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Linn Energy, LLC Message Board

  • ronharv ronharv Jun 22, 2013 12:15 PM Flag

    Cooperman Letter in Barron's

    Silly me! Google as follows: Leon Cooperman Letter in Barron's.

    Ba da bing. It's the 3rd or 4th item down. And the letter, as Roger states, is long, almost an article. But well worth reading. It obviously rankled Andrew Bary and probably his short friends also.

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    • We believe that this newly raised issue of a potentially large 2016 tax liability at Linn is a straw man erected by Bary and his short sources. Any investors who are concerned about such an eventuality should also be worried about the hobgoblins in their bedroom closet. Omega Advisors is comfortable with our investment in Linn Energy; we are convinced of the professionalism and integrity of the company's management; we are optimistic about the company's future growth and financial performance; and we believe strongly that the distortions of the three Barron's articles will not, in the end, carry the day.
      Leon G. Cooperman
      Chairman and CEO
      Omega Advisors
      New York

    • if you search for "Letters to editors Barrons Leon Cooperman Linn Energy" you will get to it online.

      "Linn's Accounting and Value
      To the Editor:
      Barron's reporter Andrew Bary is in the vise of a small group of unprincipled short sellers on Linn Energy . Barron's again has published (for the third time) distortions about Linn ["Linn Comes Clean on Derivative Costs," Follow Up, June 17]. In an earlier article, Barron's said Linn [ticker: LINE] "has for years used aggressive accounting to prettify its financial statements" [see "Twilight of a Stock-Market Darling," May 6]. Yet the latest story acknowledges that the company's financial statements are entirely accurate: Barron's writes that the item at issue, accounting for hedges, "is properly reflected in Linn's GAAP financials."

      it goes on for a couple of pages

    • Wow! Cooperman rips Barron's and their writer to pieces!

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