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Linn Energy, LLC (LINE) Message Board

ibpawnin1 2 posts  |  Last Activity: Jun 4, 2014 11:24 PM Member since: Dec 29, 2002
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  • Reply to


    by ht0629 Jun 4, 2014 10:37 AM
    ibpawnin1 ibpawnin1 Jun 4, 2014 11:24 PM Flag


    Yes I spoke with David last December, he had talked to Jonathan Hoopes and gotten out of GRH where he had a large position. I hold a lot of GRH.PRC (Getting about 4.5k per month in ROC dividends). By the way if you have not been having your dividends treated as ROC, that will change. I spent some time on the phone with Ron McClung the CFO and he said they had not properly filed their form 8931, but did after I called it to their attention. He sent me an email to which he attached form 8931 which will fix that.

    Then David moved all in to MHR via MHR.PRE, the convertible preferred as I'm sure you know. I called his attention to provision that says it can be called at around 35 dollars per share. He had thought if MHR went to doubled after reaching the conversion price, so would MHR-PRE. I sent him info from the IPO prospectus to correct him.

    He did not want to leave MHR, but did for NVAX, becasue he heard the story and always wants to be all in one stock so he only has to follow the one. I think he has like 250,000 shares or some fairly large number like that.

    Anyway, he is a nice guy with an "unusual" investment approach.

    He did not get me to sell GRH and I still hold a lot of common and preferred.

    My very biggest position is MHR and all the preferreds as they also pay ROC and I use to capital gains to offset losses from other non stock ventures. It's been a nerve racking ride with them over the last 3 years but very profitable nonetheless. I know you have a large common position and had the foresight to buy it very cheap. Very nice move.


  • Reply to


    by ht0629 Jun 4, 2014 10:37 AM
    ibpawnin1 ibpawnin1 Jun 4, 2014 3:29 PM Flag

    You are probably talking about David Morse. He has since moved out of both GRH and MHR and put all his investment money in NVAX. It has not worked out well so far, at least from what I can tell. He did tend to take very large positions in one stock only. Betting it all on early early stage Biotech with one or two products is not my style, but may be a home run over the next few years. I wouldn't do it though.

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