Dallas Salazar
IPOs, contrarian, long/short equity, long-term horizon

Eclipse Resources Corporation: A Shiny Penny Still Isn't Worth Twenty Five Cents

I had the great pleasure of chatting with Bob Doll, former chief equity strategist at BlackRock, Inc., after a conference in Austin in the early part of 2012 and it was within this conversation that I was given some profound advice. Only it didn't seem all that profound at the time and it probably isn't something that many market participants don't know already - it just meant a lot more coming from a person of his particular clout. Mr. Doll advised me to never "confuse a shiny penny with a quarter" and that even though the market might value the penny at twenty-five cents for a while that eventually a penny is always worth a penny.

Now, understand that it...

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