And if it does, I will buy back in the 90s. I like MON, had it for years, sold it today for 106 something. Big Bayer holders are aghast so expect resistance there. Recall that in Germany, states are often big influential shareholders so politics plays a big part. I don't know if this is the case for Bayer.
Not waiting, took 106.20 for mine. Made a few thousand. If the deal goes through at $122, I left $18K for someone else but I do not believe that this deal will go through. GLTA.
Stick them on DRI and put them in a drawer. Albert (supposedly) said that compound interest is the most powerful force in the universe so stay on the correct side of it.
Hmm, sounds like the home mortgage debacle of 07-09 where people who overextended were able to walk away while those of us who are responsible debtors ended up paying twice (once for our own mortgage and once for theirs via stock market and bond disasters).
Well my cost isn't 10 and it certainly isn't 2, rather about 8. With DRI, it is slowly lowering and dividends are compounding. In 36 days, I will become a FTR customer. I hope that it goes smoothly.
The 10/2018's that I have are trading right around par. The lowest priced FTP bond is 1/2025 with YTM of 10.2%, last price 80.4.
Finally an Obama and the Democratic Party success. They made the USA economy so bad that Mexicans are fleeing back to Mexico.
IIRC there was an estimate awhile ago that the USA had about 200+ yrs of coal reserves at a historical consumption rate. While it's true that we are producing large amounts of oil today, I don't think that the USA has 200+ years of oil or natgas reserves at the rate it is being produced today. Obviously coal is not oil but it is a direct replacement for natgas which has other uses than for producing electricity. It is clearly dirtier but I have confidence that technology can come up with an economical way to fix that.
You should always be a bit cautious focusing on discount to asset value because the only accurate asset value is what you get in a sale. IOW when the entire industry is ailing, you may not get what you expect from selling an asset.
Perhaps with the ME heating up, people are clueing in that losing a big chunk of SA oil may goose coal consumption. Not that very much oil is burned for electricity but it may make people think about secure energy supplies.
FTR is an ok outfit at this price. They did better at integrating their first big VZ asset purchase than I expected. I hope this one does well as I will become a customer as well as shareholder. If you buy it around 4.5-5, dri the divs and let it compound.
The only way that I see that happening significantly in 2016 is if there is a govt collapse, i.e. civil war, in SArabia. The SAs need cash flow to pay off their restive population, a large part of which is under 30, so they will keep at it.