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Sunday, 21 January 2018

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JAY V.

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Viewing 15 posts - 1 through 15 (of 30 total)
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  • in reply to: Is PBR a good choice for the portfoilio? #18212

    JAY V.
    Participant

    If oil prices stay at $70 ish per barrel, what viability does Pre-Sal oil have really? I suppose it continues to be good for Brazil oil independence and its commercial account. PBR however, not so much?

    in reply to: Is PBR a good choice for the portfoilio? #27391

    JAY V.
    Participant
    in reply to: Is PBR a good choice for the portfoilio? #27390

    JAY V.
    Participant

    The abuse by dishonest government appointees and/or insiders at PBR apparently has been primarily in purchase, construction, and service contract kickbacks, with large sums involved. Brazilians who want an honest system have a tough job ahead to clean up all the bad habits that exist in public service. So many public servants have never been exposed to the private sector…

    this quote is from a Stansberry email I received August 11:

    Over the weekend, the Financial Times published a long exposé on how deep the corruption goes at Petrobras… The government isn’t just misallocating funds… It’s also allegedly placing top officials, pressuring for campaign donations, and laundering money.

    The federal police are in the middle of an enormous investigation into Petrobras’ corruption… And the company made a mistake last year that allowed the Federal police to take action…

    In May 2013, convicted black-market money dealer Alberto Youssef bought through third parties a luxury car for his friend and alleged accomplice, Paulo Roberto Costa, a former executive at state-oil company Petrobras.

    But while negotiating the purchase of the R$250,000 ($110,000) Range Rover Evoque in São Paulo, they put their names together on a seemingly harmless document: a proof of address. It was the only occasion in the mountains of police investigation documents seen by the Financial Times they voluntarily appeared together.

    Police raided Costa’s home, seizing the Range Rover and more than $500 million in cash. Prosecutors estimate wider corruption at Petrobras could eclipse another $440 million.

    ($500 million in CASH in his home? Where do you keep that pile? geez….dont get in the way of these guys, their greed is beyond comprehension.)

    in reply to: Is PBR a good choice for the portfoilio? #27387

    JAY V.
    Participant

    For those of you that are interested and can access the Financial Times, there was an article on August 10, 2014 titled Petrobras: Tarred by Corruption.

    in reply to: Ideas for Members-Only Events #27382

    JAY V.
    Participant

    Many Americans go to Scottsdale in January for the winter, they go for the good weather and various events i.e. classic car auctions, golf tournament, horse show, artist exhibits, nascar race, and spring training baseball games by various wintering teams.

    in reply to: “Buy write funds” #18194

    JAY V.
    Participant

    FWIW. I am not a fan of these funds. No upside potential to compensate the downside risk. Please look at the AOD as an example, go back to pre 2008. Study that. Perhaps MLPs in the pipeline business, like KMI, KMP, VNR if looking for income in a growing industry?

    in reply to: Is Russia Cheap enough? #18192

    JAY V.
    Participant

    JAY V.
    Participant

    One conjecture I heard is that there are internal disagreements between the company and the Finance Ministry as to how to calculate the 25%.

    THIS IS FROM THE GAZPROM Q & A , ON THEIR WEBSITE:
    ( left me thinking that not everything is black & white…)

    How is the dividend amount on Gazprom shares determined?

    The dividend payment per share is calculated on the basis of the net profit specified in the accounting statements of Gazprom (parent company) in compliance with the Russian accounting standards. In its turn, the net profit depends on the Company’s operating and financial results.

    The Gazprom Dividend Policy was approved by the Board of Directors in 2010. The Dividend Policy defines the dividend distribution procedures.

    The document stipulates that 17.5 to 35 per cent of the Company’s net profit may be allocated for dividend payouts.

    Dividends are calculated in the following procedure:

    A share of the net profit is channeled to form the reserve fund.

    Another share of the net profit in the amount of 10 per cent is used for dividend payouts. 40 to 75 per cent of the net profit is retained for the Company’s investment purposes. The remaining share of the net profit is divided into equal parts to pay out dividends and to form the reserve for investment purposes.

    The net profit intended for dividend payouts may be adjusted (reduced) for the amount of Gazprom’s financial investment revaluation. This approach enables the Company to allocate the profit secured by the real cash flow for dividend payouts.

    The Shareholders Meeting adopts the final decision on the dividend amount as recommended by the Board of Directors. The annual dividend payments adopted by the Meeting should not exceed the amount recommended by the Board of Directors.

    in reply to: Is Russia Cheap enough? #27371

    JAY V.
    Participant

    From Tim Seymour’s website…a shorter term view , with long term scar tissue.

    Gazprom Said to Stop Courting U.S. and E.U. Investors After Crimea Sanctions

    in reply to: Is Russia Cheap enough? #27370

    JAY V.
    Participant
    in reply to: A Family Conundrum #18182

    JAY V.
    Participant

    A challenging decision with emotional heartstrings.

    Our philosophy with the Family Office ( an LLC) includes distributions of income to the members sufficient to cover taxes and generate the potential for personal savings. From these savings new personal investments can be made in stocks, real estate, start-ups, personal projects, charity…etc. If a project is too pricey then there may be other family members willing to contribute to its creation and execution based on the project’s own merits and the participants willingness to invest/contribute.

    The Family Office money is put to work in sensible, diversified, non-correlated financial instruments, income properties, various investments. The only exception to this policy, I can wrap my head around, is investing in the college education of family members, done by paying for tuition in exchange for their best effort.

    in reply to: Is Russia Cheap enough? #27366

    JAY V.
    Participant
    in reply to: Chaoda #27365

    JAY V.
    Participant

    OK, I see today’s portfolio review includes a status update on Chaoda. Thanks.

    http://www.bonnerfamilyoffice.com/wp-content/uploads/2014/04/BAP-LegacyRpt-0514-final.pdf

    in reply to: Chaoda #27364

    JAY V.
    Participant

    Could anyone provide a short status of this company and its stock?

    in reply to: Is Russia Cheap enough? #27363

    JAY V.
    Participant

    added clarification re CTCM ownership-

    http://www.bloomberg.com/news/2014-04-16/putin-bank-trail-runs-from-communist-cash-to-billionaires.html?cmpid=msnmoney

    CTCM:There is a 25% ownership that is linked by owner relationships to possible government influence. A majority is owned by foreign investors. See last paragraphs of this article…

Viewing 15 posts - 1 through 15 (of 30 total)