RE:RE:RE:RE:RE:Played outDon't get me wrong. This is a good company and I am a proud owner. It's just highly valued relative to other leveraged names that are going to have more torque with rising oil prices as the leverage has suppressed their share prices longer.
Nuttall always flocks to torque. Think BTE, ATH, MEG, NVA (though this one is gassy).
I don't love the "how many years to buy back all the debt and shares" graphic that Nuttall publishes. For one, share price is constantly moving. So maybe it would have taken 3 years when TVE was $1.50, but now it will take 4.5 years only a week later. It's a weird way to express things.
The second problem is that companies with low debt will have little torque with rising oil prices compared to higher debt names. So the graphic makes low debt companies look good but higher debt companies are going to provide more reward in a rapidly rising oil environment.
This is why I think he exited when this shot up to $2.20. There just isn't much upside from here until we see oil in the $70-75 range which we will probably reach later this year.
Nuttall likes to jump around. I like to buy good companies and hold for the long term. TVE is a great company and I'm holding long and strong.