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Non-Tech : Kirk's Market Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Jerome who wrote (2371)	12/3/2014 2:49:47 PM
From: Gottfried	1 Recommendation Recommended By Jerome Read Replies (1) \| Respond to of 26806

"No, It’s Not Time to Buy the Offshore Drillers" [Barron's blog] blogs.barrons.com can someone translate the excerpt below into English? We wait for the cycle to turn, but have established a normalized earnings framework that ascribes pricing to rigs on a specification basis (e.g. value is placed for items such as derrick and crane capacity, dual BOPs/# of rams and dual activity/mud systems, all of which is detailed herein) in order to help us find relative “winners” and “losers”. Put differently, more general “bifurcation” evolves to more complex “stratification” as we look for widening credit to be given to more capable rigs, even within the UDW, once the market is more balanced…