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Josh Young  

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  • Update: La Quinta Insider Selling In Size Opens The Door For Questions And Concerns [View article]
    Dallas, I really respect that you put out this update. You and I have different takes on this company, but at least we can both agree that this massive, unexplained insider selling is a negative signal.

    One question for you- have you thought about the timing of Blackstone's sale? They didn't sell any shares in the IPO but sold all the shares in the secondary. There were 2 differences: a 20% higher share price, and oil prices had collapsed. How much do you think each of those factors played a role in Blackstone selling over 1/3 of their position in LQ?
    Feb 8, 2015. 04:51 PM | 1 Like Like |Link to Comment
  • Oil Price Crash Continues To Affect Oilfield Housing - RV Parks Emptying Out [View article]
    Thanks for sharing. You can see their room rates in various cities easily by searching on kayak.com, expedia.com, etc. Their "standard" rate seems to vary between $60 in markets like Little Rock and Tallahassee to $100 in big cities. Texas and other areas with oil fields have been aberrations.
    Feb 6, 2015. 03:45 PM | Likes Like |Link to Comment
  • 4 Major Oil Service Firms Announce Job Cuts, Local Economic Impact [View article]
    Thanks for the comment Solon, and for adding some policy perspective. As an investor, it is possible to profit from the inherent cyclicality of these businesses.
    Feb 6, 2015. 02:22 PM | 1 Like Like |Link to Comment
  • 4 Major Oil Service Firms Announce Job Cuts, Local Economic Impact [View article]
    Not Weatherford's layoffs. And Weatherford increased the size of their announced layoffs by 60% in one day!
    Feb 6, 2015. 02:21 PM | 1 Like Like |Link to Comment
  • 4 Major Oil Service Firms Announce Job Cuts, Local Economic Impact [View article]
    Weatherford's more than 50% increase in layoffs, by 3,000 jobs, between their announcement on Wednesday and their call yesterday is a huge deal. It shows how rapidly the situation is deteriorating. My "book" is getting more attractive!
    Feb 6, 2015. 02:20 PM | Likes Like |Link to Comment
  • Magnum Hunter Resources: The Nightmare Is Over For Now [View article]
    Is it over? What about tight liquidity?
    Feb 5, 2015. 11:08 AM | 3 Likes Like |Link to Comment
  • ConocoPhillips' Pragmatic Management Continues To Be Ahead Of The Curve (And Exxon Mobil) [View article]
    I meant XOM! But that too. Spinoffs certainly seem to frequently outperform indicies, a la Greenblatt.
    Feb 4, 2015. 05:51 PM | 2 Likes Like |Link to Comment
  • ConocoPhillips' Pragmatic Management Continues To Be Ahead Of The Curve (And Exxon Mobil) [View article]
    Interesting article. That PSX + COP performance really blows XOP's performance out of the water!
    Feb 4, 2015. 02:50 PM | 2 Likes Like |Link to Comment
  • Oil Price Crash Continues To Affect Oilfield Housing - RV Parks Emptying Out [View article]
    Thanks for the on the ground observation. I agree that the impact will be felt widely. I'm not sure how the overall US economy might be affected, as the loss of oil income and jobs may be offset by gains from lower gasoline prices. But the Texas economy seems very likely to be hurt badly by this, as I discuss here http://bit.ly/1CvdZTA
    Feb 4, 2015. 09:48 AM | Likes Like |Link to Comment
  • Oil Price Crash Continues To Affect Oilfield Housing - RV Parks Emptying Out [View article]
    http://seekingalpha.co...

    I wrote an article about the short thesis on IRET, linked above
    Feb 3, 2015. 03:10 PM | Likes Like |Link to Comment
  • Oil Price Crash Continues To Affect Oilfield Housing - RV Parks Emptying Out [View article]
    La Quinta's average room rate is less than $100 across the whole chain. Its simpler to focus on one city (Midland) but room rates are falling across Midland, Odessa, Sweetwater, Gonzales, etc.

    The point of this article is that lodging options near oil fields are seeing much lower utilization.

    And re: Texas's economy, here is my take http://seekingalpha.co... and here is JP Morgan's take http://seekingalpha.co...
    Feb 3, 2015. 10:52 AM | Likes Like |Link to Comment
  • Kinder Morgan Buys Harold Hamm's Hiland Partners - Should Continental Have Benefited? [View article]
    Not necessarily, that $200 mm may have been paid for with the debt that Hiland incurred.
    Feb 2, 2015. 03:10 PM | Likes Like |Link to Comment
  • Kinder Morgan Buys Harold Hamm's Hiland Partners - Should Continental Have Benefited? [View article]
    Thanks for sharing this link. The lawsuit could have just been delayed or settled out of court. These things can take time to play out. I think this highlights the risk to Kinder Morgan from this transaction, and the dubious ethical nature of the transaction.
    Feb 2, 2015. 11:38 AM | Likes Like |Link to Comment
  • Oil Price Crash Continues To Affect Oilfield Housing - RV Parks Emptying Out [View article]
    We'll see. In theory it should, but oilfield wages were high and many other industry wages are lower.

    I do think an obvious impact will be lower revpar for hotels like La Quinta. With 26% of their revenue just from Texas in 2013, and with La Quintas in Midland having charged $400 per night!!! at the peak, while others outside of Texas charge $60 per night, I don't see how they will avoid the impact of this.
    Feb 2, 2015. 11:30 AM | Likes Like |Link to Comment
  • Oil Price Crash Continues To Affect Oilfield Housing - RV Parks Emptying Out [View article]
    Oil needs to go up by a lot more than it has in the last few days to reverse the lower US onshore capex trend and improve the situation for oilfield housing providers.
    Feb 2, 2015. 11:28 AM | 2 Likes Like |Link to Comment
COMMENTS STATS
886 Comments
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