Nordic American Tankers Ltd (NAT)

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The CEO should be retired. His performance on the Conference Call was one of arrogance to stock analysts and to individual shareholders. He does not want to acknowledge his mistakes--and the pathetic attempt to suggest that he sold near the multi-year highs for tax reasons. Give me a break. That is a blatant lie.

He and his family sold because they new the industry trends were going against them and they knew the stock was headed down. They knew they were going to cut the distribution/dividend. All while they were pumping their stock on CNBC.

They have bought back a mere fraction of what they sold despite the stock trading 40% of the price they sold at. Why have they not bought more?

Because they know they are not out of the woods yet.

Behind closed doors and over a beer I bet management regrets contracting for those three ships because it forced them to sell more stock and cutting the distribution more than would have been necessary without the 30% downpayment and another 70% due.