Home Forums Hunting & Shooting Hunter's Campfire At What Point Would You Buy BP Stock?

Nothing pleases me more than hearing some of these guys saying BP is going BR and they wouldn't pay 10 cents for a share. Way undervalued stock because of fear and worst case scenario thinking while the savvy will make a schit load off that fear and doomsday thinking.

It's what makes the world go 'round,I suspect.

At what point did you buy Government Motors stock. GM stock holders got screwed and so will BP holders.

Have some CD's maturing and am giving it serious thought. I suspect though that value might halve again. If so, I will get on board.

If we had other leadership in Washington I think it "could" be a decent opportunity. Not with the money grabbers in office now however. They write new rules everyday out of thin air.

Common sense. First, unless you live here you can't imagine how many people make part or all of their income from the seafood and beach industry. It's far from just the guys on the shrimp boats. For example, there's hundreds of people who make their living by buying shrimp directly at the docks and selling it roadside throughout Louisiana, Texas and Mississippi or door to door. God only knows how many ice plants have or will shut down. Motels, restaurants, on and on the list goes.... One loss causes another loss seemingly not connected to seafood or beaches.

Second, I believe BP almost went bankrupt about five years ago. Even if that's not true, they're not stupid today.

Re: BP greed which someone jumped me about. I suspect this fiasco will eventually be blamed on BP officials not willing to hit the panic button and close off the well because they would have lost 5,000 ft of 21" casing and the 5,000 ft of wet concrete it contained.

Where in h*ll did you get that info????????

"Common sense"
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That brings the discussion to a abrupt end!

Clearly you didn't bother to read any of the posts above, which is not surprising. Unlike GM and the US banks, BP is a MULTINATIONAL corporation, and their U.S. assets are a fraction of their total worth.

I bought BP shares last Friday and may buy more tomorrow.

BP stock is going to be hot,hot,hot over the next week!

You might have a point there. The FEMALE in charge of the Rig did hesitate to hit the panic button, but incompetence and indecision might be the culprits, not greed.

As Issac just said - end of discussion on your "common sense" bit. And FWIW, I do live here and further south than you. Basically, you ain't even in the same ballpark as the game that is in progress. You have no clue - but - your opinions are respected here. Keep'em coming. And, BP has never come close to becoming bankrupt. Just "common sense" tells me that.

The current economy has turned some financial stategies upside down.......IMHO.

Again, IMHO, as far as purchasing BP stock is concerned, people that can afford to take the chance.......should. Those who can't.......not so much.

I think Exxon is the safer bet. There stock has dropped do to being an oil company, but they don't have an liability in the deepwater fiasco. While they could deservedly be called the most ruthless greedy bastard oil company, they are the best at making money in the oil industry.

When to buy bp stock has been a big topic at work lately. I'm risk adverse, so figure Exxon is the better bet.

Most people figure this won't bankrupt them, but it certainly hurts them.

Various scenarios are, there price drops so low that somebady takes them over, but the question that company has to ask is how do they insulate themselves from the liability. The other scenario is BP sells off some or all US assetts to cover the costs of the cleanup, they may also loose their license to opperate in the US, which would also drive them to sell off assetts. And, if they no longer opperate in the US, what leverage do to courts and government have to make them pay for damages?

How did this happen Sam (made good money). In normal bankruptcy, the stockholders value is wiped out (Sears, K-Mart, , etc.) even thought the company may survive as a new corporation. The only way I can figure it out is you bought at a low spot and sold on an upward bump.

Man, you guys are playing with fire. I wouldn't touch this thing without some tight Stop Limits.


HOUSTON (AP) -- With each new look by scientists, the oil spill just keeps looking worse.

New figures for the blown-out well at the bottom of the Gulf of Mexico show the amount of oil spewing may have been up to twice as much as previously thought, according to scientists consulting with the federal government.

That could mean 42 million gallons to more than 100 million gallons of oil have already fouled the Gulf's fragile waters, affecting people who live, work and play along the coast from Louisiana to Florida -- and perhaps beyond.

It is the third -- and perhaps not the last -- time the U.S. government has had to increase its estimate of how much oil is gushing. Trying to clarify what has been a contentious and confusing issue, officials on Thursday gave a wide variety of estimates.

All the new spill estimates are worse than earlier ones -- and far more costly for BP, which has seen its stock sink since the April 20 explosion that killed 11 workers and triggered the spill. Most of Thursday's estimates had more oil flowing in an hour than what officials once said was spilling in an entire day.

"This is a nightmare that keeps getting worse every week," said Michael Brune, executive director of the Sierra Club. "We're finding out more and more information about the extent of the damage. ... Clearly we can't trust BP's estimates of how much oil is coming out."


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http://finance.yahoo.com/news/With-...pStories&pos=3&asset=&ccode=

I've had Exxon stock from shortly after their FU and agree with what you suggest. Not a killing, but nearly so.

This one is much more of a crap shoot given it's size, company origins and all.

Bingo. If/when BP has to sell out to Exxon (???) the stock will skyrocket, and mega bucks will be made IMO. Isn't there insurance available for some of the cleanup?

A BP play at this time is and should be pure speculation made with "fun money" that might otherwise be invested at the Track or Vegas, or Reno. I would never invest money that, if lost, would change my lifestyle.

A crap shoot for sure.

Wasn't there a law passed back in the '90's that limits their liability for clean-up? BP has insurance for much of the clean-up cost. Also, Obama's demand that they reimburse employees of other oil and drilling companies for lost wages due to his moratorium on drilling won't hold up in court.

Eventually, BHO will realize that bankrupting the company means they won't be around to pay for any of their remaining liability.

GM wasn't multinational like BP??? Saab, Opel, Holden....

BP was self insured.

Bam-Bam will bankrupt the country and it's citizens before he coukld bankrupt BP. Some obviously don't understand the complex and monumental diversified holdings and assets of this non US controlled and owned company.

If BP were to get in such financial straits as to sell or merge, I'd suggest buying some stock at as low as you can comfortably get it.

Ultimately, BP will still be standing strong this time next year.

I'll research to refresh my memory but didn't the USSC even give Exxon a financial reprieve after the Exxon Valdez fiasco?