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Old 27th March 2020, 12:07 PM   #121
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Originally Posted by Bob001 View Post
Cruises are a luxury good. Nobody needs one. A business like that would be the first to get hurt in any economic downturn, let alone what we're going through now. What was your thinking about buying into them, as opposed to retail or just index funds?
I have a "diversified" portfolio, with the biggest portion in mutual funds, but I do pick individual stocks. A few years ago, I did think the stock market was undervalued, and I took a lot of money out of cash and dumped it into stocks. This, it turned out, was a very good move, until last month.

Overall I still ended up ahead because I sold a fair amount near the peak.

Cruise lines in particular seemed to look attractive because Carnival, specifically, seemed to be in a position to attact a lot of customers who just made a bundle in the stock market. And, they paid good dividends, and were not grossly overvalued based on earnings.

Not that I'm an expert at any of this. I spend fifteen minutes and say, "That looks cool." Carnival did me fine for a little while, but this event was something that blindsided everyone. As I've said before, if they manage to avoid bankruptcy, with or without a bailout, I think they are cheap right now, but it's a bit risky for my taste at the moment.
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Old 27th March 2020, 07:55 PM   #122
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So, they did the stimulus and the major cruise companies aren't getting anything.

Cruise lines, early source of coronavirus infections, out of bailout package

Language in the 883-page bill passed by the Senate says that to be eligible for aid from the $500 billion fund companies must be certified as “created or organized in the United States or under the laws of the United States" as well as having “significant operations in” and a majority of employees based in the United States.

Major cruise companies have located their primary headquarters overseas, which for years has allowed them to pay almost no federal taxes and avoid some U.S. regulations. To staff their ships, the companies rely heavily on foreign workers from the Philippines, Indonesia and India.

The industry’s trade group, the Cruise Lines International Association, acknowledged Thursday that the major cruise lines weren’t included in the package, despite providing a plan to policymakers, meeting with Vice President Pence, and a phone call from Micky Arison, chairman of the Carnival Corp., to President Trump.
A fool thinks himself to be wise, but a wise man knows himself to be a fool.
William Shakespeare
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Old 27th March 2020, 08:04 PM   #123
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Harumph. Don’t you hate those moralistic senators.
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