RE:RE:RE:RE:reached my tolerance limitWalterWhy wrote: Thanks, Sarge. I appreciate it. I didn't see that article, but wish I had read it.. I bought in on the subscription receipt offering (at $31) and averaged down so my cost is now in the $22-$23 range. I will say that if this thing ever breaks $20 again, I'm going to dump all my shares and replace it with a mix of BAM, NPI, TRP, BCE and RY and never look back.
I can't believe how much value was destroyed by management of this company. Everytime I think ENB's share performance is atrocious, I just have to look at ALA to remind myself it could be worse. Then I realize I am overweight both (but at least NPI is putting up fresh highs)!
Good luck to you, too, hopefully brighter days ahead for both of us.
Cheers,
WW
SargeX wrote: Hey Walt
I just wish it would have been when ALA announced the WGL take-over and I read an excellent articel by "trapping Value" on seekingalpha that said that the WGL assest were sh*t and ALA hadmade a huge mistake.
I generally don't put much wieght on any articles (especially Motley Fool) but this Trapping Value guys is actually really good.
Good luck with all your stuff
Sarge
WalterWhy wrote: Your trims always have great timing, Sarge. Nicely done.
SargeX wrote: I continued our trimming today with selling 450 shares at $16.23. We've held thse shares since Aug, 2010. Our total return with dividends factored in is $43. Yipee, what a great investment. :-)
We had been hoping for $20, then $19, then $18, then SNAP.
This is the second trim. The first was 600 shares at $21.80 in Jan of this year. In hindsight, it obviously would have been smarter to sell all our ALA but such is life.
The 450 was an odd number as it was the reamining shares in one of our accounts. We're still plannng to trim another 1050 at $20.50 (if we ever see that price again).
I guess the bright side is that ALA is only the 2nd worst stock we've ever owned. Long Run Exploration was worse.
People can pump all they want but the "new" ALA is just a bad company with bad maangement and bad assets (other than REPIT)
Ciao
Sarge
And yet shareholders keep rewarding architects of this wealth destruction, like David Cornhill, with seats on the Board over and over again. You have to shake your head.