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10-20-2015, 09:31 AM | #16 |
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There are only two times during the business cycle that you want to hold commodities or commodity related stocks (like steel companies). You want to own them at the beginning of the cycle after a recession starts to turn back to growth and when you see inflation during the latter stages of an economic expansion.
Steel is especially challenged because of China's state owned companies who won't ever completely shut down, lack of global growth, and an oversupply of steel right now. |
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10-20-2015, 10:09 AM | #17 |
Fish are scared of me
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10-20-2015, 10:11 AM | #18 |
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I'm just telling you, as a guy who does business with USS, I have them on an extremely short rope. I wouldn't touch their stock at all - not right now.
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10-20-2015, 10:19 AM | #19 |
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I'm sure they'd be durable, but I can't imagine walking around in them all day. They'd be cold in the winter too.
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10-20-2015, 10:21 AM | #20 | |
Fish are scared of me
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Quote:
but I have to wait for Rainman to see what he thinks also because if he get's in then Buffett gets in. Buffett follows Rainman. Buffet gets in then the stock automatically goes to $30 |
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10-20-2015, 10:22 AM | #21 |
Fish are scared of me
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10-20-2015, 10:51 AM | #22 |
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Thought this said "Steel Socks" and was a new mafia twist on cement shoes.
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10-20-2015, 11:18 AM | #23 | |
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Quote:
I'm not in steel, so I don't see Buffet doing anything. I've got some stock in BHP (iron ore and other stuff), and I can confirm that this industry is in a down cycle. BHP has been beating me with a stick.
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10-20-2015, 02:20 PM | #24 |
Fish are scared of me
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10-21-2015, 02:36 PM | #25 |
Fish are scared of me
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12-04-2015, 12:18 PM | #26 |
Fish are scared of me
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12-04-2015, 12:21 PM | #27 |
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Another steel stock (GGB)
5 year high $13.00 Right now $1.46 |
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12-04-2015, 12:25 PM | #28 |
Needs more middle fingers
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Everytime i see this thread title i think it reads as "Steel Socks"...
Who the hell woulda wanna invest in Steel Socks?
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12-04-2015, 12:28 PM | #29 |
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Took a quick look. Just looks ugly for steel for the foreseeable future. USX uses inefficient blast furnaces, which means their costs of production are higher than many other big steel companies. They are also a big oil and gas supplier, but oil and gas is in the tank now too becuase oil prices have tanked. Their nickel-a-share dividend isn't exciting, and they basically need either oil and gas in particular, or the world economy in general, to take off, for their stock to go up much. I would assume downside risk is pretty small. Can't imagien USX becoming a penny stock, so if you're patient enough to wait....potentially a long time...
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12-04-2015, 12:29 PM | #30 | |
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Quote:
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