You win, to be certain. However, as mechanistic, redundant, and wrong as DWT always is, if you held his noise (not his argument,) up to scrutiny, you would hear a troubling echo..
MHR has been a serious disappointment this year. Its leadership has been mangled, its infrastructural management has been lumbering and lethargic, and its debt management has been precarious. We know that the property and the pipeline are fine investments, yet managing them has been, at best, an unpolished affair. MHR boasts the best media-positioned baby oil CEO in the industry, yet the CEO has poorly managed that position, too, by overstatement and misdirection.
When I compare MHR to KOG and TPLM (just two examples from my portfolio), I am disappointed--not by the fact that it has been the worst performer, but by the fact that it is better positioned for quick returns in the Utica than KOG(debt-restrained and still, despite improvements, cost-constrained) and better-heeled,, in terms of property and pipeline, than TPLM (terrific structure, superb management, on KOG-type property).
There is a lot of talk on this board by guys who follow successes well by well (I am amazed by their diligence). They know that MHR, even with its misses, should be at $9 to $9.25 right now. But, MHR is still waiting for its day.
Hold because, overall, MHR has had a good run. and , as has already been said, will probably pop a bit fairly soon. But don't dismiss, entirely, DWT's noise. A lot of it is the echo of GE's growing Napoleonic complex.