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BP Prudhoe Bay Royalty Trust Message Board

kurt49431 56 posts  |  Last Activity: 20 hours ago Member since: Dec 16, 2007
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  • Reply to

    Distrubution Announced As Expected ....

    by umbouybouy Jul 31, 2015 3:27 PM
    kurt49431 kurt49431 20 hours ago Flag

    But the yield will be a very high number.
    Calculate $.50/0=what do you get?

    Kurt

    Sentiment: Hold

  • kurt49431 kurt49431 Aug 1, 2015 2:33 AM Flag

    So you prefer to gloss over that a small army of investors lost a fortune following Cramer's advice about Bear Stearns. Shift positions and not lose money in this situation? You must be kidding. That attitude may have been common at Merrill and could explain why Merrill was going belly up and had to be rescued by Bank of America.

    Kurt

    Sentiment: Sell

  • kurt49431 kurt49431 Jul 31, 2015 1:06 PM Flag

    If you follow the investment advice of Cramer you could end up with major losses.
    This is the same Cramer who on Mad Money on March 11, 2008 made the following statement.
    "Don't move your money from Bear! That's just being silly! Don't be silly!"
    A few hours later Bear Stearns was out of business.
    Of course if somebody is on a payroll to promote PSEC they could not care less about factual evidence.

    Kurt

    Sentiment: Sell

  • Reply to

    The BIG why NOT question ?

    by briskit44 Jul 28, 2015 2:58 PM
    kurt49431 kurt49431 Jul 29, 2015 1:16 PM Flag

    Cramer knows what he is talking about?
    Cramer became a laughingstock when he a number of hours before Bear Stearns demise he made the following statement on Mad Money March11, 2008.
    "Don't move your money from Bear! That's just being silly! Don't be silly!".
    You can find this on u-tube or google this for numerous references to this speech.

    Kurt

    Sentiment: Sell

  • Reply to

    The BIG why NOT question ?

    by briskit44 Jul 28, 2015 2:58 PM
    kurt49431 kurt49431 Jul 29, 2015 11:17 AM Flag

    You were obviously not around during the Savings and Loans collapse in the period of 1987-1990. This was primarily a problem about overpriced commercial properties. After the Federal Government established Resolution Trust Corporation to take over the collapsed banks and dispose of the foreclosed properties in the banks inventory RTC in the Phoenix area ended up getting only 28% of the listed book value. For people who for various reasons had to meet dead lines for refinance this created a distress situation and created a huge number of bankruptcies. For people holding properties under a corporate name they put their corporation into bankruptcy and often were in a position to keep the properties with a new loan at 1/3 of the original loan amount. I had a direct connection to these events and have names, dates etc. filling a legal size 4 drawer filing cabinet.

    Kurt

    Sentiment: Sell

  • Reply to

    MLPs have fallen to ridiculous levels

    by blotechproflteer Jul 24, 2015 8:18 PM
    kurt49431 kurt49431 Jul 26, 2015 8:44 PM Flag

    That would show that they are sharp business people taking advantage of a distress condition.

    Kurt

    Sentiment: Hold

  • Reply to

    Hidden Agenda Triggered Downward Spiral

    by jimcooper28 Jul 26, 2015 4:04 PM
    kurt49431 kurt49431 Jul 26, 2015 8:39 PM Flag

    If you have followed SEC for many years like I have you will find that they are incredulously slow to act when a warning is issued that something is wrong. Check the events surrounding Stanford, Enron and of course the 10 years of warnings about Madoff.
    About the 2nd item they may well decide to pay the tax.

    Kurt

    Sentiment: Sell

  • Reply to

    RSO Common VS Preferred

    by mizesaw Jul 25, 2015 3:13 PM
    kurt49431 kurt49431 Jul 25, 2015 11:34 PM Flag

    mizesaw
    I somewhat disagree. About 6 years ago RSO along with NRF were trading around $3. NRF took off but RSO keeps muddling around at about $3. The stock price has been flat and the dividend has gone down by about 40%.

    Kurt

    Sentiment: Hold

  • Reply to

    Why the drop?

    by hhires Jul 9, 2015 5:22 PM
    kurt49431 kurt49431 Jul 25, 2015 12:50 AM Flag

    Mark
    You have demonstrated that you are a knowledgeable poster. In view of the last 3 years of pressure predicting short term rate hike it seems like the Federal Reserve if for no other reason than a face saving maneuver will raise the interest rate 25bps. Personally I think this would be premature but I expect this to happen before the end of the year.

    Kurt

    Sentiment: Hold

  • Reply to

    Saudi's will hang by thier own petard

    by larry888adler Jul 17, 2015 11:06 AM
    kurt49431 kurt49431 Jul 18, 2015 8:08 AM Flag

    SA goal is NOT to BK the US. They want to put economic pressure on IRAN. A by-product of this pressure is problems in Venezuela and for wildcatters in USA plus drillers etc.

    Kurt

    Sentiment: Hold

  • Reply to

    A Grexit now appears to be IMMINENT

    by thewisejman Jul 13, 2015 12:03 AM
    kurt49431 kurt49431 Jul 13, 2015 1:03 AM Flag

    Finland certainly has the standing to take a hard line here since that is the only country to fully repay WWII debts. It should be considered that Tsipras in pursuit of his ambition to become prime minister also ended up in a hornet's nest of problems not of his creation. He is in over his head I think European leaders realize the particular circumstances involved and are willing to extend an extraordinary amount of patience. The Greek parliament will have to swallow and accept difficult conditions but to remain in the euro there is no alternative.

    Kurt

    Sentiment: Hold

  • Reply to

    The spin-off rights dividend

    by marionpolk2000 Apr 25, 2015 1:37 PM
    kurt49431 kurt49431 Jul 13, 2015 12:40 AM Flag

    At this time the details have not been finalized thus the above is pure speculation. This includes the idea that the IRS will determine the value of the rights offering. There is a good possibility that the rights offering will not take place in the form originally proposed. SEC will likely issue some kind of opinion.

    Kurt

    Sentiment: Sell

  • Reply to

    PUMPERS AND BAG HOLDERS.........

    by foefire44 Jul 9, 2015 4:57 AM
    kurt49431 kurt49431 Jul 12, 2015 12:28 AM Flag

    "Hey, how about Barry's 5 million shares? Doesn't he risk money here?".
    You are kidding, right?
    He excluded himself from losing money in the rights offering. He can keep hundreds of thousands of dollars he would have to pay IRS in dividend taxes on the rights offering while at the same time he does not have to come up with millions of dollars to exercise the rights offering leaving him with millions of dollars to buy shares 30% below NAV without the risks the the retail investor is facing. He himself has engineered a very privileged position for himself and succeeded in lowering the value of the shares for himself to benefit from cheap buys. Once the rights offering is completed and PSEC stands on its own I expect shares to rise and Barry will be the main beneficiary.

    Kurt

    Sentiment: Sell

  • Reply to

    The spin-off rights dividend

    by marionpolk2000 Apr 25, 2015 1:37 PM
    kurt49431 kurt49431 Jul 11, 2015 11:59 PM Flag

    And the best available price selling may be $0.01 per share and your assigned tax obligation may be $1.00 per share. Do not forget that debt obligations are layered in tranches like a stack of pancakes with high rated loans on top of the stack and poorly rated loans in the bottom tranches. If one or two of the tranches fails to perform the entire CLO is likely to become worthless a possibility which is increasing with higher interest rates likely this fall. It is worth noticing the effort PSEC management expended to exclude itself from the rights offering saving Barry hundreds of thousands of dollars in taxes on dividend income along with no requirement to raise a couple of millions of dollars to exercise the rights. The burden is exclusively with the regular retail investor who is forced to accept the risks involved while Barry now will have a couple of millions in additional dollars to safely pick up cheap stock for him without the worry about the restricted offering. Investors have been voting with their feet. In the last 12 months if you bought 10,000 shares on 7/10/14 closing price $10.57 and sold on 7/1015 closing price $7.37 you would now have a capital loss of $32,000.

    Kurt

    Sentiment: Sell

  • Reply to

    Mangement doubletalk

    by stan1736 Jul 4, 2015 10:21 AM
    kurt49431 kurt49431 Jul 6, 2015 12:18 AM Flag

    Pacman jumps around like a scared rabbit. No posts since June 29. I would be surprised if he does not have a position in FSAM.

    Kurt

    Sentiment: Hold

  • Reply to

    Mangement doubletalk

    by stan1736 Jul 4, 2015 10:21 AM
    kurt49431 kurt49431 Jul 5, 2015 2:00 PM Flag

    Putting FSAM on a strict diet will not make pacman a happy camper. He has led his investors on the happy trails to camp FSAM and may find it barren.

    Kurt

    Sentiment: Hold

  • kurt49431 kurt49431 Jul 5, 2015 2:37 AM Flag

    Continued
    If the above examples and others had the benefit of activist investors able to expose the true facts and figures and been able to publish them without management bullies trying to overwhelm them with irreverent posts in the process known as "killing the messenger of bad news" I guarantee the awakening to the reality would result in lower total loses for the investors.

    Kurt

    Sentiment: Sell

  • kurt49431 kurt49431 Jul 5, 2015 2:22 AM Flag

    This price action in PSEC makes a lot of sense. People are voting with their feet. Greece is not a factor as far as PSEC is concerned and there have been people scared of a short term interest rate increase dictated by the Federal Reserve going back 3 years now but has not happened as of yet. Scared trading in the intervening period has created an oscillating short term rate trading pattern but this is independent from the Federal Reserve. The ultimate truth here is how external management is manipulating the assets of the companies they manage to maximize their personal bank accounts at the expense of investors. PSEC is not alone and you will find the same discount to NAV with FSC and ACAS and elswhere. Where PSEC does stand alone is this in your face vicious convoluted Restricted Offering where management wisely exempted itself to avoid losing money and to accelerate the transfer of wealth from the retail investors to the management elite. When there is an individual who has the audacity to present actual figures and calculations obtained from the company records and to use them showing/demonstrating false declarations or refusal to answer questions on the part of the management we will quickly see a multitude of posts intended to bury/hide management self dealings working for the company 40 hours a week not only on the PSEC board but also on other message boards in order to provide a cover for the management. No need to itemize posters here since the volume/number of posts speaks for itself.
    Every board needs an activist knowledgeable poster able to dissect the ugly truth the management does not want disclosed. Mr. Stanford before being arrested a couple of years swindled 10 billion dollars, Mr Madoff had a 50 billion ponzi scheme going and who can forget Enron where CEO Kennyboy Lay (as President George W. Bush used to call his friend) had off balance sheets along with some other management insiders where losses were being hidden but generated bonuses.

    Kurt

    Sentiment: Sell

  • Reply to

    CPTA Chat

    by jan814_1999 Jul 2, 2015 3:02 PM
    kurt49431 kurt49431 Jul 3, 2015 2:09 AM Flag

    jan814
    Over the years I have always held your posts in high esteem.
    Thanks

  • Reply to

    Bracing for a market correction on next Monday

    by thewisejman Jun 27, 2015 3:37 PM
    kurt49431 kurt49431 Jun 28, 2015 1:55 AM Flag

    The key will be the July 5 election. The EU leaders will be happy to grasp at any straw that could keep Greece within the euro zone. The Greek economy is too small to have a serious impact on the world economy but there may well be some ripple effects but not likely until after the July 5 election.
    The problems in Greece parallels some in the US where certain groups get too a large slice of the economic pie exemplified by Detroit and now Chicago. The sitcom Jefferson's only wanted a slice of the pie but now some public employee groups want the entire pie leaving nothing left for others. Our legal system is not sympathetic to beleaguered tax payers partially due to the facts that judges are among the main beneficiaries here. We need a constitutional amendment stipulating that public employee pay and benefit total package does not exceed the equivalent of the average private full time employee package.

    Sentiment: Hold

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