Zeev's Turnips Patch-No Politics (ZEEV)

[Zeev Hed]

I think you should listen to WLD. But why don't you ask your broker to do some home work for you. Ask how much of the assets on the books are related to the fiber optics network they have and what is the current value of these assets. The fact of the matter is that their sales are declining, and in the last few quarters, at least one quarter they were not able to cover their interest payment. In the last quarter they had a big chunk (equal to their interest liabilities) of "other income", and I for one don't know what that is.

If you really want to have some of these energy companies (ILA, MIR, WMB, DYN etc), I think that a wiser choice would be to buy a package of them, some will go to zero (let say you buy six of them, two vanish and four survive), but the survivors should pay for the vanishing one. I for one, do not have the time that these complex (and non transparent) balance sheet require to decide which has a chance to survive, so I do not touch them. I tried to read some of MIR's documents, and I gave up in the middle. (g).

Zeev