Mike Cutler
Long/short equity, event-driven, mid-cap, small-cap

Update To Whiting's Trust Valuation: 48% Below Current Prices

Opening commentary: Much has been written about Whiting USA Trust (NYSE:WHX) similar to this article. Many of you are thinking in frustration, 'another article arguing WHX is over-valued, as if we didn't already know.' Yet there continue to be new investors in WHX who do not understand it and assume the market has put a fair value on it, while the 'yield' is astronomical, maybe even obtainable, without doing their homework. Some of you are hoping these dividend-hungry investors will come in again and push this trust higher for the 'yield' so that you can ride it up, get out at the peak, and maybe even sell it short before it crashes around the distribution date (well,...

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