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Old 05-27-2010, 08:33 AM   #41
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I bought some more BP today. Just for fun. The low earnings was some kind of glitch in Yahoo.
Good move. Looks like they have plugged the oil leak. Stock up $2.36 this morning.
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Old 05-27-2010, 09:22 AM   #42
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Just rent a supertanker, and a giant shopvac. All the oil you'll ever need is floating around in the GOM, ready for the taking...
That is the very very sad thing. All of the oil spilled so far doesn't come close to the amount of oil the US uses in one DAY.
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Old 06-01-2010, 05:42 PM   #43
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maybe now is a good time to buy?

i'll pass though. maybe invest a hypothetical $10k when the time is right...
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Old 06-09-2010, 01:54 PM   #44
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Below $30 per share today. Is now the time to buy?

I would really like to make some money on a stock that has been unfairly beaten down. I need someone to tell me some good things about BP so that I can get on the band wagon.
They bought ARCO years ago. This was a good thing for many reasons. This is why I owned it once upon a time. Now I look at this stock and I see the General Motors of the oil industry.

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Old 06-09-2010, 03:42 PM   #45
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BP has problems with getting new product to market, on time.

Their "Pre-Fueled Pelicans" product arrived too late, missing the all-important Memorial Day cookout market.
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Old 06-09-2010, 03:46 PM   #46
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I think a better question than when to buy BP is "Is buying BP a good idea at any price more than throwaway money a good idea?"

I don't think this questiona can be answered by an outsider, with the needed level of confidence.

So I would pass, and maybe look at other vehicles that have been affected one way or another by BP's problems.

Ha
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Old 06-09-2010, 03:58 PM   #47
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Below $30 per share today. Is now the time to buy?

I would really like to make some money on a stock that has been unfairly beaten down. I need someone to tell me some good things about BP so that I can get on the band wagon.
They bought ARCO years ago. This was a good thing for many reasons. This is why I owned it once upon a time. Now I look at this stock and I see the General Motors of the oil industry.

Free to canoe
As of its close today, yielding around 11.5% in dividends. Will it continue?
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Old 06-09-2010, 04:05 PM   #48
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below $30 per share today. Is now the time to buy?

I would really like to make some money on a stock that has been unfairly beaten down.
?

What would BP have to do to be "fairly" beaten down

DD
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Old 06-09-2010, 04:36 PM   #49
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I think a better question than when to buy BP is "Is buying BP a good idea at any price more than throwaway money a good idea?"

I don't think this questiona can be answered by an outsider, with the needed level of confidence.

So I would pass, and maybe look at other vehicles that have been affected one way or another by BP's problems.

Ha
Look at other E&P companies, would be my suggestion.

I am watching BP bonds. At a distressed price, they would be attractive, IMO. If the company goes into BK, all the civil claims get in line behind the bondholders, AFAIK.
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Old 06-09-2010, 04:45 PM   #50
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?

What would BP have to do to be "fairly" beaten down

DD
The scenerio could be that an accident happened, much like sometimes a crash happens and the affected airline stock, the company does the right things and a year later, the stock recovers. BP's view of this as a "public relations problem" reveals systemic problems with how their management views the world and solves problems in a favorable manner.


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Originally Posted by haha View Post
I think a better question than when to buy BP is "Is buying BP a good idea at any price more than throwaway money a good idea?"

I don't think this questiona can be answered by an outsider, with the needed level of confidence.

So I would pass, and maybe look at other vehicles that have been affected one way or another by BP's problems.

Ha
Interesting...

Quote:
Originally Posted by Telly View Post
BP has problems with getting new product to market, on time.

Their "Pre-Fueled Pelicans" product arrived too late, missing the all-important Memorial Day cookout market.


Free to canoe
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Old 06-09-2010, 04:54 PM   #51
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With a safety record like this, I wouldn't be investing in BP anytime soon.

BP: The Mother of all Egregious Violators | Credit Writedowns
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Old 06-09-2010, 06:45 PM   #52
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while marveling at bp's crazy volume today, a thought popped in my head...sell your 600 shares of CVX...this could have been anyone.

my hope is the dividend continues, most likely in a reduced amount.

and i agree with ha. and add a lot of political uncertainty with extreme amounts of risk.
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Old 06-09-2010, 07:52 PM   #53
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Exxon had the Valdez disaster, Union Carbide had Bhopal, and now BP has this GOM major eco damaging event. I would bet, a year from now BP stock will be back in the 60-70 dollar range. They may have some PR issues but you can bet they are working this problem hard in order to come to some form of resolution. It is too bad politics have entered into the equation and the Obama administration feels the need to keep their boot on the neck of BP. BP could have said, screw it and paid the $75 million cap and simply walked away. They are trying to do the right thing and getting beat up at every turn. The 24/7 press is feeding on this story like a shark that senses blood in the water. There is very little fair, balanced and objective reporting on this horrible accident and eco event. When all said is done, I think BP will be shown in a better light than the treatment they are currently receiving.

IMHO Tony Hayward was not the right man for the CEO job at this point in time and would have been better off keeping his mouth shut, the board has to be on pins and needles knowing Tony is going in front of congress next week. He won't be the CEO for long.
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Old 06-10-2010, 01:27 AM   #54
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It is too bad politics have entered into the equation and the Obama administration feels the need to keep their boot on the neck of BP. BP could have said, screw it and paid the $75 million cap and simply walked away. They are trying to do the right thing and getting beat up at every turn. The 24/7 press is feeding on this story like a shark that senses blood in the water. There is very little fair, balanced and objective reporting on this horrible accident and eco event. When all said is done, I think BP will be shown in a better light than the treatment they are currently receiving.
Along this line:
FT.com / Companies / Oil & Gas - Obama’s BP attacks spark worries in UK
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Old 06-10-2010, 06:21 AM   #55
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Poor, poor, BP. The politicians are saying such mean things.
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Old 06-10-2010, 06:40 AM   #56
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Exxon had the Valdez disaster, Union Carbide had Bhopal, and now BP has this GOM major eco damaging event. I would bet, a year from now BP stock will be back in the 60-70 dollar range. They may have some PR issues but you can bet they are working this problem hard in order to come to some form of resolution. It is too bad politics have entered into the equation and the Obama administration feels the need to keep their boot on the neck of BP. BP could have said, screw it and paid the $75 million cap and simply walked away. They are trying to do the right thing and getting beat up at every turn. The 24/7 press is feeding on this story like a shark that senses blood in the water. There is very little fair, balanced and objective reporting on this horrible accident and eco event. When all said is done, I think BP will be shown in a better light than the treatment they are currently receiving.
I agree completely, although I think $60 to $70 in about a year may be somewhat optimistic.

That being said, the negativity was pretty heavy yesterday ref: dividend cuts and a possible bankruptcy and BP volume was extremely high on the NYSE yesterday, I suspect that some level of capitulation took place. I took a chance on a small position below $30 per share. But I fully recognize it is more of a gamble than an investment at this point.



PS - I still dont see many cars at their gas stations.
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Old 06-10-2010, 07:03 AM   #57
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BP is too big to fail.
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Old 06-10-2010, 07:51 AM   #58
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Below $30 per share today. Is now the time to buy?

I would really like to make some money on a stock that has been unfairly beaten down. I need someone to tell me some good things about BP so that I can get on the band wagon.
They bought ARCO years ago. This was a good thing for many reasons. This is why I owned it once upon a time. Now I look at this stock and I see the General Motors of the oil industry.

Free to canoe
Calling BP the GM of the oil industry might make a very strong argument against buying their stock. GM stockholders lost all of their investments, didn't they?
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Old 06-10-2010, 09:23 AM   #59
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BP is too big to fail.
Exactly! Along the lines of the Penn Central.

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Old 06-10-2010, 09:29 AM   #60
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Would be awful funny if BP would be taken over by some Chinese oil company.

If this incident was caused by some American company like Exxon, I think the press as well as the administration would be taking a much different tone.
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