It was interesting -- going thru the notes last nite, the analysts all acknowledged that "right after bp spill, analysts were making the valuation case."
With TOT the 7bn loss market cap from first day implies 16bn cost for the spill (given their ownership just under 50 percent). This could be factoring in all or more of the bad news. BUT as we have seen time and again, when it comes to these broader disaster effects, it's not about valuation, it's abt headlines ... Cld pick up a cpl pts but downside is significant
From: James Cramer Sent: Thursday, March 29, 2012 7:07 AM To: Nicole Urken Subject: RE: Audible--They can't stop the Total leak -so we can't do it
I know –it is more of a sell that a buy
In Thursday’s “ Mad Money ” show, we were keyed in on the Dreyfus Affair — you know, the political scandal at the turn of the 20th century in France, where Alfred Dreyfus was sentenced to life imprisonment for allegedly having passed along French military secrets to the German Embassy in Paris. While his wrongful conviction — brought to light by Emile Zola’s “J’accuse” — was ultimately withdrawn, this came only after years of imprisonment and scandal.
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