RE:Schulich, Perngrowth and BirchcliffFor those who haven’t experienced a Hurricane Harvey or Irma it will give them some sense of what it’s like to be long Birchcliff right now, or conversely, to be short in Pengrowth.
It gives us a taste of what it was like in the days of J.P Morgan or J.D. Rockefeller. It’s sort of like “all huff and puff until I blow your house down.” Or perhaps even better in Rockefeller’s own words, “ give them a good sweating.”
I’m thinking that Schulich may be mostly finished selling for this reason: mathematically selling Bir to buy PGF at this point have a cancelling out effect. What’s gained on the swings is lost on the roundabouts. I’m saying it might be possible not that it’s a fact!! It’s very much Schulich’s prerogative to continue selling Birchcliff until he drains his position.
But today sure sends a chill to the boys at the other end of this story, those who are short Pengrowth. Good luck on that one fellas!!