Safe Bulkers (NYSE:SB)

colinator0924 (< 20) Submitted: 7/1/2012 11:49:04 AM : Start Price: $6.14 SB Score: -4.66

I want to like them with impressive valuation for safety, and high dividend. But I can't. Whoever said they have a strong balance sheet should go work for Moody's and rate sub prime debt. They are financing their dividends, hence the yield. With limited REAL Chineese growth, and world economy still in disarray, you have to sit on the sidelines with this.BUT....that yield can't be ignored no matter how they are paying for it. There's room for some more price slippage, maybe it doesn't hurt to begin small accumlation.So, I seem to have contradicted myself. I say market underperform over the next few months, but you may be able to wait it out with that dividend.