You Gotta Believe!

While the shares of Crude Carriers traded down from the selling price of $19, this did not dissuade company insiders from what in their view might be considered bargain hunting. In two open market purchases, Mr. Marinakis, the Chairman and CEO, has purchased 100,000 shares at an average price of $16.34. Mr. Lazaridis, the President and Mr. Kalogiratos, the CFO, also purchased respectively 5,000 ($16.25) and 3,000 ($16.21) shares respectively. The shares closed Thursday at $16.95.

We understand that part of the price pressure was the large proportion of retail buyers (45%) in this instance who tend to buy looking to flip the shares for a quick return.

TMI?

What a week for investors! Starting with CMA’s annual event, con­tinuing with JPMorgan’s Conference and concluding with the Capital Link Forum, it is conceivable that even the most interest­ed observer of the industry may have suffered from information overload. Thankfully, with Good Friday, many of us had the oppor­tunity to recover with a long-weekend.

Despite the early start, the Capital Link Forum played to a full house. There were company presentations galore interspersed with lively and informative panel discussions. With far too much infor­mation to distill, here is a highly selected compendium of our out­takes.

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