Hello Microdot, The first part of April of this year, my stock broker suggested that I purchase BP stock because they paid high dividends per share. Stocks in general are flat and high dividends are what I should be looking for at this point.
Four weeks ago he called me and suggested that I hold on to the stock because the leaking well belonged to Trans Ocean (a Halliburton subsidiary) and the off shore oil mineral rights belonged to Halliburton. BP was just renting the oil drilling platform and he said by contract, BP was only responsible for $75 million for damages should something happen and BP had an insurance policy with Lloyd’s of London for this liability. I held onto the BP stock.
I just got a call today from the same stock broker recommending that I sell these stocks (a $4,000 loss in 2 months) because the research department of Edwards Jones feels that with the current political environment making BP pay for the cleanup, damages and restoration of beach and marsh land, plus the massive personal liability law suits that are going to be filed for destroying the fisheries and all the extended business related to it, and they STILL have not able to stop the oil flowing into the Gulf nor will they for a very long time, etc….that BP will just declare bankruptcy, folding up operations, but open up under a new name in a forgiving and understanding country, leaving everyone from U.S. country to the citizens of the U.S., holding an empty bag. (You cannot get any financial satisfaction from a bankrupt Corporation with no money. That the way the corporate laws are written!!)
I sold my BP stock today and really got fucked on this deal just since April!!! But if I didn’t I have the likely chance of loosing it all that I had invested.
1 comment:
Hello Microdot,
The first part of April of this year, my stock broker suggested that I purchase BP stock because they paid high dividends per share. Stocks in general are flat and high dividends are what I should be looking for at this point.
Four weeks ago he called me and suggested that I hold on to the stock because the leaking well belonged to Trans Ocean (a Halliburton subsidiary) and the off shore oil mineral rights belonged to Halliburton. BP was just renting the oil drilling platform and he said by contract, BP was only responsible for $75 million for damages should something happen and BP had an insurance policy with Lloyd’s of London for this liability. I held onto the BP stock.
I just got a call today from the same stock broker recommending that I sell these stocks (a $4,000 loss in 2 months) because the research department of Edwards Jones feels that with the current political environment making BP pay for the cleanup, damages and restoration of beach and marsh land, plus the massive personal liability law suits that are going to be filed for destroying the fisheries and all the extended business related to it, and they STILL have not able to stop the oil flowing into the Gulf nor will they for a very long time, etc….that BP will just declare bankruptcy, folding up operations, but open up under a new name in a forgiving and understanding country, leaving everyone from U.S. country to the citizens of the U.S., holding an empty bag. (You cannot get any financial satisfaction from a bankrupt Corporation with no money. That the way the corporate laws are written!!)
I sold my BP stock today and really got fucked on this deal just since April!!! But if I didn’t I have the likely chance of loosing it all that I had invested.
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