Sunday, June 13, 2010

Aye, Aye, Captain!!

Are ya ready kids?
Aye, Aye captain!
I can't heeeaaar yooouuu!
Who lives in an oil spill under the sea?
Sponge Bob Square Pants!
Absorbent and yellow and porous is he.
Sponge Bob Square Pants!
If Hayward's gibberish be somethin' ya wish.
Sponge Bob Square Pants!
Then drop on the deck and flop like a dead oiled fish.
Sponge Bob Square Pants!


And how special was Matt Simmons--who said that BP would be bankrupt in less than a month just a couple days ago

only to pimp the stock as a buy two days later!!
Simmons BP                                                              


whydibuy said...

I agree that BP is probably in the buy zone although it may get another downdraft due to some news event. Buy in slowly.

These kind of scary times are almost always a good time to buy a great co at a discount.
One of my best hits was Philip Morris after the lawsuit announcement. I think this was in '99 when everyone said big MO would be bk. Jimmy rogers was saying buy leap puts since MO is finished, especially with the non smoking legislation that was coming out.

I bought MO all the way down to 19.25. I think it bottomed at 17 and change a couple months later. 3 years later it was 65.00 and going strong. And they never cut the dividend.

But believe me, it was scary as hell. This BP story is similar but with the exception that BP will lose 50 bil. But I think they can handle it.

Simmons is a wack job. He said NG peak would be '05 and we would be paying 15 mcf by now. Or that shale gas was a money loser uder 10 mcf. Gas producers are profitable now in the 5.00 range.

He owes some journalist money from a bet that oil would be 200 bbl by the end of '10, I believe. We'll see if he pays up. Wrong again.

Anonymous said...

whydidibuy leaves some great commentary

Anonymous said...

BP is going to 0.

Anonymous said...

BP IS 1/2 way there .....!

Anonymous said...

Whydibuy - good stuff.


Anonymous said...

whats your target on BP whydibuy? how far and how fast will it go up?

as far as buying in slowly, would you say 25% now? more less?

Anonymous said...

thanks for the tip whydibuy? thats really brave to make the same calls on bp as just about everybody else right now.

oh and you invest so ethically that i can see why you feel the need to call p out every chance you get.