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Strategies & Market Trends : Value Investing

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To: Jurgis Bekepuris who wrote (37711)	5/2/2010 11:40:39 AM
From: Mark Marcellus	Read Replies (1) of 78464

So it's a "sell, sell, sell, bad shit may happen" mentality based on no known facts. I don't think that's a fair assessment. The fact is that RIG does have a history of operational mistakes - though in the past it's been rigs offline due to operational problems rather than due to a cataclysmic event. Nevertheless, this management has long made me uneasy. This is due not only to their spotty operational history compared to say, DO, but also due to what appears to me to be a greater focus on financial engineering than operational engineering, and a general lack of transparency. I stopped giving this company the benefit of the doubt a while ago, and I can't blame anyone who is inclined to sell now and ask questions later based on the current events.

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