DirtyDawg

I agree 100% Swaps are a godsend from the issuers perspective. Any 2nd year Finance student knows that. Or better know that. After the debt is issued at a fixed rate it can be swapped for floating if they can find a counterparty or counterparties who want to to the opposite. But in your original post on this subject you indicated the buyers of those bonds "those tempted" bought at 675 over some LIBOR(OIS) rate. CCL might have swapped it for 675 over a LIBOR (OIS) rate after issue, but did they? I don't follow CCL closely so I might have missed that announcement. Please feel free to post that information from CCL. I'm curious what they managed to do with this issue. So my apologies for my first post. I was on the buy side for 30 years so that's my perspective. ( Well, actually only 28 years because they managed to lure my over to the dark (sell) side for 2 years). You were coming from the issuers side.

But what they issued was fixed rate with a maturity of May 2028. "The Senior Priority Notes will pay interest semi-annually on May 1 and November 1 of each year, beginning on May 1, 2023, at a rate of 10.375% per year, are callable beginning May 1, 2025 and priced at 98.465% of their face value. The Senior Priority Notes will mature on May 1, 2028." I am not a bondie, but I have managed balanced funds, and I have never seen any one issue a 5 year fixed rate bond priced at xx basis points over a 3, 6, or 12 month index rate. They issue those at xx basis points over a 5 year risk free rate like a 5 year treasury.

I am trying to be nice to you. Please look up what LIBOR is and the maturity of the debt CCL issued.

Please look up what LIBOR is.

🤣 Sorry, but using the spread over LIBOR is maybe the funniest thing posted on this thread. 🤣 You better hope this secular growth business will outlive LIBOR. https://www.forbes.com/advisor/investing/what-is-libor/

And knowing the Credit Ratings Agencies, about six months too late.

And for the nautically minded, just picture in your mind a sinking Chinese Junk, and you will get the idea of what a Junk bond is. 😁

For high financial and operating leverage companies like cruise lines I don't look at EPS and P/E's. But barring a recession in 2023 the consensus seems to be they will in the black with accounting earnings late next year. Of course, Wall Street earnings estimates are known to be tilted to the optimistic side. So take the consensus estimate with a grain or 2 (hundred) of salt. 😁

That CCL debt was issued at a yield of 10.75% . They call those bonds Junk bonds.

C'mon what does old Warren know about value investing? Now that young Sam Bankman-Fried hotshot knows value investing! 😉

I think you misinterpreted my post. That's OK, I probably should have added a 🙄 after "This is the 21st century, reality is ... what is posted on the internet. 😁😉" Have a great birthday.

$60.51 -$ 37.59 = a gain of $22.92 $22.92/$37.59 = 61% Better get you abacus tuned up. 😁

And the folks in the inside cabins or still asleep can catch the sights on the internet and feel like they were right there beside you. Because somebody's taping them and posting it! (Or should I say, taping a video selfie of themselves gawking at the dolphins.) This is the 21st century, reality is ... what is posted on the internet. 😁😉

Do you mean making an accounting profit or generating a positive cash flow? These are two very different things.

Perhaps we should also say "no one should invest in crypto unless they could easily withstand a substantial, or total, loss of the money invested" too! 💥 Although using the terms invest and crypto in the same sentence is a wee bit of a stretch. 😉

I would never mention shareholder obc because I couldn't care less about that stuff. Perhaps because I've never invested in RCL - only speculated in it from time to time. 😉 The value of the underlying assets might not change dramatically or quick but the price (note,I didn't say value) of the stock can be, and has been very volatile. Heck, the darn thing is up 60% in two months. Of course it could be down 60% in the next two months. Now that is volatile with a capital V! BTW, @Kilroyshere analogy about the winter coat is one that has been used by contrarian investors for a very long time.

I am also a contrarian and a value investor who was in the industry for over 30 years. I agree, buy that winter coat in the summer that’s deeply discounted, cheap and on sale when nobody wants em. But , and it's a big BUT, check closely for any moth holes deep inside or that winter coat might turn out to be only a decent fall coat. And the deep freeze of the winter is not here yet! 🥶

This just confirms what I heard earlier. After he helped fix the Enterprise's time warp problem he and Captain Kirk had a little party with a couple of green Orion slave girls. C'mon people, as Sherlock Holmes always said; "when you have eliminated the impossible, whatever remains, however improbable, must be the truth." - Case closed! 😁

Why so 😕? Jackie bad mouthing the cruise lines is a good thing. You should be 🥳 🥂 She might cause demand to decline and as we all know less demand with the same supply = lower cruise fares! Go Jackie Go!! 📣

I was just checking prices on their Thatch Thursday sale . Darn it, I missed their GREAT Teal Tuesday and Wheat Wednesday sales. 😉

The current higher prices are not the cruise lines' fault. Cruise line customers are increasing demand by flocking back to the sea in droves with all that cash they saved over Covid. If you are concerned about these higher prices, don't cruise! Or convince your cruising friends to cancel their cruises and go to Vegas, or Orlando, or Poughkeepsie, or .... Oh, and I hear Superior Wisconsin is beautiful this time of year. 😉

This thread will soon be; "sleeping with the fishes!'"

I heard from a reliable source that what actually happened was Scotty beamed the guy off the ship and he helped Captain Kirk and Spock return the Enterprise to it's proper time period. They just beamed him into the Gulf so he had a cover story for those missing hours. 😉

I hang a picture of my late Norwegian Blue Parrot. 😥 🦜 "If you hadn't nailed 'im to the perch 'e'd be pushing up the daisies! 'E's kicked the bucket, THIS IS AN EX-PARROT!!"

In the past I've asked my boss for a 10 rating - and a big raise 😉 , but never while he or she was eating lunch (unless I was buying), or on the phone to his/her spouse, or when they were in a meeting with my other colleagues, or on a Sunday afternoon when he/she was watching the NFL, or when they were in a meeting with their boss. The concept of "there is a time and place for everything" seems to be getting lost on cruise lines these days.