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Re Chesapeake Energy Ready to Rise
Posted by: MritikCapital (IP Logged)
Date: December 13, 2013 02:55PM

Hi Vgm, I was hoping for Nat Gas prices to rebound in the winter months and seems to be edging close to $4.5. I suspect $5 will be a psychological level to cross. Any thoughts on XCO at the $5 level. Obviously bad balance sheet and capital raise needed but with tax loss selling out of the way and more clarity likely on the management team and plan going forward I am keeping my eye on it.



Guru Discussed: Bruce Berkowitz: Current Portfolio, Stock Picks
Stocks Discussed: CHK, NGL, UNG,
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Re Chesapeake Energy Ready to Rise
Posted by: vgm (IP Logged)
Date: December 14, 2013 10:40AM

Hi Mritik -- I got nervous with the news coming out of XCO and sold out a couple of months ago. But I bought back in around $5 over the past few days. (May sound like I'm a trader, but not). I think it's a very cheap stock at these prices. Wilbur Ross and Prem Watsa, both large shareholders, have announced that they will backstop the offering, which is needless to say a very positive development.

And in this interview, Wilbur says that his decision to put more money in speaks for itself: [uk.reuters.com]

I'm not exactly sure what his cost basis is, but I believe it's in the double digits. He's been on the inside now for a few years and the fact that he still has confidence and is ready to add is a huge vote of confidence from such a shrewd investor.

I also now have a position in SD. It's back down around $5 too, and is also cheap I think. Their new management team are making a difference. Leon Cooperman has taken a position and has given his analysis that it's worth $10. Other major holders (some activists) believe it's worth up to $15. Prem Watsa also has a major stake.

The markets have risen alot but arguably there's still value to be found in selected energy names.



Guru Discussed: Bruce Berkowitz: Current Portfolio, Stock Picks
Stocks Discussed: CHK, NGL, UNG,
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Re Chesapeake Energy Ready to Rise
Posted by: MritikCapital (IP Logged)
Date: December 19, 2013 03:01PM

Hi Vgm,Thanks for sharing your thoughts. The price of natural gas is rallying as winter is more severe than last year I suspect. Even Gurus can be wrong and can be affected by their own biases. Example is Prem Watsa and BBRY. Lets wait and see how it plays out. I am staying on sidelines on these commodity plays for now.



Guru Discussed: Bruce Berkowitz: Current Portfolio, Stock Picks
Stocks Discussed: CHK, NGL, UNG,
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Re Chesapeake Energy Ready to Rise
Posted by: vgm (IP Logged)
Date: December 19, 2013 07:14PM

Thanks Mritik. I don't disagree about gurus. They're not infallible by any means. But I would add that when a few of them get around the same idea, it gets my attention. That's the case with both SD and XCO (and CHK). Yes, let's see how it plays out. 



Guru Discussed: Bruce Berkowitz: Current Portfolio, Stock Picks
Stocks Discussed: CHK, NGL, UNG,
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Re Chesapeake Energy Ready to Rise
Posted by: vgm (IP Logged)
Date: March 25, 2014 08:02AM

The Chesepeake Buyers Club

[blogs.wsj.com]




Guru Discussed: Bruce Berkowitz: Current Portfolio, Stock Picks
Stocks Discussed: CHK, NGL, UNG,
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