Carnival Corporation (CCL)

Shares of cruise line operators were hammered last Friday while precious metals languish despite inflation worries.

The company's massive debt and significant share dilution plus its uncertain prospects continue to make it unattractive to this value investor.

Plus, a look at where central bank policies appear to be heading.

Let's remember, when the government is working together, it can accomplish great things -- like avoiding what could have been the worst downturn this nation and this world has ever seen.

Other cruise operators suffered more damage to their capital structures due to the pandemic but none appeal to this value investor.

Like Carnival Corp., this rival cruise line operator has seen its debt and shares outstanding climb over the last 18 months.

The cruise line operator still appears overvalued based on its huge share dilution and its iffy business prospects near term.

Buyers make or break companies with their voting or buying or betting. Somedays it's all that matters.

The cruise operator is burning through tons of cash and cautions that its third-quarter margins will be below normal due to restrained occupancy rates.

It is hard to justify the current price of the cruise line operator based on big increases in its debt and shares outstanding.

These calls look very attractive to me.

Let's look at the many positive story lines out there -- which having nothing to do with the Fed -- and what they mean for investors.

Welcome to the 'new' old world -- the world we had before all the new people and their money came into the market.

The company is in a secular downtrend fundamentally, but the stock has risen with the market in this wild ride over the past 12 months.

The window the company offered this week on its results and financial state continue to give this value investor pause.

What's really important is when will passengers return -- and here's my bet on that.

The issue is when the data conflict with the prevailing narrative. We are in such a position now.

Looking at a painting by Renoir side by side. You see beauty. I check my watch. The same is true with economic policy.

I think it's worth examining how we can spot a bottom the next time after the inevitable selloff.

Let's look back at how the market reacted to COVID-19 one year ago, and the lessons we can learn.

Here's where I CCL going soon.

Carnival Corp. continues to sell debt and equity as it works to stay afloat, while Steak n Shake deals with problems of its own.

Traders are betting that there is a lot more potential upside in these names.

The market's funk continued into the fourth week of March 2020, but by week's end a stellar TV performance by the Fed's Jay Powell would turn the tide.

The company's voluminous and expanding debt and massive increase in shares outstanding make it unappealing to this value investor.

As an early vaccinator I can tell you that you can make money from these strange things provided you do them before everybody gets the jab.