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ClearBridge Energy MLP Fund Inc Message Board

  • witcosocrates witcosocrates Oct 10, 2008 3:56 PM Flag

    Something is up

    The current stock price is a travesty.

    Even with the current general mkt carnage, fair price is around $4/share....

    Look at the recent spike in volume just about the time of the latest stock price crash.

    Somebody really big sold out. Who?

    There are three likely candidates.
    1. Nelson Peltz - He may be raising cash due to other problems in his portfolio.

    2. A major mutual fund - American Funds or Fidelty would be my guess. They would be selling to raise cash due to all of their retail customers cash out ( a sign of a general mkt bottom by the way).

    3. All of the major insiders because there is a refinancing liquidity crunch on the horizon for this company that I don't know about and haven't read about....

    If I were a gambler ( and not the investor that I am) I would dive in here now and buy 100,000 shares.... but until I understand more about who sold and why, I am staying clear of this stock.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • sorry meant no disrepect to the pilot and the crew. if you give them parachutes no need to send an emergncy crew, in case they survive the initial crash who gives a f#$k

    • 1) To revive this company, any incentive to travel should be suppressed, including making it more difficult, and unpleasant. No private plane, no fancy hotels, no good meals.
      2) In answer to your question, I count three losses: the pilot and crew, the airplane (although there insurance may get them out of the plane/lease/rental/time share/whatever weird arrangement they are under), and time lost by an emergency crew responding and investigating the scene. My recommendation is to equip the crew with standard military issue parachutes, and the executives with GOLDEN Parachutes, just as they would like.

    • Maybe it was our boy Bob. He must be getting ready to bail out, hauling his golden parachute, as he (most certainly the board doesn't have the brains to take this smart a step) put the company flying chariot up for sale. My neighbor sells airplanes (or used to) for a living and called me to tell me he got an e-mail saying Chemtura's airplane was listed a couple of weeks ago.

      Heck, maybe they are buying a bigger airplane, so Bob can take more golf-clubs??

      • 1 Reply to glkjanitor
      • In light of new information from the Janitor, I make a motion to re-title this thread "Something is down..."
        I wonder how many people will take credit for the cost savings associated with relinquishing the aircraft?
        And Mr. Janitor, I hope you're a contractor, because employees have signed a confidentiality agreement that prohibits talking about any going's on inside the company, especially on message boards, and, in some cases, even if you learn it from other people. So if you are an employee, please report yourself to the nearest HR manager and be prepared to re-take this months ethics training course because you just earned an "F" for the last one you took!
        Contractors, you are free to move about the cabin until the fasten seat belts sign is on, but talking about the company is still not restricted.

    • Because Peltz/Trian is deemed an 'insider', any change in holdings must be followed by a Form 4 within 24 or 48 hours (not sure which one it is). If Peltz was liquidating, then it would be revealed within about a day. He is an awful investor, and totally stepped in poop with this one. WEN too.

    • peltz filed somethign recent, u can see it on sec.gov

 
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