You tell me, what could make Drys to go up..If you think, oil going up a few dollars at these prices.. Really has any effect!! You are as crazy as a loon!
Drys should have been very profitable thru 2011.. And should have still owned all of Orig.. And those 6 rigs in 2012 should have been showing at least $400M in profits.. Yet they showed a lose? Let me give you a clue! Cardiff, GE private Co. handles every thing.. Out of revenues.. They take about $600M per yr. Charge it as Gen + Admin, expenses, depreciation + Amortization.. The bulkers you paid for, do depreciate.. Where does that tax free money go? They write off for depreciation.. Hell GE has borrowed another $6B, against your assets, to cover, what they report in loses... I hope a storm come up and sinks every one of GE's private Owned ships.. That he bought with your money.. His fleet is lot larger than Drys now.. Then, I Hope William Money, comes thru and burns his private island.. He bought, with your money.. And GE's, worlds largest art collection.. Is on island.. And William shots his dog and cat.. And then tells GE.. I am really here for you! For what you done to Drys stk holders... If you haven't ever seen the movie Unforgiven.. One of best movies, I ever saw! William Money, reminded me of myself a lot..
Whether people realize it or not.. There was like $520M owed on that $700M note, that got paid off in 4th qtr.. GE sold $333M of Drys stk and borrowed $320M in 4th qtr..And Drys got a $15M divvy payment from Orig..GE got about $148M more than was needed to pay off that loan.. So far.. We can figure out where $15M went.. That $200M ABN loan is down to $185M.. Let GE keep lying about Drys loses.. Somebody going to want know where the money is going.. I think this has just got none chailont, to GE.. Nobody going to figure out how much money he is taking? But somebody better start wondering? Where money from about $4B of stk sales have went.. Along with all profits, Drys and Orig have generated.. And he keeps borrowing as much money as anyone will lend him.. But does the average person.. Realize how much a billion is? hell a billion don't sound much difference than a million .. A million in $100. bills is tall as a 6' man... A billion is as tall as Empire State building...With billions you can buy your own private Island and one of the worlds largest art collections..
And when they tell you they beat Estimate! In last week analyst had changed loses from .09 to .19.. Yea they beat that .19 by a penny! But if you used last week est.. They missed by .09..
1st qtr 2014. COP earned $1.81 a shr.. This year lost .18 a shr.. Last qtr debt stayed the same, $22.5B.. But Cash dropped from $5B to $2.7B... Something better change fast! Or COP going to have more problems than they can handle...
Joe, I ain't figured all this out yet? But after learning that.. COP ain't trading at twice what it's worth.. It's trading at 4X what it's worth!! Sit back and watch..
Obviously ain't going to be pretty.. They are bailing.. While us dummies are stuck out in outer space.. Houston we got a problem! What is problem, let us dummies know what you are going to do about divvy? But don't leave us hanging, While yall cash..
From my experience. Zacks don't have a clue? And if DB is telling you to buy or sell? They are probably doing the opisite? If you got some stk you want to buy or sell.. Think about it! I don't trust none of those lying SOBs...
There are always 3 side to any story.. What you believe, what I believe, and then the truth.. All I know COP is losing money and burning thru a lot of cash.. If people buying an oil Co. for a secure divvy.. They should be looking at CVX or XOM..
COP, CVX and XOM are only ones, I looked at.. And there is hell of difference in the 3.. In 1st qtr.. XOM + CVX.. earned about what they paid out for divvy.. So they ain't burning thru cash, paying their divvy.. COP lost money.. COP started 2015 with $5.1B. Just the cash they burnt thru in 1st qtr (2.4B) and this divvy. Would have cash down to $1.7B.. You can call me a troll.. Reality is: I bought a "few" puts on COP.. And want everybody to know why!!!. What does that make you? Telling people to buy a stk.. That I am convinced, is selling for twice it's worth... What oil will do going forward will depend on OPEC!! Saudi is saying they ain't cutting back on production, and give up any of their mkt shr.. Regardless of how low it goes.. If you don't believe, when sanctions against Iran get removed.. And they have ability to pump as much oil as Saudi.. If you don't believe oil will drop to $50. or lower and stay there.. Saudi + Iran ain't the only ones involved... The lower oil goes.. Puts more pressure on other OPEC members to sell all the oil they can!!!
I personally believe both of them are strong buys at these prices... As they both made decent money in the 1st qtr.. When we saw worst oil prices in 30 yrs.. So far in this 2nd qtr.. Oil prices have averaged $10-$15. per brl more.. In questioning which is better buy? Which is paying best dividend yield... Hey they both have basically the same worries. So with CVX paying a better yield? Why are they sitting there with like $7. per shr in cash and XOM sitting there with $1.24 a shr in cash.. When you weigh them slice and dice them.. CVX got to be best run Co.. And forget COP.. Must have a bunch of clowns running it.. They lost money in 1st qtr.. And could very well continue losing money.. And about now, their cash is down to about nothing... And they are lying dogs.. They reported they lost .18 a shr on like 1.23B shr in 1st qtr.. When their debt stayed the same.. Yet they burned thru $2.4B cash..
How have all us dummies done in the past when buying billions of dollars worth of Drybulkers.. I'll tell you how,we have done... The ones running drybulkers, got rich.. While our billions dissapear.. While they took our billions.. They took enough of those billions, to keep ordering newbuild bulkers.. And if they leased those bulkers, at profitable rates.. They have took any profits and Money from stk sales.. Now drybulkers losing so much money.. They are borrowing as much money AS possible against any equity, stk holders have left.. The only thing dead in this cute little game.. Is your brain!! BEWARE of Greek's bearing gifts...
I retract last statement! I just checked Orig.. If you know what Orig trading at $6. means to Drys? At this price.. Drys is still worth shorting... About now, Drys and Orig should be drawing up BK papers...
You can call it garbage.. But I ain't broke! Now deciding how much money, I am williing to bet against you theiving SOB's, Playing with millions of other peoples money.. Hell of a bet: Laying down a $5K bet against people with millions, billions or maybe trillions...Usually you draw back a knub..But you better realize! Us dummies ain't as stupid as we used to be.. If I lay down a $5k bet.. It sure as hell, won't be on a drybulker stk to go up..
And there would be good reason.. BDI could go up 500.. And Drys would still be losing big time money.. These clowns ain't as stupid as they were a few yrs ago... When they would listen to an idiot like you... Hell BDI could go up 1000.. And Drys would be lucky to be breaking even...