RE:Eric Nuttal On MarketCall This MorningBoth Nuttal and Schaecter have been looking like clowns the last 2 years. Don't get me wrong. In a different, more normal market, they would look smart. But their calls on price of shares, price of oil, drilling activity, mergers and acquisitions - everything has been dead wrong. If you look at their past picks going back 2 years, most are down 80-90%. Nuttal is a joke regardless because if you look at his picks and then look at what he's done with his fund - he will recommend stocks on bnn while he sells them from his fund. TCW is a perfect example of this. This shows you the type of character he is.
Now, if there's a spike in oil, they will show up and say we told you so LOL. Until then, the losses keep piling up for most oil and gas sector investors.
CPG is doing the right thing. Protect the balance sheet by paying down debt. Reward the patient investors by buying shares back, so when the tables turn, and they will at some point, the torque upward will be a lot bigger.