Imagine you're Robert Bugbee and you have just given your strongest earnings guidance ever as a public company, fixed an LR2 tanker for more than $170,000 per day, wowed a corps of equity analysts ... then watched your stock drop more than 10%.
Humour seemed in order, for without laughter there are only tears.
"Perhaps in hindsight we should have missed earnings, lost money, guided lower, cancelled our dividend and increased our forward capital expenditures and debt, because clearly we were surprised that what we did announce did not result in a positive stock-price reaction," Bugbee told TradeWinds after market close.
