Yesterday I started two new positions at 5% of assets each. They are NADL and SXCP.
NADL is a deep water drilling company that is coming into serious Russian money later this year, and I am effectively betting that the world does not wage sanction war when it comes to oil. My price for NADL was $6.29.
SXCP is involved with the nice clean process of manufacturing coke for metallurgy. They are just a good value buy. My price for SXCP was $28.98.
While it would have been my preference to tell you yesterday that I initiated these positions, it was not sadly within my time constraints.
Cash position stands at 8%.
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Looking forward to pick up BTU in the low single digits
Good luck with that.
Many coal operations are about to fold. BTU is not one of them.
when others go broke(WLT, ANR; ACI) pessimism will carry over
Because of the railroad logjam in the northern Midwest, a lot of iron ore isn’t making it’s way to the steel mills.
I’d be concerned about the impact this would have on SXCP’s earnings in the near-term.
Naturally the day after I purchase SXCP, the EPA announced new regulations that could possibly directly affect the use of coke in metallurgical processes.
I want the fancy new Republican Congress we get in November to start working through the EPA with a comb…made from broken glass shards.
Would be a waste of time. 0bola would veto
I disagree. Obama will not be around to protect them for forever. It would remind them that there will be a time when no one is around to protect them.
Had both on my watch list …
Will the Russians find the capital to keep drilling without the deep pockets of XOM?
And will the board of NADL be able to keep paying that juicy dividend if the drilling slows down or comes to a halt?
All terrific questions.