I got out in Dec 2013 at $15. I had been following Petrobras and a Brazilian friend of mine told me about all the corruption in the govt. and how the politicians used both Petrobras and Vale as "piggybanks". I believe that the company can come back to at least $15 but the crooked politicians need to go and the I/O supply/demand imbalance needs to be better. Unfortunately, both of these things will take a couple of years
I know that you are hated on this message board but thanks for your posts which were spot on
What are you talking about. Try some high octane coffee before posting
If they start increasing profits and it goes above $10, then I would consider buying it. Right now, I'm afraid to buy the company
I sold at b$40 for a loss. That joker Cramer had the former CEO on the Mad Money show and was hyping CLF. I lost on the trade
I've been out of Vale for some time, but I remember you stating that the stock was going down.
Will it take more than a year for the supply/demand imbalance to get back in balance?
I agree, but I still remember what happened to Sea Drill last November. In the preceding CC, the SDRL CEO state that the dividend was safe and then eliminated the $4 dividend . The stock dropped from $20 to 16 in a few days. Mgmt has consistently stated that the $1.50 NE dividend was safe and they are committed to paying it. If they eliminated it or drastically slashed it, we would see 52 week lows again
Please don't cast even the hint of doubt with talk about a delay in the launch of Triferic. Let's hope that they meet the committed Triferic launch or we will tank....just like before
Right now, there are more rigs out there than there is work for them. When oil was $100+, the drillers started building on spec. without contracts. Now that oil has collapsed, capex cut by the big integrated companies, day rates are falling. This will all play out in due course, but the question is how long will it take? Are we looking at the 2nd half of 2016, 2017 or later?