GREY:LSTMF - Post by User
Comment by
jerrybeon Sep 16, 2014 9:27am
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Post# 22939385
RE:dividend today
RE:dividend todayI hope your doubling down will pay off. You are courageous.
Munger bought Wells Fargo at a distressed price in 2008: Great assets at a distress priced
We bought LTS at a distressed price in 2011 (first massive drop), 2013, 2014: Good assets at a distress priced...but so poorly managed
-> We will not do so well as Charlie!
I am not adding anything more at these levels. I gave up on this management. I understand the piecemeal asset sales approach (relative to a wholesale approach of their mix of assets all over the place). They got good metrics from Crew and Crescent but now we are left with Bakken, Cardium and Swan Hills. The Bakken is our saving grace...in the process the firm went from an EV of $4Bn to $2.5Bn...