I hope people don't pay to go to this conference and listen to somebody regurgitate Barron's. These shorts have a vested interest in trying to sabotage the Berry deal which crushed them the last go round.
Are these hedge funds reliable or are they simply lying to get their shorts to be profitable. Line is hedged to year 2015 (or so i think) so if they make profit from those hedges, so be it. Does Cooperman and others not want to come forward to attack these crooks.
The funny thing about the criticism of the hedges is that analysts have been touting them for years as a positive for LINE. The theory was simple. If natural gas is selling at $3 and you've got the price locked in to sell natural gas at $5, then the only thing that would make it a bad deal is if the price of natural gas rises above the $5 hedged price. At that point, you're selling below market.
Before XTO aka Cross Timbers Oil was acquired by Exxon, they used to the same thing--albeit to a lesser extent. XTO generally hedged a smaller percentage of their natural gas, so that if there was an uptick in the market, they could capture larger returns.
Anyway, I agree that talking parrots don't make for good financial advice.