The folks at Houston investment bank Tudor, Pickering, Holt & Co. are considered pretty sharp when it comes to following the energy business. They also happen to be pretty funny, which makes their daily research notes welcome in most e-mail in boxes.
Today they shared some thoughts on the recent news of Somali pirates hijacking a Saudi supertanker out at sea:
“Not often that solid execution of plan is a big negative…but this is a clear case of dog catching car. ….. Kudos to pirates for thinking big…but demerits for thinking too big as this won’t end well. Investment rating: Somali pirates = Strong Sell.”
And some other Somali pirate headlines that the TPH folks had forwarded to them that you likely won’t see in the Chronicle or elsewhere.
• SOMALI PIRATES APPLY TO BECOME BANK TO ACCESS TARP
• PAULSON: TARP PIRATE EQUITY IS AN `INVESTMENT,’ WILL PAY OFF
• KASHKARI SAYS `SOMALI PIRATES ARE ‘FUNDAMENTALLY SOUND’ ‘
• Moody’s upgrade Somali Pirates to AAA
• HUD SAYS SOMALI DHOW FORECLOSURE PROGRAM HAD `VERY LOW’ PARTICIPATION
• SOMALI PIRATES IN DISCUSSION TO ACQUIRE CITIBANK
• FED OFFICIALS: AGGRESSIVE EASING WOULD CUT SOMALI PIRATE RISK
• FED AGREED OCT. 29 TO TAKE `WHATEVER STEPS’ NEEDED FOR SOMALI PIRATES