Shares in Brazil's OGX Petroleum (OGXPY.PK -13.2%) slump as much as 17%, bringing its one-year...


Shares in Brazil's OGX Petroleum (OGXPY.PK -13.2%) slump as much as 17%, bringing its one-year plunge to near 90%, after the company controlled by billionaire Eike Batista had its credit rating cut by S&P. Adding to the poor sentiment is a Thursday report that Brazilian President Dilma Rousseff had refused to aid Batista's companies, which include LLX Logistica, now constructing the multibillion-dollar Acu Port.

From other sites
Comments (2)
  • fmarone
    , contributor
    Comments (20) | Send Message
     
    While it appears Battista personal worth keeps diminishing; let's not forget that OGXPY is a development company and to expect earnings and multiples now are ludicrous. Patience is a virtue and one has to expect that a serious partner will surely jump at the opportunity. I envision BG Pactual providing strategic advisement going forward
    6 Apr 2013, 02:47 PM Reply Like
  • BFZ12
    , contributor
    Comments (4) | Send Message
     
    I agree, people tend to act out of impulse. They see the stock losing value and they rush out without thinking twice. If you want to receive premium returns on your investments in need to be able to take some risk and above all, be patient.
    9 Apr 2013, 05:45 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs