DryShips, Inc. (DRYS)

AresFinancial (99.17) Submitted: 3/05/08 4:11 AM

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Read and heed:
World's Scariest Stock: DryShips
http://www.fool.com/investing/small-cap/2007/10/29/dryships-is-haunted.aspx

Dryships’ Debut Shows Speculation,
Liquidity Trumping Experience
“It was surreal. When someone asked why he was doing the deal, here–now, he actually said, basically, ‘Because Americans are the dumbest investors around, and there’s lots of liquidity in this market.’”
http://www.weedenco.com/welling/archive/sb/v07i04sblogo.asp

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cashout1 (< 20) Submitted: 4/26/08 1:49 AM

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If the stocks in this sector increase from Feb to the end of the year, that leaves only January when they don't perform well .....Kind of a bizaar statement.....

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BonusCash (< 20) Submitted: 5/02/08 4:08 PM

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Glut of capacity coming online. I say this thing is headed down.

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SESAMEnow (85.06) Submitted: 5/03/08 6:50 PM

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I figured it was a good move and sea captains are notorious non conformists. I bought 100s when it was $56 knowing that the market was discounting a great value even if the oil rig deal was a bust. Wish I had bought a lot more ....
SesameNow.

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LordZ (67.41) Submitted: 5/04/08 12:54 PM

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57.28 new starting price, put here to see how next dividend will adjust my start price.

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LordZ (67.41) Submitted: 5/18/08 11:47 AM

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Also bought more shares when it dipped in the sixites... :)

Sitting pretty with the stock, also have ESEA stock...

ESEA is a bit more stable however DRYS will make you more money...

Look for awesome earnings and an excellent future prospect, also they have bought an deep ocean drilling oil company...

Oil and shipping...

With the oil addition, they are creating and securing demand for their ships..

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AresFinancial (99.17) Submitted: 6/12/08 10:48 AM

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Drybulk is going to get CRUSHED. They are listing to many companies and creating to many second offerings. Enjoy the ride down.

I forgot to post my favorite article about these guys:

Curious George
Nathan Vardi 02.25.08, 12:00 AM ET
http://www.forbes.com/forbes/2008/0225/095.html

A highlight from: Curious George

"Who are my investors? Computer models, hedge funds and some institutions that go in and make $10 and get out." So much for consensus. DryShips has been operating with two employees (Economou, 54, and his internal auditor) since his chief financial officer quit in May, the second to split in three years. The company's fleet is managed by Cardiff, 70% owned by Economou, which gets more than $7 million a year for its troubles.

"A family business, this. Economou's two former wives own a total 15% of DryShips. Chryssoula Kandylidis, his sister, holds 30% of Cardiff Marine. With proceeds from its initial offering, DryShips bought six ships that had recently been picked up by Kandylidis. Five were sold at cost, but DryShips paid his sister a $3 million fee. Economou says she made very little money on the deal and bore great risk.

Kandylidis' son, Antonios Kandylidis, is also in this cozy network. The 30-year-old Antonios is the founder and largest shareholder in OceanFreight (nasdaq: OCNF - news - people ), which raised $218 million when it went public on the Nasdaq last year. Cardiff helped OceanFreight pick up its first dry-bulk vessels, helps manage that fleet and shares office space with OceanFreight.

A rocky maiden voyage. OceanFreight had to clarify its reporting in October, announcing third-quarter earnings per share were really 7 cents as opposed to the 11 cents it had advertised a day earlier. In December Antonios fired his chief executive, who says he intends to sue for wrongful termination. Then OceanFreight's chief financial officer quit; Antonios took over both the executive roles. Within days of the fuss OceanFreight announced it was buying the first of two tankers privately owned by Economou for $112 million."

Of interest also many dry bulk shippers are unloading shares on the stupid:
Secondary Offerings, Debt, and Defaults

Minyanville Professor David Nelson and Minyan Peter were talking about secondary offerings today. Let's take a look.

Professor Nelson: Shipping Secondaries

One by one the Dry Bulk Shippers are reporting blow out quarters. However, another pattern seems to be developing under the surface. Shortly after reporting and getting a big bump from the EPS reports, they've been announcing secondary's. Last week it was TBS International (TBSI) and this morning it's Genko Shipping (GNK).

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