Seeking Alpha


Send Message
View as an RSS Feed
View sstonerm3's Comments BY TICKER:
Latest comments  |  Highest rated
  • Seadrill: Now An Attractive 11% Yielder [View article]
    Love the naysayers. You've got to dig to understand the debt strategy. Long SDRL and SDLP.
    Apr 3, 2014. 11:29 PM | 3 Likes Like |Link to Comment
  • Seadrill - Investors Should Not Applaud The Recent Dividend Hike [View article]
    Hmmm, I saw the pull back as a buy opportunity. I have held a core position in SDRL and trade around that. So last time I sold was in the high 40's. The aspect some may not understand is the relationship with SDLP. So picture this. SDRL orders a $600M drilling unit and takes on new debt to purchase it. In the mean time it takes an exisitng asset (somewhat amortized asset) and drops it down to SDLP. SDLP pays cash up front, and assumes debt for the asset. SDRL then buys additional shares from SDLP to help them finance the dropdown. So SDLR has ownership shares and an asset in SDLP. SDLP then pays SDRL a growing dividend. SDLP works like an MLP except it trades as dividend paying stock.

    The net effect is SDRL is dropping older debt/assets off its books and getting a return on that, while taking on new debt and assets in the form of new builds. It's a virtuous cycle that enable it to grow its asset base and cash flow while managing it's debt.
    Dec 23, 2013. 11:27 AM | 3 Likes Like |Link to Comment
  • Matador Resources: Significant Growth Expected [View article]
    May 28, 2012. 02:42 PM | 3 Likes Like |Link to Comment
  • Ebix: Navigating Through The Legal Maze To The Upside [View article]
    Really now. The first attack was in March 2011. 18 months ago. Since that time we have had the SEC, state prosecutors and GS involved in looking at the company's business and accounting. GS decided to take it private, but then did take a pass, and I know government works slowly. But if this were truly a house of cards, wouldn't it have collapsed by now under the weight of all the scrutiny?

    I mean if I were GS and backed out because it was a house of cards, wouldn't I just short the hell out of it and then spill the beans? We are talking GS here.
    Sep 24, 2013. 12:35 PM | 2 Likes Like |Link to Comment
  • Emerging Markets Bonds Merging Toward Trouble [View article]
    Just checked up on ESD, it is B and above with a ~60% sovereign verses corporate. It is a T. Rowe Price fund yeilding 6.6 at its current price.
    Dec 20, 2012. 12:39 PM | 2 Likes Like |Link to Comment
  • Emerging Markets Bonds Merging Toward Trouble [View article]
    ESD is focused on emerging market sovereign debt. Been very good to me since purchasing in early 2011.
    Dec 20, 2012. 12:11 PM | 2 Likes Like |Link to Comment
  • Building A Portfolio, One Wish-List Stock At A Time [View article]
    When you are in the mood to buy something, you can get pretty contorted in convincing yourself that the price is right even if you know it could or should be lower for your entry. I've done it many times.

    If you take a stock report (I use S&P available from Schwab) and look at the 52 week high and low on stock over the last several years, it becomes apparent that there are excellent entry points every year. Disipline and patience are all that is required.

    The other strategy I employ is to buy just a small number of shares. I call these my place holder shares. Since they show up everytime I look at my holdings (way to much) I can watch the price and see when it is getting favorable verses the 52 hi/lo.

    Jul 18, 2012. 02:59 PM | 2 Likes Like |Link to Comment
  • Is The Enerplus Dividend Sustainable? [View article]
    Well if it was a good buy at 24, 22, 21, 19, and 16, it is literally screaming to be added here below 15. Note that the management commentary listed cutting the dividend as the the third of three options to maintain strong financial position.

    I am long 1500 shares at an average cost of 21.39 and am feeling the pain. But seriously sell it at this point for a near 10k loss? I am about ready to add some more. Even if they cut the dividend, it will be a short term reduction and they will grow it again later on. A twenty five percent dividend cut will still yield 10% on shares purchased today with the potential for serious capital gain in the neighborhood of 50% if the stock were to return to $22.50 in the next year or so.

    The smart money as has been mentioned would have been to sell around 24-25 and be loading up right now.
    May 15, 2012. 11:56 AM | 2 Likes Like |Link to Comment
  • Rosetta Resources: Top Growth Company In The Eagle Ford Shale [View article]
    Nice to see someone write an article about a company that they actually invest in.
    Apr 30, 2012. 10:12 AM | 2 Likes Like |Link to Comment
  • Liquidity Services: Looks To Be A Good Value Play For 2014 [View article]
    I'm long. Solid profitable company. Much of the past annual growth was delivered on acquisitions, which the company was able to ingest and improve performance and overall metrics.

    With the continued unwinding of active conflicts by our DoD, I can't imagine there will be any shortage of surplus material.......

    They are building a portfolio of services for large corporations that turn into multiyear contracts for ongoing asset disposition, and not single event liquidations.

    I predict another acquistiion in 2014, steady increase in revs and profits. Maybe not at past historical rates.
    Jan 3, 2014. 10:44 AM | 1 Like Like |Link to Comment
  • Nuverra Update: Revisiting The Default Risk [View article]
    RE: KEG Presentation slides 14 and 15.
    Looks like 1st half 2013 revenue is down compared to 2012.
    Looks like these guys compete directly with NES.
    KEG doesn't appear to be running away from this business.

    Did I miss something?
    Oct 8, 2013. 12:22 PM | 1 Like Like |Link to Comment
  • Nuverra Update: Revisiting The Default Risk [View article]
    Of course there is risk here.

    But the banks are still in are they not?
    Sep 30, 2013. 03:46 PM | 1 Like Like |Link to Comment
  • Nuverra Update: Revisiting The Default Risk [View article]
    Oh well, looks like they amended the debt terms. Oh my, kinda blows the they are going into immediate default arguement out of the water.
    Sep 30, 2013. 01:46 PM | 1 Like Like |Link to Comment
  • 2 Stocks To Buy, 1 Stock To Sell, What's Next For The Market [View article]
    Just looking at the charts, I'd say eBay would be a short and VMW would be a buy. But then I live in opposite world I guess.
    Feb 14, 2013. 09:08 AM | 1 Like Like |Link to Comment
  • Nuance Communications' CEO Discusses Q4 2012 Results - Earnings Call Transcript [View article]
    Nerves. Over reaction. Great stock at the right price.
    Feb 8, 2013. 12:00 PM | 1 Like Like |Link to Comment