Penn West Energy Fair Value Estimate

It’s been awhile since I’ve commented on Penn West Energy Trust — these days, I save my stock specific analysis for Enlightened American Premium members — but I have blogged a bit about PWE in the past and so will share some brief comments. The arrival of Murray Nunns has definitely invigorated Penn West on [...]

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East Vs. West

This week, Barron’s interviews Ian Bremmer [$] of the Eurasia Group, with the main theme being the fundamental incompatibility between (pseudo) market capitalism (U.S.) and state capitalism (China) and the possible fall-out due to¬† friction between the two models. Bremmer’s musings continue a seeming trend in which economists and historians, most notably, Niall Ferguson, see [...]

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Big Pharma Primes The Pump

Consider this article in the Wall Street Journal on increased prescription drug prices last year, despite the “Great Recession.” Obviously, the drug makers are trying to get their licks in now before the health care overhaul takes effect, despite transparent denials by their various spokespeople. This serves as yet another example of the difficulty of [...]

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Market Themes Beginning To Emerge

Following on last post’s observation of the implications of an economic recovery taking hold, I present readers with a trio of intriguing stories from the Wall Street Journal. First, EOG Resources (EOG) announced a change in focus as it seeks to apply new horizontal drilling techniques to search for oil. Despite the company’s assertion that [...]

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Portfolio +1.3% YTD

THE ENLIGHTENED-AMERICAN PORTFOLIO SPREADSHEET Enlightened-American Portfolio: +1.3% through Mar, 2010 (my actual IRR, including cash balance) DJIA: +4.1% Nasdaq: +5.7% S&P 500: +4.9% DJ Wilshire 5000: +5.8%% Russell 2000 (smallcap): +7.0% What a difference a month makes. In the span of 31 days, the Enlightened-American portfolio went from outperforming the indices for the year to [...]

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