RE:holy f*ck Hey Sarge,
Hope you been keeping well. Having owned large positions in both ALA and AQN prior to both Harris and Banskota making moronic "think-they're bigtime CEOs" decisions to buy WGL and Kentucky Power while destroying billions in shareholder value, I couldn't agree more. At least Harris and Banskota got the boot relatively soon after their colossal failures.
I thought ENB would be spared from such stupid decisions, since the share price hasn't really recovered back to their pre-Spectra price, but I underestimated that with Monaco gone, Ebel stepping in as new CEO would have wanted to "leave his mark", and this is a mark alright.
I fail to understand how, in this current rate environment, they made the decision to do such a heavily dilutive offering and incur debt to take on assets that Buffett presumably passed on not even 3 months ago.
ENB is my largest pipeline holding, followed by KEY and then PPL, but I was also thinking of dumping PPL before they make a similarly stupid decision. We should all give ENB Investor Relations hell tomorrow, becuase they really hosed us today.
~WW