MBN Corporation T.MBN

Clowns

[pez4]

Made the right call and unwound it in late august.

"As discussed in our second quarter report, the oil and gas positions were undertaken based upon the forecast by our oil and gas consultant, Henry Groppe of Houston-based Groppe Long and Littell, of a very substantial correction in the price of crude oil during the second quarter. This forecasted decline stemmed from the significant gap between the price at which crude oil should trade based upon fundamental supply and demand factors and the price at which it was trading based upon speculative activity in the futures market. As it happens, there has been a material correction in the price of crude oil during August but, in light of the historically high level of price volatility, MBN eliminated its oil and gas positions as at the end of August."

This company should be wound up, managers fired, and residual paid to shareholders.