Most energy plays in the same period are up 100%. I have seen companies come and go and more failures than success stories. Every single one of them that failed had people like you defending them till the very bitter end. Here you sit barely higher than a year ago while energy prices have gone up 70%. Why am I here? To remind myself to get out of companies right away that talk of greatness without delivering.
Company Officers and Directors
Buying Selling
CEO None -$744,440
CFO None -$495,840
OFFICER None -$593,965
DIRECTOR $92,695 -$34,454
Total $92,695 -$1,868,699
Net Selling -$1,776,004 Most of these sales are within last few months. Check it out for yourself INK reports. How do
they expect anyone to have faith when they clearly don't. Paul with the biggest amount of
shares sold.
Maybe it's the relentless selling because of their loss in belief of this company to deliver. I had 480000 shares in Jan and have been continuously selling since the beginning of March. Down to 5k shares as of this morning . A lot of people want to blame it on traders saying they are not real investors. Take a look at the highest flying stocks in any stock exchange and you will see that they are all heavily traded. That is a good sign unless in free fall that a stock is heavily traded not a bad sign.
Not even worth listening to. Just more of the same excuses and delays. I am almost completely out and happy to be. Even if you can still believe the never ending delays I still don't see any point in owning this right now with months before anything expected to happen.
In the last 3 months probably the worst performing stock I have owned in 35 years of investing including the dot.com bubble and the 2009 meltdown. Seriously don't even know why I haven't sold the last of the stock I have been holding. Now that I got that off my chest I will refrain from posting because I have nothing good to say about this near fiasco performance of late.
Would let go at 1.50 in a heartbeat bring on the sale. Lots of good companies out there I would be glad to park my money. Sold most of my shares already a month ago and most on this board said I was nuts. Still not selling the rest at these levels but jump at 1.50.
Now you are with me lol ? Those 2 are the worst everything that comes out of their mouth is only self serving. They would try and convince you the best time invest in pumpkins is the day after Halloween. Not saying they are not smart but if they own they will pump it.
Let’s go there and talk about man of the hour, Eric Nuttall. The last man limping in the active management of an energy fund. People want me to talk about Eric Nuttall - I have resisted so far, because he fails the bigliness test. Also, I didn’t want to pile-on - his fund is down 75% YTD. The 5 year CAGR is -32.64%. For weeks, I thought that there will be a more gracious and propitious time to write. But I have constituencies to serve and I have assertiveness issues, so here we go. In 2004, I actually cold-emailed Eric Nuttall who had just started working under Eric Sprott. I had read that Nuttall liked some speculative Venture company and I wanted to talk about it. Believe it or not, at that time, Nuttall was a generalist. We did have a bit of a dialogue. I subtly suggested we meet to swap ideas, but Nuttall didn’t seem too keen. And I understand - Sprott was white hot back then. Eric Sprott was at the apex of the Bay Street pyramid. I was working for a much more obscure firm.
So Nuttall made nice coin when Sprott went public - the figure I hear is $10 million. I am told he has a nice home worth a few million that he’s renovating. And those extreme cut-away collar shirts he favors can’t be cheap. I know they don’t offer them at Uniqlo. People are pointing at the unfairness of this situation. A few weeks ago, in response to him talking about insider buying in energy stocks, I asked him on Twitter how much of his own fund he was insider buying. This was our exchange:
As you can see, he didn’t reply. The question still stands: how much of his own wealth did he have in his fund this year? He constantly strikes an optimistic tone in public, is he putting his money where his mouth is? Nuttall also constantly opines on the price of oil. I think he is well placed to know how delusional that is. His mentor, Eric Sprott, was the chief promoter of the Peak Oil theory back in the early aughts (the notion that oil production would soon hit a peak and then enter into irreversible decline). Remember all that? The energy people had some good times for a while. I was so gullible, I believed in anyone who could put up high numbers even for two years. There was a time I thought I should make Peter Linder my mentor. Shortly after, his natural gas-focused fund lost 99%. Ironically, watching an interview of John Embry, a close associate of Sprott, eventually gave me the insight to avoid all resource companies. He said all resource companies are in the business of liquidating their assets. Unless they trip over a mining discovery, strike oil or acquire new assets, all resource companies have a predictably finite life. Most ordinary operating companies like a Coca Cola or Disney have an indefinite life. The other weakness is, of course, the unpredictability of commodity prices. Too soon?
The other reason I didn’t want to write about Nuttall is that the “pain trade” will always reverse at some point in time. Almost everything mean-reverts in finance.
Not a fan of his or Eric Sprott . https://opmwars.substack.com/p/i-have-been-bullied-into-writing.
Hate being right . We were 1 bad release away from tanking. Glad I reduced my holdings but apparently not enough. Arguing what this is worth is senseless. I'll tell you what is worth . A stock is only worth whatever you can sell it for .
https://gofile.io/d/ofJEAi (finnCapp)
In oversold territory now. Noticed uptick in bids which was the sign I was looking for on Canadian market after morning drop . Little or no downside from here in my book and could explode upwards with good test results. Good entry point if your looking to get in or top up.