Hope My Gut is RightBought some more. Really don't think the current value makes sense and hope I'm right over the long-term. General thesis as follows:
-limited downside from here (fingers crossed!) - good balance sheet and management focused on cost control
-Continue buying shares (if it stays in the $0.90's would consider dutch auction to buy-back shares) at measured pace
- If they can continue to weather the storm, their current financial flexibility should allow them to capitalize on any growth opps at attractive values
- over the longer-term, if energy comes back in favour (at some point i hope) i believe TCW will be a) well positioned to capitalize on industry growth; and b)will be an attractive entry point of funds flowing back into the sector if the transition occurs to the extent the balance sheet remains in good shape (and management seem to be doing the right things to ensure this is the case)
good luck to anyone invested and hope we all come out on the other side with smiles.