RE:RE:RE:C'om Wease; Get Realistic Hey Reflect - I actually started buying RPL when it was in the 4’s (since 2010), so I’d consider myself a ‘long-term’ holder. Not sure if you’re new to the RPL Bullboard, but most others know my story:
https://www.stockhouse.com/companies/bullboard/v.rpl/renegade-petroleum-ltd?postid=22188199
I have made money in this name. Between two accounts my ACB is ~$1.31, although I substantially trimmed my position at $1.43. All I have left is 4,500 shares that will be converted into SPE on or about April 15. I will give the Spartan dudes some time to impress me.
I believed in the assets of RPL when I started buying. I became ‘disenchanted’ when management purchased the SE Sask assets from Penn West (pile on the debt to pay a dividend, in the shadow of Whitecap….bunch of morons). Anyways, this said, I still knew the value in the assets so I kept buying. But this is the only reason I made money – averaging down over many years. In the end I’m OK with $1.50 sale only because I’m getting out ahead - some of my buddies just thought I was throwing good money after bad along the way. Are the assets worth more than what Budd and the crew got for them? If a guy bases a decision on nothing else other than what RPL had to pay for them from Penn West in the first place, then I’d say absolutely yes. But also remember, the A&D environment was different back then too.
In comment to some of your posts, I personally think that to an extent the entire system is rigged. So not just the Venture, but also the TSX, Nasdaq, NYSE, underwritters, etc etc etc etc. Among other things, between how the ratings agencies operate (how they generate their own income), hedge funds and institution analysts that track equities and give them buy/sell/hold ratings that their own investment houses own, there are a plethora of conflicts of interest. Just pick your poison.
Lots of people have lost money. Lots of others have made money. Welcome to the world of investing.