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DryShips, Inc. Message Board

mr_ortooglo 16 posts  |  Last Activity: Mar 12, 2015 10:22 AM Member since: Mar 9, 2011
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  • Reply to

    Bank dividends

    by keebon Mar 11, 2015 6:27 PM
    mr_ortooglo mr_ortooglo Mar 12, 2015 10:22 AM Flag

    I'm right with you on NYCB ~.25c div per Q and no fuss no muss...No hassles from any gov agency and has maintained that dividend for more than 20 years...Solid as a rock so far!

  • Reply to

    GABUX NEVER MADE IT ABOVE $10 AS PREDICTED

    by corvetteloverboy Mar 9, 2015 11:01 PM
    mr_ortooglo mr_ortooglo Mar 11, 2015 10:02 AM Flag

    Unsure if its poor fund mgmt or not but certainly poor planning and communication to shareholders...Look, GABUX put a very nice dividend in my stock portfolio every month and I dripped the shares into my IRA...I didn't lose anything when I sold as I bought the vast majority of my shares in the mid $5 range several years ago...With that being said this is really stealth by deception in my opinion as well as insulting for Gabelli to state that additional investors will flock to the fund after the reverse split and that the pps will go up...Just the opposite is true and to leave the dividend at .07 after the reverse is suicide for the fund I believe; who in their right mind is going to take a 50% cut on an asset (lol) that's sinking like a cement cloud...?...Mario bought himself another 5-6 years of raking in his 1% MGMT fee while this thing slowly sinks to Davey Jones Locker...I flat guarantee you that in a year to 18 months this thing will be trading in the $8 range at best due to folks bailing out en masse...Mario tried to sell everyone a bill of goods and its back-firing in his face...He really lost a ton of credibility with me (45 yr WS investor)...At any rate it's neither here nor there and since I'm out of the fund I probably won't post anytime soon, but none-the-less good luck to all...

  • mr_ortooglo mr_ortooglo Mar 10, 2015 12:15 PM Flag

    I had approx 35,000 shares and sold out a few weeks ago and its a scam imho...Mario disguises the dividend cut (50%) by reverse splitting the shares...This will NOT attract new investors but WILL force many existing investors to head for the exits...Supposedly these past few years (according to Wall street) Utilities were where "you needed to be"...Looks like utilities are taking a proverbial dump over the past few weeks (and getting worse),...Rather than reverse splitting the shares the right thing would have been to keep paying out and liquidate the fund at NAV but greed wouldn't let Mario do it...The reverse split will allow him to keep fleecing investors for years to come...

  • Reply to

    NRZ IS A NOW A STRONG BUY...!

    by staggman99 Mar 10, 2015 2:48 AM
    mr_ortooglo mr_ortooglo Mar 10, 2015 11:40 AM Flag

    Stag...I certainly don't see what you're seeing but my Doc said I need stronger prescription eye glasses so maybe I am going a bit blind...Buy rating...Div play or pps appreciation...maybe both...?...Stock just suffered a reverse split and kept the div roughly the same which amounts to a 50% div cut...Clever way to disguise it...Gabelli just did the same thing on one of his utility funds...Can't see anything strong about this one what-so-ever...just imho of course but WTHDIK anyway...GLTA!

  • Reply to

    NMM possible acquisition:

    by bobdbeck Feb 26, 2015 10:06 AM
    mr_ortooglo mr_ortooglo Mar 1, 2015 10:37 AM Flag

    Angeliki is a smooth operator and a very shrewd business woman...Good place to invest imho...

  • mr_ortooglo by mr_ortooglo Feb 25, 2015 9:15 PM Flag

    Article in Tradewinds says he's out at Eagle...

  • Headline on TradeWinds and article posted over at Investor Village

  • Reply to

    Merger Moves Closer....

    by mr_ortooglo Jan 23, 2015 10:32 PM
    mr_ortooglo mr_ortooglo Jan 24, 2015 10:02 AM Flag

    As I'm sure you are aware dry bulk is in the cra_pper and every dry shipping stock is falling off a cliff...With that being said Golden Ocean has found a way to eek out a profit and has solid management and solid charters...Knightsbridge is also soundly run and has a large commitment for 15 vessels from a German Utility/Conglomerate (RWE) that will most certainly make one breathe a bit easier...TradeWinds is reporting that many of the newbuildings on order sector wide will either be cancelled, delayed, or converted to some other type of vessel...Its also been reported JF has been in negotiations to flip some of his Capesize orders to Tankers because rates are so bad now in Dry (due to over capacity of ships)...I would imagine that once the merger takes place we will continue to see some pps erosion over this next year imho...

  • mr_ortooglo by mr_ortooglo Jan 23, 2015 10:32 PM Flag

    TradeWnds Reporting....

    John Fredriksen's Knightsbridge Shipping has registered to issue $507m of shares as it seeks to complete its merger with sister outfit Golden Ocean.

    The companies said last year they were combining to create a capesize titan with 72 ships.

    A total of 61.5m shares will be issued to Golden Ocean investors to seal the deal, as the owner is merged into US-listed Knightsbridge.

    Shareholders still have to vote on the deal.

    Knightsbridge said in an SEC filing that Fredriksen's Hemen Holding and affiliates like Frontline 2012 would control 53% of the combined company, which TradeWds has reported will keep the Golden Ocean name.

    These companies have 41% of Golden Ocean at present, and 62% of Knightsbridge

  • Reply to

    SFL management fee vs FRO breakeven

    by exmbb Jan 23, 2015 1:23 PM
    mr_ortooglo mr_ortooglo Jan 23, 2015 9:30 PM Flag

    I was under the impression that FRO's break even was less than that but what the hell do I know...Interest is a killer and JF is paying that off so we'll see...When its so complex that the Wall Streeters can't figure it out how in the world can we other than a Wild #$%$ Guess....We'll know someday soon (a few quarters down the road) when JF announces FRO has a boat load of cash, diminishing debt, storage leases up the Kazzoo, VLCC rates in the $90's or $100's and we're getting a small dividend again and the stock is set to double...It appears to me (after 9+ years of continuous ownership) that JF is flying under the radar here...Maybe a bit of stealth by deception as in keeping WS in the dark sorta speak...Things are starting to percolate quite nicely right now imho...

  • Reply to

    Increased monthly cash distribution 9.75%

    by pennwestlong77 Jan 17, 2015 6:05 PM
    mr_ortooglo mr_ortooglo Jan 23, 2015 12:06 AM Flag

    Without trying to come across as a pure unadulterated "A" H%le I don't like to give away my Due Diligence or like to give financial advice in the event something goes South and someone were to lose money based on my recommendation(s)...

    With that being said I will give you one that was passed on to me and one that I personally have NOT yet invested in but am planning on taking a stake within the next 6 months...

    The CE Fund is PHT ~ There is a catch however in as much as their website reiterated a long standing statement that it "may not be able to continue the monthly payout at current levels in the future" so is it possible there might be a dividend cut....?... .135c per month and roughly $17 bucks per share...CEF Connect is a great screener of these funds...Best of Luck to you...

  • Reply to

    Increased monthly cash distribution 9.75%

    by pennwestlong77 Jan 17, 2015 6:05 PM
    mr_ortooglo mr_ortooglo Jan 22, 2015 9:21 AM Flag

    Long history of dividend cuts here which would signal an absolute steer clear for me on GLQ...Div started out in the .30c+ range and has fallen to .115c today...Look for zero div reductions and negligible ROC's when investing in CE's in my humble opinion...Hard to find but keep digging and you'll find a few...

  • Reply to

    JF was smart on GLNG

    by rogers2308 Jan 14, 2015 12:40 PM
    mr_ortooglo mr_ortooglo Jan 16, 2015 8:53 PM Flag

    It certainly was good timing on JF's part ($1.9B windfall) as he and Troim split the sheets as they say...JF did recently take total control of FLEX LNG for cheap which he'll build into a formidable competitor to Troim and Golar...I believe they (Flex) have 4 LNG vessels currently on order...But you're right, the JF empire is seeing massive downturns in their pps across the board...Its ugly!

  • Reply to

    I would not be surprised if JF

    by grey3840 Jan 14, 2015 5:35 PM
    mr_ortooglo mr_ortooglo Jan 14, 2015 11:28 PM Flag

    grey...doubtful as I think JF wants the Golden Ocean Group to be a "Pure Cape Play" for whatever reason...There was some banter that JF was going to merge Frontline with Frontline2012 but TradeWinds is reporting that might not happen now especially with the strides JF/FRO has made towards repayment of the upcoming bond ($90M as I recall)...Rates are up, storage fees are now in play and gaining traction as majors are leasing tankers for up to a year...Wouldn't surprise me one iota to see FRO in the $6-7 range soon and see a .05c to .10c dividend reinstated...Esp with the price of oil continuing its downward slide...

  • mr_ortooglo mr_ortooglo Jan 14, 2015 11:02 PM Flag

    man...trim your estimates way down...the current contango will not see storage rates of $84K per day being paid...TradeWinds reports that 12 month storage contracts are in the $45-$55K per day...thats a long way from $84K per day...I'm long but lets keep it real...GLTA!

  • Reply to

    Poor Harry Reid

    by purely_evil Jan 2, 2015 7:22 PM
    mr_ortooglo mr_ortooglo Jan 14, 2015 10:33 AM Flag

    Too bad he didn't get caught up in the mechanicals and ground up into hamburger and had to scrape him off the floor with a shovel...Even the pigs wouldn't eat that slop...Couldn't happen to a bigger pr_ik!

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