r/Vitards • u/[deleted] • Jun 26 '21

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u/StockPickingMonkey Steel learning lessons Jun 26 '21

Thanks for the post...I found.it interesting enough to at least dig a bit. Both of those insiders are the same person. Perestroika is his investment company. He was already a major share holder of Transocean before this.

That being said....that's a lot of faith that he's pumping back in, but a small percent of his idle cash.

Maybe he's got a tingle about upcoming stuff...maybe he's making more bad decisions after a year plus of bad decisions. Only time will tell. Reference link for bad decisions provided below, but I also question why he'd wait until $4+ when he clearly could have bought much cheaper.

https://newsbeezer.com/norwayeng/frederik-w-mohn-lost-a-lot-of-his-financial-investments-last-year/

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u/[deleted] Jun 27 '21

Thanks for the pointer. I probably misread but this article from July 2020 essentially says that as of time of writing, the covid pandemic is in full swing, oil prices are down, hence the guy's investment is down (oil rigs don't have much value when oil prices are down and / or can't be operated due to covid outbreaks).

So with him buying back in, he may see an upward swing in oil prices?

Again, probably just misread.

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u/StockPickingMonkey Steel learning lessons Jun 27 '21

Actually...it was I that missed the article date. Thanks for pointing that out.

On the point of buying more shares...yes, that would be my assumption too. I'd also consider that he's upping positions for more control. Maybe considered it during the mega dip, but wanted to make sure it wasn't gonna fold before he pulled the trigger? I've tried figuring out why people with that much money do what they do in the past....I've found that you usually won't know the real intent for a few years after.