Dawg52
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Looks like all the $2 shares I bought are working out.
Congrats! I barely had the b*lls to hang on to what I had. I guess that's why I suck at investing.
Looks like all the $2 shares I bought are working out.
Congrats! I barely had the b*lls to hang on to what I had. I guess that's why I suck at investing.
I am thinking again about dry bulk. NM, EGLE, DSX. I notice that EGLE suspended it's dividend this year. On the other hand Fidelity reports that NM & DSX have more aggressive accounting standards.
I am looking for a dividend stock but don't want one that can't sail through rough financial seas. Comments, please, from those that follow the industry.
EGLE stock is my Saint's back in the decades when they never made the playoffs.
Hope springs eternal. Plus it's a very small holding - to keep the hormones happy. The Norwegian widow is still ticked about the div cut though.
I have more heartburn with my financial sector stocks - more likely to favor dragging out the guillotine on those guys - BAC, JPM, C, UBS.
heh heh heh - shipping in my mind as always more of a deep cylical crap shoot. .
Crap!
LONDON—Uncertainty over how many new ships will be built this year is expected to marginalize a popular measure of the global economy's health—the Baltic Dry Index.
The index, a measure of shipping costs, gained importance over the last decade as a key gauge not just for the shipping industry but the global economy. Due to the shipping industry's stable supply structure, the index was touted as a good proxy for overall demand for raw materials, the basic building blocks of an economy.
But with an unusually large number of ships scheduled to come into operation in 2010, the index no longer presents such a straightforward view of raw-material demand, and hence economic growth.
. . .
Ships take about three years to build, making supply both easy to predict and relatively inflexible. Moves in the cost of shipping have, therefore, been largely the result of fluctuations in demand for the commodities they carry.
But the stability is now faltering, some analysts say.
"What you're witnessing is a huge number of ships ordered during the peak of the market in 2007-08 being delivered now due to the usual lead times involved," said Amrita Sen, a commodities analyst at Barclays Capital in London.
. . .
"The BDI can reflect increasing levels of global trade, but it can give misleading impressions, especially with the supply issues this year," said Lambros Varnivides, head of shipping finance at Royal Bank of Scotland in London. . . . While the index might not be an ideal guide, Mr, Varnivides notes that other indexes can be useful complements.
He said the Australian Coal Port Congestion Index and Capesize Iron Ore Port Congestion Index for China, both published by Simpson, Spence & Young, a major shipbroker, are worth watching, along with the Baltic Dry Index.
Wasn't so bad, I bought another 1000 NM just for the heck of it
Picking up this subject again... There will be a lot of wheat on ships this year so I looked again at dryships. NM, and DSX are paying dividends and making profits in excess of the dividend but analysts think they stink. EXM, however, is making a 10% profit but not paying a dividend and rated a buy. Any news about this sector that would make me want to buy?
Brewer, what is your take on NM currently? Too soon to add more here? I've been reinvesting the divs -- the shares start to add up after a while. If they had not kept their div, I'm not sure I would have held this long. I am still in the black though since I added during the sale in the low $2s.