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Old 11-13-2008, 04:49 PM   #301
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Interesting thread from Google Finance: Google Finance: Navios Maritime Holdings Inc.
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Old 11-13-2008, 07:27 PM   #302
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Hey Dawg, I'm holding 4000 at about 15. Make you feel any better that you're not alone?
1700 shares at 14.71

Ouch.
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Old 11-13-2008, 10:01 PM   #303
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Wow, you got me beat. I have 3,200 shares at 10. I'll take a med for you.
You know, I asked you to quit drinking Bud for a while. I had a buy order in at $50, and it was heading that way fast. Then you started the self medication and the darn stock has gone up 20% since then. Its the only stock I tried to buy that didn't make it down to my limit order. Thanks for nothing!
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Old 11-14-2008, 06:19 AM   #304
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You know, I asked you to quit drinking Bud for a while. I had a buy order in at $50, and it was heading that way fast. Then you started the self medication and the darn stock has gone up 20% since then. Its the only stock I tried to buy that didn't make it down to my limit order. Thanks for nothing!
I should have bought the stock when I started to medicate.
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Old 11-17-2008, 08:30 AM   #305
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Wow, you got me beat. I have 3,200 shares at 10. I'll take a med for you.
I own some NM too (bought more around $2). Unless bankruptcy is in the cards (which seems very unlikely), this one appears way undervalued. Guess we will know more at the close today when they report earnings.
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Old 11-17-2008, 04:23 PM   #306
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Well here is the report on NM. Doesn't look too bad considering.

Navios Maritime Holdings Inc. Reports Financial Results for the Third Quarter and Nine Months Ended September 30, 2008: Financial News - Yahoo! Finance
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Old 11-17-2008, 04:30 PM   #307
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Yup, with any luck we could see the 2's and I'll only be down around 50K.
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Old 11-17-2008, 04:41 PM   #308
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Yup, with any luck we could see the 2's and I'll only be down around 50K.
As my old Grandmother used to say,"Jesus, Mary and Joseph!"

Well one implication is that you are very rich, so congrats on that.

Ha
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Old 11-17-2008, 05:18 PM   #309
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Amen!
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Old 11-18-2008, 07:34 AM   #310
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the bad news is that NM is burning cash
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Old 11-18-2008, 09:55 AM   #311
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I bought more NM at $1.65. I just cant help myself. I'll have to figure out my avg share price now. Maybe I'm below $10 now.
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Old 11-18-2008, 09:58 AM   #312
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why?

earnings are down and they are burning cash putting them at risk for BK in the next 12 months due to negative cash flows from operations. they burned through something like $200 million in the last 9 months and have $121 million left
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Old 11-18-2008, 10:07 AM   #313
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I bought a whopping 750 shares at $1.65. My avg price is around $7. Not a big deal. Ive lost more than this in a month playing golf. I'm also adding some to GE and BAC. No real reason except I already hold them and bough much higher.
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Old 11-20-2008, 11:19 AM   #314
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Guess what, I own EGLE also. After this little 30% drop I'm down as much on it as NM.
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Old 11-21-2008, 12:22 AM   #315
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Shippers Breaking Their Covenants - Forbes.com
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Old 11-25-2008, 05:32 PM   #316
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Yup, with any luck we could see the 2's and I'll only be down around 50K.

I feel your pain 73 (we're on a first number basis). I'm using more shares of NM and EGLE as liniment.
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Doin' the tax loss tango
Old 11-27-2008, 03:01 PM   #317
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Doin' the tax loss tango

Ok ladies and gentlemen, I am piker compared to you guys, but I do have 4000 units and close to $10,000 in NM losses. Another $5000 or so realized loss would take my income below the threshold where I have to pay increased Medicare premiums (a back-door tax that falls only on older people with good incomes).

It seems to me that I do want to keep my shipping exposure- no sense buying high and selling low, when I know no particular reason why shipping should get much worse than is factored into NM's price.

I can get the loss I need for my objective by selling 2000 shares of NM. I could buy another 2000 units tomorrow morning, and sell 2000 just before year end, avoiding the wash sale rule. My risk is that I have somewhat more money exposed in this stock for a month.

Another idea is to sell 2000 NM, and buy a similarly safe (or similarly unsafe) shipper that is also cheap.

Any ideas as to candidates for strategy #2?

Also, will I be OK as to wash sale if I buy NM tommorrow 11/28, and sell some NM on Dec 31? Looks to me that this should be OK.

Ha
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Old 11-27-2008, 04:08 PM   #318
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I own NM and think they are better positioned than most in the sector (to weather the slowdown), so I like your idea to buy more now and sell some after 30 days. As long as you wait at least 30 days, no wash sale issues. Plus, you would also get the dividend on the additional 2000 shares since it goes ex-div on 12/18.
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Old 11-27-2008, 04:43 PM   #319
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If you want another option, I like (and own some) ULTR, which is arguably riskier although more diversified. Other possibility which I have not fully investigated is HOS.
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Old 11-27-2008, 06:42 PM   #320
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I bought some PRGN a week ago and still like it for the time being. But it has gone up about 70% this past week so you may want to consider the possibilities that it could re-test its low before buying.
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