Eric's Letter I just read his letter and the tone of it is very whiny and he is is sniveling. If I was a CEO of one of those companies I would just focus on the longer term and pay down your debt with your cash flow. Mind the business and over time the market price will take care of itself. If you want a good example just look at Parex where they have no debt and they are buying back 10%of their stock in a normal course issuer bid. No surprise that Parex is far outperforming its comparable Canadian peers in the oil patch. Eric is just mirroring the emotions of his retail client base and those retail clients are a great contrarian indicator.