Since ethanol is a subsidized fuel with multiple political agendas support it, I guess it does not need to respond to economic reality of WTIC price? One could argue that as WTIC demand diminishes, and US energy independence progresses, that there might be even greater pressure to further ethanol subsidies. It gets quite complex. For now, ethanol play looks "on"
Is there a symbol on Yahoo to track ethanol price?s there a symbol on Yahoo to track ethanol price? I am trying to avoid the need to track individual commodity contracts.
Totally agree with you that iron ore miner stocks are just reflecting horrific trend of iron ore commodity.
That said, $100 iron ore requires very large capex budgets in China and would not be supported by just US demand for Chinese goods. Most of the Chinese capex in building cities in the last decade has been largely government-sponsored fiscal policy resulting in massive overbuilding of infrastructure. I have problems believing $100 iron ore is sustainable.
Management has a history of diluting shareholders and overcompensating itself with large pieces of of the equity. Book value is defined with strange accounting transactions and no one is really sure what the actual book value is.
Technically, I love the chart here. I think the mortgage business is likely to have upside surprises end of year. But it's harder to make a value argument when you aren't quite sure what book value means here.
Are there any decent symbols trading on the US market that you think reflect well Brazilian macroeconomics? Anyone tracking Brazilian Real in a stock symbol, or groupings of various Brazilian equities in a pure index (not a heavily manipulated mutual fund)?
I am looking for a short list of mortgage orginators whose stocks have formed a broad base in the last six months, but who also trade options that go out until at least 2015 and preferably LEAPS to 2016. Does anyone know of some?
Pretty darn weird that a Fed warning to take liquidity out of the stock market would affect iron ore stocks, which have already been burned to the ground and left for dead. Would make a whole lot more sense to sell down all of these ridiculous PE 160+ stocks that are chasing Internet growth, social media, etc.
Oversupply of IO is already in the price of these stocks, and has been for most of 2014. That's not why they gapped down.
And what matters to earnings is not whether there is oversupply of ore. What matters is whether the long-term price can hold at a level that makes a marginal producer like Cliffs profitable. They don't need an undersupply to make money. All they need to do is beat expectations, which have already been beaten down considerably.
Can you cite specific clauses in their credit agreement that forbid them raising more money through the preferreds?
Isn't there a good legal basis for MBI initiating a suit to withdraw its insurance on Puerto Rican utility bonds? Don't the laws that the Puerto Rican government has passed completely change the risk profile of the insurance? Surely the insurance contract allows the insurer to withdraw its insurance when risk profile is change in bad faith?
What is the CUSIP for the bond that is due? If Tower defaults, where do those bondholders stand in the debt structure and how much of the reorganized entity would they end up owning?