Seeking Alpha

jkaness

jkaness
Send Message
View as an RSS Feed
View jkaness' Comments BY TICKER:
Latest  |  Highest rated
  • Update: Penn West Petroleum - Buying When Blood Is In The Streets? [View article]
    As a PWE shareholder I was caught unawares by the recent 50% drop in the world oil price. This is not unprecedented, but the absolute oil price, denominated in gold, does appear to be unprecedented. A crude chart comparing the WTI oil price with the annual average price of gold (one-tenth ounce) since 1970 is available at http://bit.ly/1EIDiDh suggesting that either gold is very over-priced or oil is very, very cheap just now.

    PWE stock has fallen with the oil price. A crude 6-month chart is at http://bit.ly/1EIDfHJ . Oil in the ground is worth nothing. People buy oil out of the ground and delivered. While the delivered cost is greater than the market price, no one can make a profit.

    Whether this disruption is simply a supply/demand issue, or is a deliberate, planned geopolitical event will likely be the topic of many articles to come. In any event I too expect it will eventually correct itself.
    Dec 31, 2014. 09:47 AM | 3 Likes Like |Link to Comment
  • If You Own A Tesla Model S, Just Don't Dent It! [View article]
    Of course the repair parts are pricey. It's a high-end car isn't it? Decades ago a mechanic friend needed an engine part for his Cadillac. He priced the part. Then he priced the identical part (same mould marks and all) with a Chevrolet part number. Half the cost!
    Dec 24, 2014. 08:51 PM | Likes Like |Link to Comment
  • If You Own A Tesla Model S, Just Don't Dent It! [View article]
    Of course the repair parts wil be pricey. It's a high-end car, isn't it? Decades ago a friend who drove a Cadillac needed an engine part (he was a mechanic himself). He priced the Cadillac part. Then he priced the identical part (same mould marks and all) but with the Chevrolet part number. Half the cost!
    Dec 24, 2014. 08:48 PM | 1 Like Like |Link to Comment
  • Penn West Petroleum declares C$0.14 dividend [View news story]
    Cheap oil and some class action lawsuits (discussed in the 3Q earnings report) have soured many on Penn West Petroleum (PWE). The dividend is 11% if you buy today. I am long and holding.
    Nov 5, 2014. 08:59 PM | 1 Like Like |Link to Comment
  • Axion Power halves size of secondary offering to $6M [View news story]
    Looks like everything has been discussed except "cash on the barrel head" sales.
    Oct 6, 2014. 05:13 PM | Likes Like |Link to Comment
  • Axion Power halves size of secondary offering to $6M [View news story]
    Without sales, the slide toward $0 will continue. And the dearth of news fuels pessimism and worry. Whatever happened to Burlington-Northern's NS-999 switch engine equipped with PbC batteries? Are they installed yet? Obviously there has been nothing to crow about. And has ePower engine systems installed and sold those 10 sets of PbC batteries they bought? Googling both of these subjects offers no answers. Axion offers no answers.

    Someone please tell me I am wrong!
    Oct 6, 2014. 01:16 PM | 2 Likes Like |Link to Comment
  • Notable earnings before Thursday’s open [View news story]
    Dar, the website now has the press releases. I call it good news. Apparently some others are still scared. 1. Maybe they do not believe Penn West. 2. Or maybe they are scared off by all those lawyers who are still scouring two countries looking for a lead plaintiff. That deadline is apparently 3 October. As one who has been sued, and threatened with suit, for more than I will ever have (both came to nothing) I am not scared by that.
    Sep 19, 2014. 11:39 AM | Likes Like |Link to Comment
  • Notable earnings before Thursday’s open [View news story]
    Correct, Dar. PWE results are due 14 October according to them.

    This is the second SA news report I've gotten that the title mentioned PWE but the article did not.
    Sep 17, 2014. 08:03 PM | Likes Like |Link to Comment
  • Why Projections For Tesla To Sell 500,000 Cars In 2020 Are Absurd [View article]
    I know nothing about the car business, and as little about stocks it appears. But one factor stands out: This is the third SA article on TSLA today. It was running two a week and now three a day??? All the rest of my stocks together might net 2 SA articles a month!

    Is this a feverish attempt by the longs to convince themselves they are right?
    Sep 17, 2014. 11:49 AM | 1 Like Like |Link to Comment
  • Penn West says no new material changes to past financial statements [View news story]
    Further research tells me there are two different definitions of "institutional ownership". The major difference is whether or not banks are included. Why banks? The institution is presumed to utilize trained and experienced professional stock experts who know what they are doing (as well as anyone can).

    My own stocks are bought, sold, and held by my bank. Are these trades made using the bank's professional expertise? NO! In my case the trades are what I alone tell them to buy and sell. Should my bank with its thousands of individual investor accounts be included in the institutional count? You decide.

    Investopedia at http://bit.ly/1nNZ4bD says banks should NOT be included. msn.com at http://on-msn.com/1nNZ4bE says their definition does include banks. Moving my Firefox cursor over the column heading "Institutional Ownership" brings up the information "Percent of a company's shares owned by banks, mutual funds, pension funds, insurance companies and other institutions"

    So I suspect both numbers, 39% and 93% are correct depending on the definition of "institutional" used.
    Sep 11, 2014. 10:51 AM | Likes Like |Link to Comment
  • Penn West says no new material changes to past financial statements [View news story]
    My last two dividend payments arrived on 16 April and 15 July. The next one is due about 15 October: Every 3 months and about 6 weeks after the quarter end.

    BUT, I recall (but cannot find just now) the news release about the current financial review said the dividend payment would depend on what they found in the review.
    Sep 10, 2014. 04:56 PM | Likes Like |Link to Comment
  • Penn West says no new material changes to past financial statements [View news story]
    Maybe someone is dyslexic and 39% became 93% ???
    Sep 10, 2014. 04:09 PM | 3 Likes Like |Link to Comment
  • Penn West says no new material changes to past financial statements [View news story]
    And thanks for the update. I am reminded of the old adage that "figures don't lie but liars figure!" My bureaucratic experience is that all these numbers depend upon precise definitions of terms. Also there are just too many stories out there of well meaning laws being blatantly violated "unintentionally". Again, I am not arguing, just being suspicious of all the numbers!

    If your 39% number has held during all this fun then the professionals are not worried. I am long PWE.
    Sep 10, 2014. 03:37 PM | 1 Like Like |Link to Comment
  • Penn West says no new material changes to past financial statements [View news story]
    My data is from msn.com at http://on-msn.com/WJR5F0 . I am in no position to argue who is correct and will appreciate any discussion on that. Perhaps the definition of "institutional" has something to do with the different numbers.
    Sep 10, 2014. 03:03 PM | Likes Like |Link to Comment
  • Penn West says no new material changes to past financial statements [View news story]
    Info available to me says over 93% of PWE stock is owned by institutional investors and that number has actually nudged up a tad since all this fun started. The professionals seem not to be worried. At half book value, why should they? Things should look better by Christmas.
    Sep 10, 2014. 02:43 PM | 2 Likes Like |Link to Comment
COMMENTS STATS
71 Comments
103 Likes