If they take the debt, then it's not for free, it would cost $9B, nobody will pay the bloated bailout price for these assets. That's why they think the IPO is the way to go. Good luck with that. JB and crew need to step aside for the sake of the shareholders, they're responsible for this debacle.
The message board pumper's advice and all his pumping id's should be avoided at all costs. Cleveland's flawed analysis of fcx has resulted in losses nearing $40,000.00 on just 10,000 shares. He continues to pound the table with his statistics and unreliable perceptions. Anyone thinking that the IPO is going to yield significant returns is a fool. Experts saying oil down for 4 years, any attempt to sell energy assets during this timeframe will yield only fire sale results. Big oil waiting to pick off oil players in trouble. You want to make money, go opposite of the pumping idiots, and where is Cleveland's Gordon gecko id with his $15 by Friday prediction.
He's getting the bone again this morning. All the pumping with his multiple ID's and name calling won't help him. Funny watching the guy calling everyone a punk getting punked himself. Newbies stay as far away from this tool and all his other ID's advice as possible. Silver lining is he'll have loss carry forwards for the rest of his life before this is over.
Have you ever bothered to set Cleveland right on his buy calls in the upper teens and twenties considering the sp is in the low 11's just weeks later? No, because you are Cleveland, and your name calling is just like Cleveland. I'd bet the farm against you that I have only one alias/id, but that's not the point, what's important is who should investors and newbies avoid like the plague. That would be Cleveland and anyone supporting that idiot who's been predicting buys all the way down for the last 50% drop.
Including boardmonitor, sdy, lousyburnstinker, several other ids of other posters that he's changed by one keystroke to cause confusion, and many many others. He normally attacks with the Cleveland id, now he's PO'd and even attacking with his boardmonitor id. All you really need to do is remember who's been posting it's a buy for the last several months (Cleveland and his dozens of IDs), and who's been posting it's a train wreck and going to crash (opti and his one id). I think mikemills is right, Cleveland doesn't even have an account.
I like the heartwarming story how he sold for a big profit in another stock to buy this train wreck. A true believer, or just another paid pumper. Who knows and who cares, all anyone needs to know is his advice has been all wrong.
OK folks, here's the test question of the day, has the mega pumper and money loser Cleveland lost 40,000 or 42,000 assuming of course that he actually has any money to invest or more than likely is a broken down paid multiple ID pumper? I'd be happy to wager against you on your accusations that I have more than one ID, but you aren't going to have any money left after this debacle, if you really had any money to start with, and I wouldn't want to be paid off in FCX stock for the obvious reasons.
It's your numbers, give us your average basis, tell us how many shares you own, and tell us your last buy, and bingo, your losses become very apparent. Back to the subject at hand, nobody cares about your losses, your name calling, your horrific advice on stocks, what is important is that nobody takes your advice because it's a shame for newbies to be scammed by a know nothing jerk like you.
Your name calling has grown old, but what I never get tired of is watching you lose. You're down 40,000 and counting. You keep this up and you soon you won't be able to afford a computer to post your nonsense on.
sg, it wasn't a case of stupidity, it was a related party transaction. MMR was on the verge of bankruptcy with 2 billion dollar dry holes and a host of other problems. The stock was trading at $8, but given a couple of months would have most likely dropped to below 2. CEO and his crew paid a premium of almost double the $8 because I assume they knew an open market sale would have netted practically nothing. Remember the CEO and his cronies stood to lose their entire investment in MMR. With no FCX shareholder approval, it was a cram down on all FCX shareholders. The only investors that came out good on this was the MMR shareholders that took their money and ran. All the FCX shareholders were left holding the bag. Poor Management and Corporate Disloyalty were the wrongs here.
One id here, and I've been saying sell since $33.50, you've pounded the table as a buy even as it ran back up to $23. Anyone listening to you has lost half or more of their money. Anyone listening to me has not lost half of their money. Historically speaking, anyone knowing this that still listens to your stock advice, your name calling, and your lies deserves to lose their money. You've bragged in the past about not being a big loser because you came to the game after the big drop from the 30's. With 40,000 in paper losses, it's safe to say you're a big loser.
You're going to get sick feeling just like Cleveland if it drops to $6, and believe me it could.
Book value is dropping just like the share price, traders think it's still overstated. Your other theories are wrong on all accounts. Newbies, avoid this guy's advice like the plague.
Follow the advice of Cleveland at your own peril. Someone you talks with such certainty is usually wrong as has been the case with him. Down 40,000 in a couple of months and still pounding the table with buys, he must be a paid pumper, nobody is that stupid.
Cleveland has an average basis, according to him, in his previous 7,000 shares of 17.20. So he's down 40,000, and he's grasping at the falling knife. All indications are that oil is going to $40 or lower, and commodities aren't done dropping yet. When does he stop pumping this stock trying to lure in the unaware?