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Stephen Rosenman
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Stephen Rosenman enjoys analyzing the financial health of companies and pointing out areas the market is either not recognizing or ignoring. A long time investor, I put my money where my mouth is. That's why I'm passionate about my positions. I trumpet companies I believe in and back my articles... More
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Stephen Rosenman
  • Which is rising fastest: Gold, Copper, Corn, Tankers? 2 comments
    Dec 6, 2010 8:53 PM | about stocks: FRO, NAT, GLD, JJC

       What's gone up the most over the last 3 months?  Gold? Copper? The Baltic Dry Index? Wheat? Corn? Oil? Oil Tanker Charter Rates?
       Answer: Oil Tanker Charter Rates.  
       Oil tanker rates as measured by the DBTI (Dirty Baltic Tanker Index) are up 38% over the last 3 months.  Wasn't the oil tanker business supposed to be dead with all the new ships.  The DBTI kills the performance of everything else listed above.   Corn futures gained 32%.  Wheat rose 10%, oil by 18%, gold up 15%, copper climbed 21%.  The Baltic Dry Index collapsed 25%.
        You wouldn't know oil tanker rates are up big by looking at the companies.   NAT is off 6%.  FRO is down 9%.  Traders haven't been looking at the recent boom in   rates.  Those rising charter rates will translate into higher earnings down the road. Investors need to look again at these companies.

     

    Disclosure: I am Long NAT.

    Stocks: FRO, NAT, GLD, JJC
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