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Non-Tech : Income Investing
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To: codger who wrote (37616)1/31/2019 3:07:16 PM
From: MCsweet  Read Replies (1) of 52135
 
Re: Bought Tsakos TNP-C 8.875% coupon preferred @$24.95. Issue is past call and "fai

I think you have a good bet going, but shipping companies are subject to the whims of the debt market and shipping rates, and I have seen plenty go bust.

I'd put the odds being low that TNP goes bust, but not at 0.

On the plus side, they tend to hedge their fleet pretty conservatively. On the negative side, the stock price has declined a lot over the long term, and I don't have confidence in the sector or the management.

MC
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