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Ilioula

Ilioula
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  • When Elephants Fight, Ants Perish - Exxon Mobil, Seadrill And EU/USA Sanctions [View article]
    Not to mention litigation expense possibly being off the charts for another Macondo desaster. My assumption is that the majors will avoid older rigs of every sort. Therefore, E&P companies will be forced to upgrade and retire a larger portion of fleets than anticipated. Good news for SDRL. The situation looks bleak, as it always does just before the dawn.
    "Hard pounding this, gentlemen...try who can pound hardest!"
    Wellington before Waterloo.
    Sep 15 08:23 AM | 3 Likes Like |Link to Comment
  • I Feel Like A Thief Buying IBM At Today's Low Valuation [View article]
    No...everyone is an amateur and the only attitude that should matter is one's own.
    My family has owned IBM since 1974; I sold my inherited shares two years ago. The price I sold was the same as the price I inherited the shares-no gain, none. Simply stated IBM's strategy won't work. Granted, they have a huge legacy business which won't go away any time soon, however the high margins they expect in the future will simply not materialize. Their lunch will be eaten by low margin rivals and those fat margins everyone expects will not appear.
    Worse, they are trying to get rid of the very business which could ensure their future, namely their crown jewel, R&D.
    They should be attempting to monetize their patient library and form partnerships aimed at bringing products and services, based on those partnerships, to market ASAP. The company is blocking innovation, not supporting it. They are throwing away their main chance! It is the most foolish waste of genius I've ever seen.
    Aug 10 10:29 AM | 1 Like Like |Link to Comment
  • Big Banks Hit With Monster $250 Billion Lawsuit In Housing Crisis [View article]
    There are two camps here. Those familiar with banking and those not. I am-this was a massive, willful fraud from the word go. Does anyone think a bank would, or should lend an unqualified credit $500 large (for the bank's own portfolio)? They never would thus they, and all the associated servicing organs too were a party to this, everyone, guilty.
    This could not have occurred otherwise. The problem really is that the only bank casualties are the share holders; as usual.
    Jul 16 08:46 PM | 4 Likes Like |Link to Comment
  • Atwood optimism no help today as Seadrill sinks on convertible sale [View news story]
    It is the application of leverage. Mgmt. sees opportunities. Look only at the potential of the Rosneft deal.
    Jul 8 05:17 PM | Likes Like |Link to Comment
  • New York Mortgage Trust with 13M share secondary [View news story]
    Stock issued at a premium is what u want to see. Great management.
    Apr 1 10:49 PM | 2 Likes Like |Link to Comment
  • New York Mortgage initiated a Buy at UBS [View news story]
    I've owned NYMT since 11/2011. It paid compounded dividends for all this time at a price lower than my initial investments. When the stock price moves above nav all newly issued stock is accretive-the higher the price the more accretive. Reits and BDCs both issue additional shares above nav, when they can. So, I'm not really concerned, I'm happy.

    This is a very good investment.
    Mar 23 07:57 AM | Likes Like |Link to Comment
  • Hercules punished for conservatism amid frothy market [View news story]
    I read the transcript and fully agree with management. Banks have lots of capital and not much sense.
    Feb 28 01:44 PM | Likes Like |Link to Comment
  • Seadrill could be headed for a dividend cut, Wells Fargo says [View news story]
    The dividend is very nice, however it is not why I own the company. The replacement cost (of oil) will recover and unless water becomes the fuel of choice, oil will rise. The reasons for owning the stock have not changed.
    Feb 12 01:26 PM | 2 Likes Like |Link to Comment
  • Deepwater drillers could plunge 35% on average, Barclays says [View news story]
    Knowing bankers as I do, my first thought was "market manipulation." Most readers of this column know the virtues and vices of SDRL and have made their call. But...there was something funky/uninformed/lazy about this Barclay call. TP bulls eye.
    Jan 28 06:45 PM | 1 Like Like |Link to Comment
  • Is It Time To Buy The Dip In IBM? [View article]
    IBM is a software/hardware services co., and a huge high tech patient library asset (which unused is a wasting asset). This asset must be monetized and voila' IBM has a whole new source of capital.
    Aug 15 07:29 PM | Likes Like |Link to Comment
  • Hercules Technology Growth Capital Inc declares $0.28 dividend [View news story]
    I own four BDCs and all have performed very well. It is not easy to squeeze dividend growth out of what is essentially a bond investment. I also like BDCs because they are such a backwater in the investment world-I don't know for ho long though.
    My background is banking (lending and investments) and BDCs are the types of credits with which I have had long experience.
    These investment in fact enjoy huge advantages to banks' lending restrictions; they are flexable tools by which lenders can tailor their risk exposure.
    Aug 2 08:10 AM | Likes Like |Link to Comment
  • IBM (IBM): Q2 EPS of $3.91 beats by $0.14. Revenue of $24.92B (-4.2% Y/Y) misses by $450M. $1B restructuring charge recorded. Expects 2013 EPS (exc. restructuring charge) of at least $16.90, above consensus of $16.64 and prior guidance of $16.70. Shares +3.6% AH. CC at 4:30PM ET (webcast). (PR[View news story]
    The tech space is in the midst of one of its famous bouts of creative destruction. Everyone's numbers are stinking the place up...'nough said.
    Big Blue is still going to prosper as they have global reach, financial depth and that formidable patient library. Speaking of which, as I have said more than once in these pages, IBM's high tech patient portfolio is it's hidden treasure. If only they have the clear eyed vision to turn creative, cutting edge patients into billions from collaborations from other tech companies. This is NOT how the company operates and it has suffered from this lack of synergy.
    Jul 18 08:08 AM | Likes Like |Link to Comment
  • UBS and Raymond James downgrade Accenture (ACN -13.2%) following an FQ3 revenue miss market by light consulting sales/orders, and soft guidance. UBS' Steve Milunovich, who now rates shares Neutral: "With Oracle and Accenture missing, enterprise demand appears to remain weak, which probably means a soft earnings season for large computer names." He thinks IBM (IBM -2.8%) could still deliver 2H services growth due to less consulting exposure and strong orders, but believes risk has grown. (FQ3 results/call: I, II, III) (CC transcript[View news story]
    AWS is eating everyone's lunch. I own IBM but after their Q1 miss I sold over half my holdings. I'm glad I did too. What I don't understand is why big blue doesn't monetize it's patient library; it's the biggest (by far) and best holding they have and it just sits there. Instead of optimizing the value in their assets the company does bolt-on acquisitions. I've read that the company finds it easier going this route. But pardon me, aren't they supposed to be the great innovators?
    Jun 29 07:33 AM | Likes Like |Link to Comment
  • Seadrill (SDRL) increases its stake in struggling rival Sevan Drilling (SDRNF.OB) to 50.1% and will make a mandatory offer for the rest of the company. SDRL is reacting to Sevan's recently revealed financing plan to issue $500M in senior secured bonds and finalize a $1.45B corporate bank facility to refinance outstanding debt, which SDRL calls "value destructive for shareholders." [View news story]
    No one buys assets expecting to lose money do they.
    Jun 27 10:35 AM | Likes Like |Link to Comment
  • Prospect Capital (PSEC) puts more money into Florida real estate, closing a $76.5M debt and equity investment in The Resort - a multi-family residential community in Pembroke Pines. The investment brings the amount invested in APH Property Holdings to $151.6M. Total originations thus far this year are $1.4B vs. $3B for the 12 months ended March 31. (PR[View news story]
    My investment thesis is that a slow growth environment is great for BDCs; REITs and even some High Yield (larger than average coupon) investments. Insider buying is usually a great indicator of management confidence.
    Jun 27 10:22 AM | Likes Like |Link to Comment
COMMENTS STATS
30 Comments
19 Likes