atans1

Noble turned deadbeat

In Commodities on 16/05/2017 at 1:43 pm

Noble trades at less than a third of book value and its bonds below half their par value.

Sounds a value propisition if the auditors can be trusted.

Whatever, the catch is that banks are cutting back even further their exposure to this trader. And traders need credit like vampires need a regular supply of fresh blood.

Right now Noble’s a zombie.

Phew, consulting my I-Ching made me hold off a decision to buy into this before the share consolidation.

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  1. A lot of vampires bit on Noble on 16 May. I may nibble if it goes below 20cents. Hahaha!

    Got strange feeling of stock bubble over next year or so. Plenty of other food to consider other than Noble. Hopefully won’t get food poisoning. Hehehe

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