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05-27-2010, 07:33 AM
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#41
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2005
Location: Central MS/Orange Beach, AL
Posts: 9,067
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Quote:
Originally Posted by Ed_The_Gypsy
I bought some more BP today. Just for fun. The low earnings was some kind of glitch in Yahoo.
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Good move. Looks like they have plugged the oil leak. Stock up $2.36 this morning.
__________________
Retired 3/31/2007@52
Investing style: Full time wuss.
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05-27-2010, 08:22 AM
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#42
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Thinks s/he gets paid by the post
Join Date: Jun 2006
Posts: 2,068
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Quote:
Originally Posted by HFWR
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...
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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.
__________________
"We do not inherit the earth from our ancestors, we borrow it from our children.
(Ancient Indian Proverb)"
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06-01-2010, 04:42 PM
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#43
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Full time employment: Posting here.
Join Date: Apr 2010
Posts: 853
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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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06-09-2010, 12:54 PM
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#44
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Thinks s/he gets paid by the post
Join Date: May 2008
Location: Cooksburg,PA
Posts: 1,873
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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
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06-09-2010, 02:42 PM
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#45
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Thinks s/he gets paid by the post
Join Date: Feb 2003
Posts: 2,395
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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.
__________________
-- Telly, the D-I-Y guy --
Two fools dancing on the hands of time
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06-09-2010, 02:46 PM
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#46
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2003
Location: Hooverville
Posts: 22,983
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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
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
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06-09-2010, 02:58 PM
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#47
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Full time employment: Posting here.
Join Date: Apr 2009
Posts: 939
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Quote:
Originally Posted by Free To Canoe
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
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As of its close today, yielding around 11.5% in dividends. Will it continue?
__________________
I used to be “Thinker25” here. Retired at 62, now 73 (in 2021), no regrets & single again. I love it. I’m in RI.
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06-09-2010, 03:05 PM
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#48
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Thinks s/he gets paid by the post
Join Date: Aug 2007
Posts: 1,224
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Quote:
Originally Posted by free to canoe
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.
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?
What would BP have to do to be "fairly" beaten down
DD
__________________
At 54% of FIRE target
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06-09-2010, 03:36 PM
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#49
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2003
Posts: 18,085
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Quote:
Originally Posted by haha
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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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.
__________________
"All animals are equal, but some animals are more equal than others."
- George Orwell
Ezekiel 23:20
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06-09-2010, 03:45 PM
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#50
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Thinks s/he gets paid by the post
Join Date: May 2008
Location: Cooksburg,PA
Posts: 1,873
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Quote:
Originally Posted by DblDoc
?
What would BP have to do to be "fairly" beaten down
DD
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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.
Quote:
Originally Posted by haha
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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Interesting...
Quote:
Originally Posted by Telly
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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Free to canoe
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06-09-2010, 05:45 PM
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#52
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Full time employment: Posting here.
Join Date: Apr 2010
Posts: 853
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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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06-09-2010, 06:52 PM
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#53
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Thinks s/he gets paid by the post
Join Date: Oct 2002
Location: Chattanooga
Posts: 3,878
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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.
__________________
Earning money is an action, saving money is a behavior, growing money takes a well diversified portfolio and the discipline to ignore market swings.
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06-10-2010, 12:27 AM
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#54
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2003
Location: Hooverville
Posts: 22,983
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Quote:
Originally Posted by frayne
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.
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Along this line:
FT.com / Companies / Oil & Gas - Obama’s BP attacks spark worries in UK
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
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06-10-2010, 05:21 AM
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#55
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Sep 2005
Posts: 5,381
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Poor, poor, BP. The politicians are saying such mean things.
__________________
Retired early, traveling perpetually.
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06-10-2010, 05:40 AM
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#56
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Recycles dryer sheets
Join Date: Apr 2009
Posts: 206
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Quote:
Originally Posted by frayne
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.
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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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Love others. Forgive. Be kind.
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06-10-2010, 06:03 AM
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#57
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Full time employment: Posting here.
Join Date: Dec 2006
Posts: 886
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BP is too big to fail.
__________________
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06-10-2010, 06:51 AM
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#58
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Thinks s/he gets paid by the post
Join Date: Jun 2006
Posts: 2,068
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Quote:
Originally Posted by Free To Canoe
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
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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?
__________________
"We do not inherit the earth from our ancestors, we borrow it from our children.
(Ancient Indian Proverb)"
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06-10-2010, 08:23 AM
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#59
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2003
Location: Hooverville
Posts: 22,983
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Quote:
Originally Posted by Trek
BP is too big to fail.
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Exactly! Along the lines of the Penn Central.
Ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
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06-10-2010, 08:29 AM
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#60
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Thinks s/he gets paid by the post
Join Date: Oct 2002
Location: Chattanooga
Posts: 3,878
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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.
__________________
Earning money is an action, saving money is a behavior, growing money takes a well diversified portfolio and the discipline to ignore market swings.
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