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Tenaris ADR Rep 2 Ord Shs T.TS.B


Primary Symbol: TS

Tenaris S.A. is a holding company, which is a steel producer with production facilities in Mexico, Argentina, Colombia, United States and Guatemala. The Company supplies round steel bars and flat steel products for its pipes business. It operates through Tubes business segment. The Tubes segment includes the production and sale of both seamless and welded steel tubular products, and related services primarily for the oil and gas industry, principally oil country tubular goods (OCTG) used in drilling operations, and for other industrial applications with production processes that include in the transformation of steel into tubular products. It operates in geographical areas, such as North America, South America, Europe, Middle East and Africa, and Asia Pacific. Its products and services include OCTG, Premium Connections, Rig Direct, Offshore Line Pipe, Onshore Line Pipe, Hydrocarbon Processing, Power Generation, Sucker Rods, Coiled Tubing, Industrial and Mechanical, and Automotive.


NYSE:TS - Post by User

Comment by Mediawatcheron Mar 06, 2018 7:07pm
85 Views
Post# 27672145

RE:RE:RE:RE:RE:The spike in share price won’t hold

RE:RE:RE:RE:RE:The spike in share price won’t holdHi extreme,

I fully understand your frustration with this investment as the list of poor investments and management decisions over the past decade are unbelievable.  You can't attribute this to bad luck - this is gross incompetence.

For instance, they sold Harlequin too late and got a fraction of the value it held a few years earlier.  I would estimate its value at more than $800 million if they had marketed the company rather than waiting for Harper Collins to show up on their doorstep.  

Similarly, the  2006 investment of $283 million in Bell Globemedia was more than ill-advised and was another squandered opportunity.

VerticalScope may in time also confirm their reverse Midas Touch in the same way as their investments in Metro, WagJag, Workopolis, Star Touch and the list goes on.

If Torstar was loaded with debt and was hemorraging cash with no dividend and no white knight in sight I wouldn't touch this investment.with a ten foot pole.  The Voting Trust is well past their best before date and will eventually concede they are in well over their heads.  They will find a way to gracefully hand over the business to Fairfax with Honderich securing some kind of benign sinecure to assuage his delicate ego.

The real money that could have been made from Torstar over the past decade was going short, not long.  Shorting carries lots of risk and is only for the truly adventurous.  I have not made money on the short side of this stock, but I only went long under $2 when I determined it was oversold and grossly undervalued.  No guarantees with any investment, but the signals suggest Torstar finally represents an opportunity to make money inspite of the Voting Trust and poor management.

 
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