SHORT BP (and go long detergents)

Wobblydeb

JamesU wrote: »

So you are not one for the iii equiv of Motley HYPs? .

JamesU

Have to admit to not understanding this... Is BP out of favour with people building HYPs?

StevieJ

sabretoothtigger wrote: »

Stevie you have irritatingly good luck :laugh:

Remember those positive vibes coming out of Shell not so long back

Having said that some of the vibes were in the Gulf of Mexico:eek:
Not sure why the markets are not reacting to this but the Shell news flows are extremely positive.

19/03/2010 Shell announces a significant new oil discovery in the deepwater eastern Gulf of Mexico, adding to discoveries in the area from 2009.

https://forums.moneysavingexpert.com/discussion/1627083

JamesU

Wobblydeb wrote: »

Have to admit to not understanding this... Is BP out of favour with people building HYPs?

No idea, do not do HYPs. Guess at +6% yield, and provided divi cover is there, no problem long term. Out of curiosity yesterday, checked when I last had an oily and it was indeed BP sold in Feb 08. Was referring to the fact iii set RDSB as the first staple in an income building portfolio (link below) and this brought back memories of those old Motley Fool HYPs. Your contrarian and opportunistic play with BP is more in character given the specific etfs that were discussed some time ago.

JamesU

http://www.iii.co.uk/articles/articledisplay.jsp?section=modelportfolios&article_id=10095218&catEnforce=star

malik999

BP is definately a buy.
Currently at £5.75

Craig12_2

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StevieJ

malik999 wrote: »

BP is definately a buy.
Currently at £5.75

So you are fully aware of all the costs they may incur, they were actually this price not so long ago before this disaster struck did you fill your boots then,

Here is an interesting post on MF from a BP shareholder.

http://boards.fool.co.uk/Message.asp?mid=11911987

TRUSt_NO_1_2

Wobblydeb wrote: »

Actually I topped up - I've been following conversations on the iii forum and feel reasonably confident that the costs will be less than the recent drop in value of BP. Am looking forward to the quarterly dividend

As always - DYOR

DYOR ?...you obviously have been in a coma for the last few days...(the funny bit)

BBC news...
"President Barack Obama has announced.
In a White House statement, he said BP was "ultimately responsible... for paying the costs of response and clean-up operations".
........
The company would therefore have to cover the full cost of any legitimate compensation claims from the oil spill from its own resources, our correspondent says.
The oil giant's chief operating officer, Doug Suttles, said it had mounted "the largest response effort ever done in the world".
BP says it has begun using Persil underwater in an attempt to break up the leaking oil at its source.
...
the knock out punch ..
.
The first lawsuits have already been filed on behalf of fisherman, in what could end up as a barrage of litigation.
BP spokeswoman Sheila William told AFP news agency the energy firm was prepared to assume costs for the clean-up and for damages.
The BBC's business correspondent, Joe Lynam, says that BP has no external insurance cover in the traditional sense, instead using a form of "self insurance" to cover major events like this.

see what I mean about detergents and BP being took to the cleaners ...

TRUSt_NO_1_2

malik999 wrote: »

BP is definately a buy.
Currently at £5.75

You mean a bye-bye don't you ?

JamesU

sabretoothtigger wrote: »

Quote: Exon clean-up $5 billion, compensation up to $5 billion
Exxon appealed and in 2008 paid just half a billion

Missed this part......who picked up the rest of the bill?

JamesU

TRUSt_NO_1_2

StevieJ wrote: »

So you are fully aware of all the costs they may incur, they were actually this price not so long ago before this disaster struck did you fill your boots then,

Here is an interesting post on MF from a BP shareholder.

http://boards.fool.co.uk/Message.asp?mid=11911987

The quote says he wouldn't be surprised if they fall in the coming weeks ...

The oil is still leaking and it sounds to me as they can't stop it.
The shares are going to tank (pun intended).
If there's one thing the Americans do well..it's award massive damages in court.
It now depends on the old pals act between US/UK govt..as BP is a too big to fail company,so will be kept alive..after all it is integral in the Middle East war on terror ...I mean oil exploration/suppy project.