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Josh Young

 
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  • Boardwalk Blows Up - $3 Billion Of Market Value Evaporates In One Day [View article]
    Devon is both not particularly cheap AND not growing particularly quickly. Austex is trading at ~1/3 of its proved reserve value and is growing rapidly.
    Feb 11, 2014. 02:53 PM | Likes Like |Link to Comment
  • Boardwalk Blows Up - $3 Billion Of Market Value Evaporates In One Day [View article]
    I agree regarding best of breed independents. But since they are so expensive, I go down a level and invest in rapidly growing E&Ps trading at large discounts to reserve value. Like Austex.
    Feb 11, 2014. 01:42 PM | Likes Like |Link to Comment
  • Boardwalk Blows Up - $3 Billion Of Market Value Evaporates In One Day [View article]
    That is certainly one perspective. But CVX has been SHRINKING while OUTSPENDING cash flow. Not a recipe for good investment returns going forward. I wrote an article about this - http://seekingalpha.co...

    The point of my article is that just because something seemed "safe" or "secure" does not mean that it is, despite strong historic returns. And that despite seeming "unsafe", certain smaller cap investments can offer a substantial margin of safety and can outperform going forward.

    Looking in the rearview mirror at investment returns only gets you so far.
    Feb 11, 2014. 10:22 AM | Likes Like |Link to Comment
  • Boardwalk Blows Up - $3 Billion Of Market Value Evaporates In One Day [View article]
    If you're looking for interesting undervalued, high growth energy stocks, you might find this one interesting: http://seekingalpha.co...

    And if you're looking for yield, you might find this one interesting: http://seekingalpha.co...
    Feb 11, 2014. 01:32 AM | Likes Like |Link to Comment
  • Why Investing In Abraxas Could Be Your Best Bet For 2014 [View article]
    I'm curious, if you think its a good investment, why don't you own it? Your disclosure says you don't own it.
    Feb 10, 2014. 11:24 AM | 2 Likes Like |Link to Comment
  • Utica Shale: Antero Revises Down EUR Estimates For Condensate Window [View article]
    Agreed, although Cabot is putting upper higher EURs than that.
    Feb 7, 2014. 07:30 PM | 2 Likes Like |Link to Comment
  • PetroQuest Energy: Recent Operations Update Highlights Lucrative Risk Reward Opportunity That The Market Is Not Seeing [View article]
    Price to cash flow is not an appropriate measure given the 3x debt to ebitda measure you cite in the article - isn't a better metric EV/EBITDA?
    Feb 7, 2014. 11:30 AM | Likes Like |Link to Comment
  • SandRidge Mississippian Trust I: Oil Volumes Disappoint Again [View article]
    David, this is an article from 2011. There has been years of production history since then. If this article were correct, SWN would be producing ~1/2 of what it is currently producing...
    Feb 5, 2014. 12:00 PM | 1 Like Like |Link to Comment
  • SandRidge Mississippian Trust I: Oil Volumes Disappoint Again [View article]
    Bill, thanks for sharing, really interesting study. I dug into Berman's work a while back. I am contrarian by nature so it was appealing, and something seemed wrong about the EURs companies were booking. But I think the study you pointed to seems more accurate and comprehensive.
    Feb 4, 2014. 10:31 PM | Likes Like |Link to Comment
  • Seeking Alpha Top Idea Explained In Non Technical Language - AusTex Oil [View article]
    I most recently bought ATXDY, perhaps that answers your question?
    Feb 3, 2014. 02:20 AM | Likes Like |Link to Comment
  • SandRidge Mississippian Trust I: Oil Volumes Disappoint Again [View article]
    Yeah, the MLPs and the trusts are pretty different.

    Great article as usual Richard.

    Question for you, if you're looking in the Mississippian, have you looked at Austex? Seems like it would be right up your alley- plenty of well results and data in their area, and radically undervalued...
    Feb 3, 2014. 01:26 AM | Likes Like |Link to Comment
  • Exxon, Chevron, Conoco And Shell Disappoint [View article]
    Thanks for the comment. The company has not yet disclosed its annual reserve report. Analysts are saying to look for it in mid-February. So we may see the level and value of their reserves then.
    Jan 31, 2014. 03:57 PM | 1 Like Like |Link to Comment
  • 3 Battleground Growth Stocks: Facebook, Tesla And Netflix [View article]
    Thanks for the comment. Seeking Alpha tends to do a pretty good job of getting interesting investment ideas out there. Here is a link to an article I wrote about one small cap I own a lot of and personally find very attractive http://seekingalpha.co...
    Jan 31, 2014. 03:55 PM | Likes Like |Link to Comment
  • 3 Battleground Growth Stocks: Facebook, Tesla And Netflix [View article]
    If you run a $10 billion hedge fund or a hundred billion dollar mutual fund, it makes no sense to buy $5-10 million of a $100 million stock like Austex. Even if you triple your money in a year, it is just a rounding error.

    However, if you are not personally a billionaire, tripling your money on a sub $10 million investment is obviously much more material.

    Since there are lots of really smart, well capitalized investors out there competing for larger opportunities, it makes sense to focus on smaller opportunities, where there may be more attractive risk-adjusted returns available.
    Jan 31, 2014. 11:46 AM | Likes Like |Link to Comment
  • Synergy Resources Offering A Lot Of Exploration Upside [View article]
    Interesting perspective. Have you looked at Austex? Could be an interesting value priced long to pair with your SYRG short.
    Jan 31, 2014. 02:46 AM | Likes Like |Link to Comment
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825 Comments
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