The gift was to allow GS short customers to cover before the Chinese loan became public. Gotta love GS as they play the game only they can do and only they have the info to do it,'IMHO
GS, Barrons, Kramer and many others seem more likely trying to cover their shorts not actually do an honest job of evaluation. They can talk all they want but the situation has changed and it will be even more obvious when the Chinese come with large buckets of money.
Thanks for that. It made me smile. I wish yahoo would segment threads so all the shorts and boiler room antics could be in one section and substance such a gov't regs changing, economic dev etc could be on a different thread.
You hit key issue. I don't know why shorts don't see it. Perhaps if the gov't would sell about 3% of its holdings so they no longer "controlled" the board it would send the total wake up call.
Unfortunately there are people like him who realize only so many posts make it on the top of yahoo and if he can fill them up with #$%$ we won't read valued notes which emphasize the significant changes to PBR that affect their ability to turn it around so it looks like a CNOOC or EXXON instead of a pet of the head of Brazil. These posters and shorts who refuse to cover will be reminded PBR used to be in the $70's and get get halfway there in a heartbeat with just a few analyst revisions which I expect shortly due to now having audited statements and a profit.
You do know that PBR sells gas not just barrels of oil. You do know PBR was priced as if it was going out and it didn't so the P/E is uniquely depressed no matter what the price of oil is. You do know that oil is expensive to ship yet China needs so much it is traveling to Brazil to lock in more of it. Maybe you don't know anything except how to make stupid statements into the internet.
IMHO cover and leave before you lose anymore!
Just the dumb ones who refused to notice gov't treatment changed, China loaned billions to insure liquidity, new management and audited statements ONTIME! Its not what were they thinking as they weren#$%$ more why weren't they even reading public notices .
FActors the market will consider as time goes on:
1 Analysts review audited results and revise view from strong sell to strong buy
2 Shorts have to cover as company got loan from China to make sure it could service debt
3 Gov't allowing sale of assets and less subsidy means it can run as business
4 Other large oil companies will join PBR for long term deals similar to what CNOOC does
5 Dividend may be restored which will bring in many buyers
6 Long term trade deals with China wills trengthen Real and help PBR
etc, etc, etc
There is plenty to criticize. There is plenty wrong with Brazil. There is plenty wrong with oil BUT the missing point in your arguement is that is does not relate to the current price of PBR. Would Exxon be a deal if it dropped to $10? Would CNOOC (CEO) a gov't controlled Chinese oil company be a deal if it dropped from $170/share to $25? PBR should be a $70/share stock not $10. Somewhere between all hell breaks loose and all is well is where the stock will go to. I think and it appears the markets also think all hell breaks loose is not as likely as its getting better. Pick your spot - $15, $20, $30, $50
Your an idiot!
Do you talk to your mirror the same way because we are listening about the same amount as your mirror.
SAD! SAD! SAD!
PBR is so oversold that most investors will be impressed they even produce results on time much less have any positive results. If the real value of PBR could be unlocked from all this local incompetnecy it would be a wild ride upwards
loved your response! For a "Wall Street guy" who thinks PSEC is relatively risky he should move his campsite to an upper Manhattan subway vent as there is a risk of lower Manhattan flooding too!
They are merely digging out of the hole the Sawiris deal put them into. I just wish they would admit the deal was dirty, stupid and highly destructive to what VIP was about before the debacle.
It would be so refreshing if these short screamers would at least admit what message board/boiler room or service told them what to say. Unfortunately there is not unlimited space on yahoo to block all of them and these boards are substantially unmanaged.
Most of the ills that brought PBR down have at least been recognized with someone working on solving the problems. Gov't control is being abated with CEO proving it with asset sales and changing pricing. No more subsidizing domestic consumption etc.
Patience will win the day.
We won't get back to $70 anytime soon but the street will accumulate smartly.
When management buys the stock with their own money it is totally unfair and untrue to say nobody trusts management. Management trusts management!
IMHO up from here.