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October 09, 2008 – Comments (3) | RELATED TICKERS: PRGN.DL

K I don't know how to link stuff because I am a computer foofhead.  But if you go to yahoo Finance and hit the message boards you will find the links there.  I love this stock I have been buying it up because of the yield.  A reading of the CEO report and charts indicates that their yield is pretty secure over the next 2 years.  With the stock now trading under $6 dollars and a November dividend due, which is expected to be .50, this is a pretty damn good cheap stock.  I bought up some more.

They were smart enough to time charter.  Something DRYS finally decided to do after dropping a ton in value with little dividends given.  Now there is no guarantee here.  For all I know the CEO could just be blowing smoke.  But people ask for bargain stocks, and here is potentially one.  If they maintain the dividend for years (as it appears they can) you are looking at a 3-4 bagger here easy.  And a damn good income.

As I said, no guarantees.  The choice is ultimately yours.  All I can say is I did put real money on this call (my average price now is $7 and I might buy more if it stays under $6).

3 Comments – Post Your Own

#1) On October 09, 2008 at 6:03 AM, abitare (29.51) wrote:

DRYS and PRGN are garbage. DRYS is a two employee company with no CFO and a bunch of insider dealings. DRYS is as shady and dumb as they come. Because they were able to run DRYS up so high they unloaded a bunch of similiar garbage stocks, SB, PRGN, EXM, TBSI, GNK etc....

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#2) On October 09, 2008 at 8:09 AM, LMSZ (24.01) wrote:

With a payout ratio of 157 how did you determine the yield is sustainable for 2 years?

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#3) On October 09, 2008 at 11:18 AM, awallejr (38.93) wrote:

Did you read the 2 links from Yahoo?  And Ares I agree about DRYS, they played the daily spot rate and got burned.  PRGN, we'll see come November.  If they announce the dividend at .50, with steady forward guidance, watch the stock move up nicely.  And at $6 there really isn't much downward pressure left

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