PRD Energy Inc PREGF

Casey Reality Check

[dimebag]

I'm not here to badmouth Casey,Marin or PRD but the "money in the bank" comment inspired me to write in with a dose of reality.I have access to all of casey's publications,not just CER,and I can tell you that it has not been very pretty.I just reviewed all their portfolios,energy and precious metals(skipped tech as it's not resources).It's even worse than I had imagined.There are numerous stocks down big time.And by big I mean up to the 80% range.CDE down 67%.REO down 60%.PTV recently sold for a 77% loss.During the Poseidon disaster,they advised buying at about $6 after the original hit saying that they felt it was overdone.I think it's delisted now.Geothermal,a sector they loved, was a disaster of biblical proportions.Yes there are a few winners.Most small or ones the've held for years but the losses FAR outweigh the gainers.Does that mean PRD is not for real?Not at all.Nobody can be wrong all the time.My point is to just be cautious.Nothing is for sure in this business.Nothing! And don't let a slick marketing campaign cloud your judgement.Of course Greenwood is positive.Not often you hear negativity out of the CEO.Virtually everyone here will be sitting on nice gains.If there's one thing I have learned,no matter how positive you are on a story.always lock in some profits,especially in this sector.Nobody preaches that more than Casey and especially Marin who ALWAYS sells half on a double to ride for free.Sadly he hasn't had to impliment that strategy  too often.