Global Santa Fe (GSF) (formerly Global Marine) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Global Santa Fe (GSF) (formerly Global Marine)

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: j_fir2 who wrote (1038)	12/9/1998 12:55:00 PM
From: Ram Seetharaman	Read Replies (1) of 2282

I agree that GLM is worth more! But in a market where oil prices may go to single digits next year, buyers won't pay premium for GLM. GLM won't have any problem surviving though, since they have consistently produced good profits for the past couple of years. It is just the timing in 1998/1999. Energy prices have eroded for over a dozen years now. That is why some economists in U.S are even talking of deflation in the U.S (deflation is a reality in the commodity markets as of today!). Couple of years ago I bought GLM at $8 and got out at $ 14 only to see it reach as high as $ 30. Now it is back to single digits and is a great buy - even an aggressive and strong buy for those willing to wait several months. But in an immediate buyout I don't see anyone paying $ 30 for GLM. That will rock the market for sure! Exxon/Mobil deal didn't rock the market at all - merger of two fat cats - investors showed only a tepid response.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next