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As title, is anyone tempted due to the problems and dip in share price?

I'm not much of an investor, but a 35% fall in 6 weeks looks fairly substantial. If I was a gambling man then I'd be keeping a close eye on developments.

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I got caught with my pants down on this one so I'm holding.

Err .... I think that means don't touch this stuff with a barge pole.

The bargain basement opportunity may be lost the minute they cap that pipe.

I'm still kicking myself over not buying dollars when they were $2.10 to the £.

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As title, is anyone tempted due to the problems and dip in share price?

I'm not much of an investor, but a 35% fall in 6 weeks looks fairly substantial. If I was a gambling man then I'd be keeping a close eye on developments.

don't be a div

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If BP drops it dividend then the shares will tank more - probably pull the FTSE down as well as so much of our pensions are in BP shares and the div from them then buys more shares.

Or/And Obama could be punishing of BP in the US.

And they migth not plug the leak until August.

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I think the old adage is "never try to catch a falling knife."

Even if BP manage to cap the pipe I think they'll get slapped with huge fines, many law suits and may even be forced to sell off their North American interests.

I know, this is basic training in HPC boot camp.

But I majored in that and it all tuned out to be horsesh!t. Yeah, HPCer's were supposed to be right, they were using an evidence based approach when everyone else was talking nonsense, but they were wrong. And they could be wrong again.

If I thought they were cheap enough I'd probably buy a few.

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I think the old adage is "never try to catch a falling knife."

Even if BP manage to cap the pipe I think they'll get slapped with huge fines, many law suits and may even be forced to sell off their North American interests.

BP is the largest producer of oil for the US market. Obummer plays hard ball the oil will go to China not the US.

BP in revenue terms (250billion) if ranked in country terms would be the 29th largest country in the world.

It took 21 years to settle the law suits after the Exxon Valdiz spill in Alaska.

Also BP is the holder of the license to drill and so liable for the damage. But the rig is owned by Transocean and the staff are 100% Annardarko. The burst occured whilst Annardarko staff were doing maintenance on the blast protection part of the pipe, i.e the part meant to stop any oil spill, this part was the cut off valve to stop the flow if things went wrong.

The US Govt may sue BP but I bet you BP will sue Anadarko ( a US company) within 1milisec of being sued itself. This law suit will not be settled for 60 years.

Obummer needs BP oil.

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BP is the largest producer of oil for the US market. Obummer plays hard ball the oil will go to China not the US.

BP in revenue terms (250billion) if ranked in country terms would be the 29th largest country in the world.

It took 21 years to settle the law suits after the Exxon Valdiz spill in Alaska.

Also BP is the holder of the license to drill and so liable for the damage. But the rig is owned by Transocean and the staff are 100% Annardarko. The burst occured whilst Annardarko staff were doing maintenance on the blast protection part of the pipe, i.e the part meant to stop any oil spill, this part was the cut off valve to stop the flow if things went wrong.

The US Govt may sue BP but I bet you BP will sue Anadarko ( a US company) within 1milisec of being sued itself. This law suit will not be settled for 60 years.

Obummer needs BP oil.

That makes them a buy then.

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At 433p or so, you need to buy a lot of shares to have any real profits.

Who's got that x1000, or x10000 that will see any profits on a per share gain?

A quick turn around will see 40% wiped off in CGT anyway.

Edited by cashinmattress

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At 433p or so, you need to buy a lot of shares to have any real profits.

Who's got that x1000, or x10000 that will see any profits on a per share gain?

A quick turn around will see 40% wiped off in CGT anyway.

Depends how much they go up , 433 x 1000 = 43,000 , shares go up a £1 totaly feasiable if they fix the leak Makes you £10,000 far far more than you would ever get in the bank + you would get the dividend's on the shares while you are holding them.

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If BP drops it dividend then the shares will tank more - probably pull the FTSE down as well as so much of our pensions are in BP shares and the div from them then buys more shares.

Or/And Obama could be punishing of BP in the US.

And they migth not plug the leak until August.

Yep.

Drop the divi, and lots of income funds become forced sellers - huge drops. Maintain it, and not merely face the wrath of the US, but also risk market seeing that as bravado and punishing you.

As for August ... yep, hurricane season is sure to see great progress.

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I know, this is basic training in HPC boot camp.

But I majored in that and it all tuned out to be horsesh!t. Yeah, HPCer's were supposed to be right, they were using an evidence based approach when everyone else was talking nonsense, but they were wrong. And they could be wrong again.

If I thought they were cheap enough I'd probably buy a few.

Your using the words 'horseshit, nonsense, wrong and right' in very vague terms, HPC were right in pointing out that the housing market was the result of a huge credit bubble and that one day the bubble would burst, to say people here were wrong for not knowing the exact timing of the burst or to what extent the government would go to keep the bubble alive is unfair as no one has the benefit of hindsight.

BP shares may seem a bargain compared with pre oil leak prices, but the pipe is still leaking and the full cost of the clean up and law suits are still unknown, if you feel lucky go for it.

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Your using the words 'horseshit, nonsense, wrong and right' in very vague terms, HPC were right in pointing out that the housing market was the result of a huge credit bubble and that one day the bubble would burst, to say people here were wrong for not knowing the exact timing of the burst or to what extent the government would go to keep the bubble alive is unfair as no one has the benefit of hindsight.

BP shares may seem a bargain compared with pre oil leak prices, but the pipe is still leaking and the full cost of the clean up and law suits are still unknown, if you feel lucky go for it.

Do a search for a similar topic in Jan 2009 on RBS shares and people were saying bargepole, nutcase, European exposure, Subprime. But just a few short months later the shares were up hundreds of percent.

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If you look back over several years of BP shares they have been in the 6 quid range which is where they were before the leak.

The only 'bargain' time was the Lehman's crash in Oct 2008 in recent years.

I suppose if you could buy several thousand shares in an ISA now for £4.50 you could make some dosh if they went back up to their 6.00 mark.

Look at those pictures though.

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I think the old adage is "never try to catch a falling knife."

I couldn't resist and bought a few today. I'm already 5% down. :)

Somebody on this site said it perfectly a few days ago, and that is to wait until things settle down even if it means missing the absolute bottom.

BP is highly uncertain, combined with a potential market meltdown scenario. Not something anyone in their right mind (and with enough dosh to impact the market price) would want to buy right now.

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Do a search for a similar topic in Jan 2009 on RBS shares and people were saying bargepole, nutcase, European exposure, Subprime. But just a few short months later the shares were up hundreds of percent.

Can't find a thread here, but I bought LLOY on Jan 22nd 2009, and again in their rights issue on June 3rd. Some of us do like a bargain :)

Sold in August at 104p, which contrasts pretty favourably to their current price :)

[edit to add for posterity] Today's price is 55.4p.

Edited by porca misèria

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Can't find a thread here, but I bought LLOY on Jan 22nd 2009, and again in their rights issue on June 3rd. Some of us do like a bargain :)

Sold in August at 104p, which contrasts pretty favourably to their current price :)

[edit to add for posterity] Today's price is 55.4p.

I wouldn't buy any share just because it's dropped massively. Banking shares in early 09 were a massive risk which, luckily for those who bought, paid off. Buying just because something is low compared to before is a classic gambler trait. I know a guy who bought £10k worth of Bradford and bingley shares, he certainly learned his lesson.

If I could be bothered to research into bp fully then I might find out it may be worth risking but who knows.

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Barry is cross at the potential divi.

I guess he was cross with bankers bonuses.

a cross Barry makes everyone ignore him.

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They're a huge cash generator. If they can get their PR right now - loads of photo ops giving cheques to fishermen and green groups, the chairman pulling on waterproofs and cleaning the beaches - they get one big expense this year and then go back to normal, or better than normal, next year. If they do it right then they will get lots of kudos when people compare the clean-up to how badly Exxon dealt with the Alaskan spill.

If they start being bloody-minded and insist on keeping the dividend unchanged and start quibbling and saying the wrong thing then they start damaging a big market and a big source of oil.

Time to ratchet up the PR budget tenfold.

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I think the Yanks need to be reminded of Union Carbide in Bhopal, India.

Their US-owned subsidiary released methyl isocyanate gas killing thousands and injuring tens of thousands in 1984

Union Carbide in the US tried to wash it's hands of the matter and claimed it was the problem of the local subsidiary. The victims, after decades of legal wrangling, were paid peanuts in compensation. The only ones who got lots of money were the ambulance-chasing US lawyers.

Final compensation for each death averaged less than £1500.

At least BP has accepted responsibilty and is trying to fix the problem.

Edited by happy_renting

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  • 152 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
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      • Even
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