Sold Frontline – staying with Shipping Sector

AMP

Sold Frontline ( FRO )

Friday Dec 6 at $3.50

Net profit 33% 

Rational: The recent move up in the price is not based on the fundamentals of the Company – rather the admission by the Company that it must reorganize to fend off looming defaults and bankruptcy. The shares rose this week and we were happy to part with our position and a very nice margin.

I was happy to take my profits – even our remaining position in Dryships is more secure than Frontline. I think it reasonable to say the better shipping stocks like Diana ( DSX) and Safe Bulkers ( SB) , Ship Finance (SFL) are going to prosper on our scenario of a better world economic outlook and rising Baltic Dry Index rates.

You can profit with Jack A. Bass Managed Funds – we earn our fees because we are performance based not fee based.

Portfolio  Management : Engagement Process for Jack A. Bass Managed Accounts

The Engagement Agreement authorizes us to officially act on your  behalf and also provides for protection of confidentiality in regards to the dissemination and distribution of your sensitive financial information.

Generally you will name Jack A. Bass as a person allowed to trade your portfolio – BUT without any authority to remove funds from your account.

Due Diligence. Once our company is engaged, we undertake the required due diligence to confirm and verify the necessary information required to execute your request.

Evaluation. After due diligence we evaluate your / your  company’s current value and estimate future value based on recent market and other comparable data.

Fees. Engagement Fees are  NOT based on the number of hours and direct costs required to complete due diligence, perform an evaluation, and prepare the necessary information to support your request that we act for you.Our initial review: this includes performing financial analysis, conduct competitive comparisons, in- depth financial reviews, and validating the necessary information to prepare the most compelling portfolio related to your needs. We earn our fees by performance : 1 % per year as administration 20 % of annual portfolio gains calculated twice a year There is no cost or obligation to contact us at info@jackbassteam.com ( or call Jack directly at 604-858-3202 – same time zone as Los Angeles) Main website http://www.jackbassteam.com

 

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