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Old 10-20-2015, 07:49 AM  
Hog's Gone Fishin Hog's Gone Fishin is offline
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Investing....What about Steel Stocks ?
I took a load of scrap metal to the salvage yard and nearly had to pay them to take it. I remember several years ago people everywhere were dragging trailers loaded to the hilt with steel to the yards making good money scavenging. So I thought I'd investigate a little.

US steel (x) is selling for around $12 / share right now

Less than 12 months ago it was near $50

In 2008 it was $196

Right now it is at a 10 year low.

I'm reading that China is the major producer and supplier but their economy is faltering and the steel companies are in danger of going belly up. When this happens we should see prices move up.

Thinking about throwing 5 at it but don't want to wait for a Chiefs SB win to make a profit.

Thoughts ?
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Old 12-04-2015, 12:32 PM   #31
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Originally Posted by Amnorix View Post
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...
If I had Warren buffet money I'd throw a billion at it shortly.
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Old 12-04-2015, 12:42 PM   #32
Amnorix Amnorix is offline
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If I had Warren buffet money I'd throw a billion at it shortly.

According to Motley Fool, Buffett wouldn't. At least not in 2010.

http://www.fool.com/investing/value/...ett-stock.aspx

...which is probably why he is a multi-billionaire known for his genius at financial investments, and you are better known for your ability to extract semen from boars.


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Old 12-04-2015, 01:10 PM   #33
Hog's Gone Fishin Hog's Gone Fishin is offline
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Originally Posted by Amnorix View Post
According to Motley Fool, Buffett wouldn't. At least not in 2010.

http://www.fool.com/investing/value/...ett-stock.aspx

...which is probably why he is a multi-billionaire known for his genius at financial investments, and you are better known for your ability to extract semen from boars.
The price is waaayy below 2010 now.

And Warren wishes he had my talents.
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Old 12-04-2015, 01:14 PM   #34
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The price is waaayy below 2010 now.

And Warren wishes he had my talents.
He could be RICH.
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Old 12-04-2015, 01:18 PM   #35
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I have a question, not about steel stocks, but about investing in general. I have an emergency fund for my family (following Dave Ramsey's em. fund advice) but its sitting in a savings acct earning 1% interest. Is there a place in which to park this fund, having it earn income investing level returns, but also have access to it on short notice without (or with very little) penalty?
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Old 12-04-2015, 01:20 PM   #36
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I have a question, not about steel stocks, but about investing in general. I have an emergency fund for my family (following Dave Ramsey's em. fund advice) but its sitting in a savings acct earning 1% interest. Is there a place in which to park this fund, having it earn income investing level returns, but also have access to it on short notice without (or with very little) penalty?
IRA is easiest. But you can withdraw from most any investment. No penalty for 401K withdrawal if an emergency.
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Old 12-04-2015, 01:30 PM   #37
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IRA is easiest. But you can withdraw from most any investment. No penalty for 401K withdrawal if an emergency.
But only certain types of emergencies, no? Also, from what I'm reading, you can withdraw any of the principle at any time with no penalty, since contributions are post-tax. But you get penalized on withdrawing earnings.
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Old 12-04-2015, 03:28 PM   #38
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Buy when it gets to $5. You're going to make that back 10 fold in 2 years.
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Old 12-04-2015, 04:37 PM   #39
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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.
As an update, BHP has stopped beating me with a stick. Now it's using a baseball bat with a nail in it.
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Old 12-04-2015, 05:58 PM   #40
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Buy when it gets to $5. You're going to make that back 10 fold in 2 years.
OK , sounds like solid advice.
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Old 12-04-2015, 06:00 PM   #41
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As an update, BHP has stopped beating me with a stick. Now it's using a baseball bat with a nail in it.
Just remember Rain, you only lose if you sell it while its down. It will come back .
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Old 12-04-2015, 06:16 PM   #42
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OK , sounds like solid advice.

You want solid advice? Good luck. If anything, follow Warren Buffet's: "you pay a dear price for a cheery consensus.”

If it feels good buying it, then you probably shouldn't. If you feel nervous about it, dive in. If I had the cash to throw at steel, I'd do it now. That's me. Do I worry about the turnaround? Sure. Do I think its going to go back up significantly? You bet your ass, else this whole country is in a world of hurt.
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Old 12-04-2015, 08:49 PM   #43
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But only certain types of emergencies, no? Also, from what I'm reading, you can withdraw any of the principle at any time with no penalty, since contributions are post-tax. But you get penalized on withdrawing earnings.
I have a Netspend savings account that earns me 5% on up to $5000. Seemed a little sketchy at first since it's linked to a prepaid debit card, but the funds are FDIC insured and available at a moments notice through the debit card if needed.
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Old 12-04-2015, 09:27 PM   #44
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This market is about to take a hit after they roll out the interest rate bump. If you wanna go safe with good returns, put your money in biotech mutual funds after stocks take a plunge

Oil stocks are also hitting bottoms and will yield some big gains over the next 3-5 years.
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Old 12-05-2015, 08:44 AM   #45
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I have a Netspend savings account that earns me 5% on up to $5000. Seemed a little sketchy at first since it's linked to a prepaid debit card, but the funds are FDIC insured and available at a moments notice through the debit card if needed.
I will check that out. Thanks!
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