no s**t. the other way to look at this is somebody (read CMA crowd) maybe pulled Ian's choke collar at last minute. the notes had a 9.5 coupon, ouch! there are many ways to skin this yet, but my earlier posts show how little i know., so i am speculating. i just know it is in CMA's best interest that GSL work out. you were correct on this one Foo.
my guess is the pullback was scared money reaction to notes being put off a day. i hear they are set to price tonight with Citi as sole book runner, possible ratings the same. when priced, the notes will take the banks completely out and clear way for div reinstatement. my guess has always been .48c a share, and that stands with this offering, but others may have sharper pencil than me. personally, i would be very happy with such a distribution.
could be tax qualified money. no taxable consequence. over long run, it doesn't really matter. nice entry point for someone who missed earlier.
people sell for as million reason. GSL is up from 2.95 end of last year. some feel you never go broke booking a profit. others feel you can't make real money by limiting your winners. takes all kinds. they will reinstate, however, so more good news is coming. again, mho
yeah, pretty simple. someone is dumping a sizable block of stock sloppily... as most trading seems to be anymore. 1/4 million shs in first hour. when the block is finished i would expect the stock to go back to 6 and wait for further announcements. they will reinstate and we will see higher price. you buy the sloppy dips, imo.
they have but $10mm of balance sheet cash in the deal with debt non-recourse to N Holdings. i'd say they did just fine on the deal. the container ships alone will allow Partners to increase its distribution, 21% of which upstreams right here. not too shabby, imho. betting against AF has not been wise.
sounds like a Coursonc name, though it is lost in history to me (as is Coursonc). was me, i'd put a stop under that. turbines up here (N Mich) are being taken Out of service. too expensive to operate. that is everything i know about topic however, so anecdotal at best.
seems to me there was a lot of speculation here a month or two back that the 10 ship Navios Europe deal with HSH Nord wouldn't actually happen. with all five container vessels now in Navios hands and this morning's announcement, that should put to rest any notion that Navios management ever releases deals/information they don't fully follow up on. a terrific deal no matter how one slices it.
i seriously doubt Oaktree took its position here for a trade. they're smart enough to know how much money can be made when the cycle is right. with ownership near 22% now, nothing is going to happen that they don't want.
i am no fan of rocket ship rises no matter how big my holding, so i hear that. it is interesting to me that Star B keeps sizzling higher too when that is almost all "on the come" imo. i'd be careful about comparing Holdings & Partners though. they are different animals and, not for nuthin', you could have bought all the NMM you wanted a year ago at 12.10 (i know, cause i did). w/15% yld baked in, it has performed beautifully.
Foo, i see NMM as possibly being able to raise qly dist by 5c by Q2 2014, as container deal kicks in. w/its 21% stake in Partners, such rise-- if it happens-- goes right to NM's bottom line. and besides, this should be slowish season for fixing, but instead is firming. that doesn't bode well for short plays. imho, people underestimate the power of the rebound when it comes. these names were wildly underpriced for way to long. global movement of goods is here to stay for a while.
i think it is fair to say management, which crosses both cos, was hoping the Vale announcement would spur a bid. perhaps it just took a while to gestate. whichever, one could argue if SBLK is worth mid 9's, then NM has some room yet. not stating anything, i'm just sayin'.......
i am new to SBLK, but a long time size holder of several Navios names & one or two others. not qualified yet to comment on earnings, but i can say to buy-bye... imo... analysts rarely know what they pretend to know, then have the gall to print. they're so focused on picayune stuff like which month a dry dock occurs or some arcane accounting issue, they generally miss the larger picture. more interested in sounding smart than being smart. if you want to know your company, do your own DD. you'll be a year or more ahead of analyst pack. imho of course.
i was just sticking up for Edge's right to an opinion (and correcting how it was presented here). my own opinion is Ian should stick to the original business plan and return CF to investors. simple as that. reinstate distribution, stock jumps, everyone wins. what's so f****i ng hard about that? stick to original plan.
he didn't "recommend" no dividend, he simply said he would be in favor of creating value inside the company at IRRs 15%... at this point, who wouldn't be?? and fwiw, he owns a lot more stock than you, has since alost day one, and knows this company better than almost any of us. that is Edgetrader and he is allowed his opinion.