Brian Acker knows little or nothing about energy, he uses a black box model to generate valuations, a quant model of sorts to assess. He is one of the last MF managers I would follow in Canada as to the markets let alone pay any attention to his advice on the energy and materials sector. I well remember his famous quote a decade or so a go, "my grandchildren will never see $500 gold" , gold was in the $300 range then, he expected it to go down. The rest is history, sort of Gartman like.