anyone of you buy line at 36/share when it was recommended by neil george at pf newsletter about a year ago and still have it? Are you happy with it? Are you happy that he now recommends buying it up to 25 and not 40 like he did a year ago? How are you doing overall with that newsletter? Has it 'made you the money' overall? Comments only. idiotracker..take a hike.
I got into LINE on the rec. of the PF newsletter, also. I liked the dividend, and at the time the statistics didn't look too bad. However, this quarter they are posting a -112% profit margin and 365% quarterly revenue growth. I am at a loss.
I can give you a possible reason for those figures. They own wells in the Los Angeles Basin. It has been many years since some of those wells pumped.
However, LA is very expensive. I've noticed many of those old, non-working fields are now being reopened... complete with disguised drilling rigs, new well heads, etc.
It's environmental & aesthetics hell because many of these wells are in residential & business areas. In some places you wonder if that "thing" is a legitimate piece of modern sculpture or is it an oil rig in disguise.
I'm seeing a lot of crying here from folks who bought into LINE too high. So did I, but the divs have almost covered the downside.
It's not the first time I've bought in too high & it can work out. I bought into SU too high. I'm still on the downside of that one. However, they did us all a real good turn the other day. They doubled our shares with a tax-exempt spin-off.
So, even tho' I'm in the hole on the original lot, I'm way ahead on that new batch.... & guess what, the share price still has not reached what I bought at originally.
I've had that happen now on 4 stocks... 3 mining stocks... & now SU.
Are we STILL exposed to the whiners from PF???! PF is a very inexpensive newsletter that gives people precisely what they pay for..ideas that can be subjected to due diligence and pursued at one's risk...
If YOU are a PF subscriber...and had "bad luck"...whatever the hell that means..Grow up..please!!
Ok, enough is enough. Go post your sad story somewhere else. Linn Energy management has done a good job of growing the company and the distribution. The market forces such as the credit crunch are outside of their control. Please quit posting your garbage on this otherwise useful and informative message board. Post your rants on one of the message boards of a company that actually failed to deliver. We can't help it that you bought high. Linn has grown production,production per unit, distribution per unit and reserves per unit at a tremendous clip....their only shortcoming was that they used too much PIPE to finance, but then again, they bought great properties with overinflated equity, so in reality, they did a good thing taking advantage of the hyper inflated market at the time.
There is something oddly eccentric and pained/vengeful about these posts by idiot952. They sound rather like the rantings of someone who feels seriously wronged and wants to strike back.
I am sorry idiot952, but I am blocking your posts as they aren't really instructive or constructive for me. Hopefully the lesson you learned is to understand your investments based on your own background investigations and not to rely on someone who doesn't have your money at risk.
Go forth and prosper.
I am not a big PF fan, but I do read it and other newsletters to see what "advisors" are saying and to contrast their views with my own for further research ideas. Part of that is to see what these "general circulation" folks are not yet recommending that might be an opportunity. Never do I take an investment newsletter at face value.
Some of PF's recommendations have been excellent, others not so great. The cash cow types of investments have included many cash pigs; their growth recommendations have had some very good calls. Considering how many stocks they recommend, I am not surprised that they get winners and losers or that their overall performance is generic.
Their recommendation of LINE at current prices is sound. They were in too soon and they learned about the problem with PIPES along with much of the investment community. Too bad for people who jumped in early, buying at $36 and then ignoring it at $19, when PF still ecommended it.
I think there were a lot of people that complained about the newsletter as a lot of the picks they recommended went BK, or are in penny stock land (ala Thornburg (TMA)). My suggestion would be to not use a newsletter to make important investment decisions by. Linn Energy is a good company, and certainly it is better at $23 than at $30 or $40. Of course, you need to do your own due dilligence but the MLPs are a good way to collect solid income and also capital gains. Linn has the unfortunate (or fortunate if you sold at the top) circumstance of being swept up and driven higher than was sustainable (to whom this is responsible is debatable, but certainly many blame the hedge funds and/or private equity investors).