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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Nya_Quy who wrote (63434)	4/13/2020 4:50:52 PM
From: Paul Senior	Read Replies (1) \| Respond to of 78959

TRMD. I was looking at latest published list of Howard Marks' holdings, and I noticed Danish tanker stock TRMD was his #2 weighting, at 13% of his portfolio. He's also investing in other shipping stocks like SBLK at 11%, a dry bulk shipping carrier. I have been building up shares of oil transporting shippers, on the assumption that contango continues, there will continue to be excess oil that will be stored on oil tankers, and that also, as a consequence, shipping rates (spot market) for oil tankers will increase because the storing of oil on ships (the temporary mothballing) will leave fewer ships to move oil from country to country. I see TRMD has an interesting (to me) year-end presentation (published 3/11). They seem positive on the future (of course?) and in their competitive position in their sector. I will further diversify my small basket of tanker stocks by adding a few shares of very thinly-traded TRMD to it today. This all may be a trade for me, a trade that goes wrong. Tanker stocks don't ever seem to have been a good investment, i.e. long-term holding. This seems to be the best time in years for tanker rates, and that is not likely to last, given the volatility in past years of the business and stocks therein. investors.torm.com finance.yahoo.com