Dry bulk shippers get real cheap
Source: http://blogs.moneyandmarkets.com/blog/china-and-asia-stock-alert/0/0/dry-bulk-shippers-get-real-cheapPosted on Thursday, September 11th, 2008 | In Asia
Contributed by: Tony Sagami (http://blogs.moneyandmarkets.com/blog/china-and-asia-stock-alert) -
The Baltic Dry Index, an index covering dry bulk shipping
rates, fell to 5,026 a large and rapid drop from its peak of
11,793 in May.
All the dry bulk shipping companies, including my favorites like Genco and China COSCO, have dropped along with the BDI.
That drop won’t last and the dividend yield on those shippers are extremely attractive now. Genco, for example, is now showing a 9.7% dividend yield.
Last 5 posts by Tony Sagami
- World Bank Calls China: A “Ray of Hope” - April 14th, 2009
- Even Walt Disney Couldn’t Have Imagined This … - April 9th, 2009
- Following the Warren Buffett of China - February 17th, 2009
- Gaming stocks down on their luck - January 20th, 2009
- Japan: worst stock market drop in history - December 31st, 2008
 About Tony Sagami (http://blogs.moneyandmarkets.com/blog/china-and-asia-stock-alert)
Tony Sagami, a veteran investment advisor and a leading expert on Asian markets, is the owner and founder of Harvest Advisors, an investment research and money management company. Mr. Sagami has been managing money for more than 20 years and is one of the early pioneers in the application of technical and quantitative analysis to mutual funds and stocks. He is a featured contributor to Weiss Research’s daily e-letter, Money and Markets and monthly Safe Money Report as well as the editor of Asia Stock Alert. Prior to establishing his own firm, Mr. Sagami was managing director at W.E. Donoghue & Co, serving additionally as the director of investment. During his successful career, he also held the position of account executive at Merrill Lynch. Mr. Sagami’s views on Asian markets, specifically Chinese investments, have been featured in publications such as The Wall Street Journal, Barron’s, Kiplinger’s, Smart Money, Business Week, New York Times, Washington Post, Investors Business Daily, Bloomberg, Financial Planning Times, Mutual FundsMagazine, Chicago Tribune, and the LA Times, as well as on CNBC and CNBC Asia. Mr. Sagami holds a degree in economics from the University of Washington. |
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November 14th, 2008 at 6:33 pm
Great time to buy shipping stocks with high-yeilds. Companies like Genco (GNK) are still paying $1 per share and plan to keep paying their shareholders. There is pent-up demand that will have to be taken care of when the new year starts. Look for this stock to triple in price.