Seadrill: High Valuation Relative To Its Competitors [View article]
7 Drillships (of which 3 under construction) 1 harsh env. 6 ultra deep-water 12 Semisubmersibles (of which 2 under construction) 6 harsh env. 8 ultra deep-water 21 Jack ups (of which 6 under construction) 2 harsh env. 19 Tender and semi tender rigs (of which 3 under construction) Total is 59 units including ones under construction.
Why I Am Short The U.S. Solar Industry [View article]
Industry contraction is hard to judge though since prices are falling rapidly. The contraction was a reference to declining revenue at FSLR, which I would expect to see at other manufacturers, but they still might have increased shipments in terms. However, one would expect to see quite a bit of activity this Q4 as developers rush to qualify for the cash grants.
Why I Am Short The U.S. Solar Industry [View article]
You have a lot of incorrect statements in this article. NRG does not manufacture solar modules. They are an asset developer and a utility. There is an enormous difference. FirstSolar also has posted positive gross margin in each of the last four quarters. Their production costs are substantially below $1 per Watt - go look at their quarterly earnings presentations. It is true that the industry is contracting and federal support looks to be waning since the 1603 Cash Grants (in lieu of the Investment Tax Credit) will expire at the end of this year and it seems doubtful that it will be extended again. Note that the cash grant benefits asset developers which hence indirectly benefits module manufacturers.
Mining Companies Not The Best Way To Bet On Silver [View article]
I think your second paragraph says it all. I suspect the investors in gold are much happier than the investors in Newmont if your numbers are correct.
I would also comment that all miners are different, if you are looking for a leveraged position based on a rising commodity price you want to look at the companies with the highest cash cost. As commodity prices rise, these miners get the largest percentage boost to their cash flow. (Assuming they've not hedged their production already)
Mining Companies Not The Best Way To Bet On Silver [View article]
No, pure commodity exposure versus indirect commodity exposure through mining companies. Lots of other things going on at mining companies that can impact their exposure to the commodity price.
Mining Companies Not The Best Way To Bet On Silver [View article]
If you think silver is going to rise, it is possible to buy marginal miners to get a very leveraged return; however, without doing enough homework you could very easily get burned. Five months ago I looked at the most leveraged miners to gold using a beta type calculation. In some cases it worked and in others it did not. There are lots of decisions management can make to change there exposure to the underlying commodity. If you look at gold vs. gold miners over the past 6 months and you took the miner bet you probably lost out to GLD (or the physical if that is your preference) and quite possibly lost on an absolute basis.
The Jobs Situation Deteriorated A Long Time Ago [View article]
Yep, you're right, I had a couple blank lines that got added up for him on the spreadsheet. his losses would be -78.4 k per month for overall, -20.0k for government employment, -58.4k per month for non-government, and -25.9k for manufacturing employment. The democrat averages would also increase slightly from 147k for total to 151.4k. I'll send in a change request.
The Jobs Situation Deteriorated A Long Time Ago [View article]
Non-government jobs posted a net loss allowing the government jobs to be more than 100%. The total increase in employment was about 1.1 million, comprised of an increase in government employment of 1.7 million and a decrease in non-government employment of about 0.6 million. So 1.7/1.1 = ~160%.
Large Tech Giants Hoarding Cash? Why Apple Is Unique [View article]
Dividends will result in the stock value declining. If a company has $10 of value per share and then gives all the shareholders $1 per share then effectively each share is now worth only $9. So from the notion of the stock price dropping, yes dividends will always have a negative impact. Just watch any stock before and after the ex-dividend date. One could possibly argue that giving up too much liquidity (through dividend payments, stock buybacks, or anything else) could be detrimental to the company if it faces challenging times ahead and finds itself short of cash.
Seadrill: High Valuation Relative To Its Competitors [View article]
12 Semisubmersibles (of which 2 under construction) 6 harsh env. 8 ultra deep-water
21 Jack ups (of which 6 under construction) 2 harsh env.
19 Tender and semi tender rigs (of which 3 under construction)
Total is 59 units including ones under construction.
PriceSmart: Still Delivering Strong Operating Performance [View article]
Seadrill: Large Dividend Yield, Slowing Growth [View article]
Why I Am Short The U.S. Solar Industry [View article]
Why I Am Short The U.S. Solar Industry [View article]
Why I Am Short The U.S. Solar Industry [View article]
Mining Companies Not The Best Way To Bet On Silver [View article]
I would also comment that all miners are different, if you are looking for a leveraged position based on a rising commodity price you want to look at the companies with the highest cash cost. As commodity prices rise, these miners get the largest percentage boost to their cash flow. (Assuming they've not hedged their production already)
Mining Companies Not The Best Way To Bet On Silver [View article]
Mining Companies Not The Best Way To Bet On Silver [View article]
The Jobs Situation Deteriorated A Long Time Ago [View article]
The Jobs Situation Deteriorated A Long Time Ago [View article]
Large Tech Giants Hoarding Cash? Why Apple Is Unique [View article]
Optimizing Utility Dividend Stock Portfolios: More Yield, Less Volatility [View article]
Optimizing Utility Dividend Stock Portfolios: More Yield, Less Volatility [View article]
Seadrill: Large Dividend Yield, Slowing Growth [View article]