Monday, November 14, 2005

Quick Update

Dryships (DRYS) announced earnings today. They weren't great, but they weren't bad either. The stock came down a bit today, and I added to my existing position at 14.35. The Baltic Dry Index has rebounded a bit since August, and the company's prospects still look decent. The company has a bit more debt than I really like, but I don't see dry shipping slowing down a great deal with China's continued expansion. While I usually don't like to average down, my position in this company is fairly small. As a result, I am definitely not sticking my neck all that far out on this call.

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