01-21-2016, 12:48 PM
No one at my office talks about stocks. A new guy was hired about 2 weeks ago and he is the only other person in the office to even mention stocks. His comment yesterday at lunch while the market was in a free fall was that he sold all his oil stocks when it was at $50/barrel and wished he had sold even sooner. I said that now is not the time to be selling it's the time to be buying. When you can get XOM at greater than 4% and CVX at nearly 5.5% . He sais how long can you expect them to keep making their payments. He then mentioned he's 80% cash and the two stocks he owns are T and a shipping company (ocean) that I've never heard of that is paying 13%. I told him I avoid companies that have a yield that high. He mentions that they've made their payments the past 3 years.
So he's concerned about XOM and CVX making their dividend payments, but has no concern about a no name shipping company yielding 13% making theirs. I just had to walk away. Thought I might have a fellow co worker to discuss stocks with and this is his investing method.
So he's concerned about XOM and CVX making their dividend payments, but has no concern about a no name shipping company yielding 13% making theirs. I just had to walk away. Thought I might have a fellow co worker to discuss stocks with and this is his investing method.