Global Value Investing

[Drexion2004]

I like NM alot more personally. If you subtract the market cap ownership of NNA and NMM, you barely pay anything for NM or NSALI-subsidiary -- At least that was true yesterday when I bought tons below $3 ;).

Lower yield, only about 8.2% yesterday, but more growth prospects and NM benefits from being able to 'pass down' ships to NMM/NNA.

GSL has gotten crushed on fears from CMA-CGA bondholders...Getting very very attractive here at $2.7ish as well in my opinion (I expect other shippers will bounce harder first though, so may sell some NM to buy more GSL if we spike there first as I hope). I expect they will be able to pay a 0.40 dividend by the end of the year once they get the ZIM ships.

-Fernando