I own tnk and too . I also own etf symbol is SEA . In the pass the pay out on SEA has had good Yield . If you check out holdings on sea they have teekay and sister companies as top holdings. I would warn that SEA has very low volume . The fund seeks investment results that correspond generally to the performance of an equity index called the Delta Global Shipping Index. This Index is designed to measure the performance of companies listed on global developed market exchanges within the maritime shipping industry. I am buying SEA TOO TNK I think they will be good income generators long term.
I owned this stock before and have seen how it trades over the years, Look at the price in nov 2008 then one year later in nov 2009. This does not mean anything this time, but I am thinking there in better shape now then back in 2008. The large amount of debt is what is holding it down and makes things scary.
It maybe a couple bucks off it,s low but you could look at it in a different way that it is still almost twenty bucks off it,s 52 week high
Just when the shorts start to cover you gave up and sell out. Looks like you bought high and sold low. Not a good investment strategy .
could be worse I bought some City bank down 20% in 30 days. HSBC holding up better and as of now paying a good dividend. City,S Dividend only 20 cents a year on a $40 stock. I wonder what happen to hsbc if they cut the DIV. Will not be good. Not easy to invest on the long side this pass year
The rig count is down 60% in pass year. The over supply will come down and ECA will be a FIVE bagger. You could leave your money in a safe Cert. of deposit at a bank making 1% and see how that works out after taxes. One dollar of buying power in 2005 has the same buying power as $1.21 in 2015. You lose if you do not take some risk. Could ECA not be cheap to a big oil major at $10.00 . At some point oil will move up and one who takes on the risk will profit . George Getty, who was in the petroleum business was one of the first people in the world with a fortune estimated at over one billion U.S. dollars. The getty,s took risk when there was blood in the street and made billions. The right buy could get you your slice of the pie not without risk.