CNBC’s Propaganda

CNBC’s coverage this morning in the wake of Obama’s budget plan is laughable and pathetic. Obama’s “War On Wealth”? Are they presenting news and analysis or is simply a monied version of conservative talk radio? On Obama’s budget plan, I confess ignorance to the fine details. Not only that but I paraphrase Seth Klarman’s wise [...]

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Penn West Energy Q4 2008 Update

All figures CAD$ unless noted: Operating cash flow held up in the fourth quarter, dropping only 2% from Q3 to $602M. Funds flow from operations (FFO) fell 26% on a sequential basis to $490M, due to changes in working capital. The standardized distributable cash ratio (basically the ability to cover distributons from free cash flow) [...]

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Quick Update On Chesapeake Energy

Chesapeake Energy (CHK) reported earnings last week. The company didn’t have a complete set of financial statements but I direct readers to the company’s website for a closer look at the numbers or Zman’s excellent numbers breakdown at his blog. I will be focusing on the prospects for this investment. Key takeaways from the earnings [...]

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Brookfield Asset Mgmt Holding Up In Global Downturn

Brookfield Asset Management (BAM) has a lot of moving parts in its operations so I’ll briefly highlight key financial results and follow with my thoughts on the investment going forward. I highly encourage readers to review BAM’s earnings release at their website: In a difficult year, Brookfield Asset Mgmt generated $1.4B in free cash flow [...]

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13F Clarifications & A Warning

Some readers have submitted further clarification on the Jim Puplava stake in Tyhee Development Corp, a junior gold exploration company. I had noticed Tyhee was no longer listed in the 13F SEC filing and mistakenly assumed he divested the stake. Rather, it appears Puplava is not required to disclose stakes in companies of that nature [...]

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Boone Pickens, David Winters & Jim Puplava Q4 2008 Holdings

Boone Pickens’ recent investment hiccups have been well-publicized. A few months back, Pickens appeared on CNBC and disclosed that he had moved BP Capital almost entirely to cash. As you can see in the spreadsheet view, he wasn’t exaggerating. Still, Pickens found did retain and open a few positions: Pickens bought new stakes into Chesapeake [...]

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