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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: ChanceIs who wrote (65971)6/16/2006 1:41:54 AM
From: GaAs52  Read Replies (1) of 206249
 
Mr. Aubrey McClendon needs a prudent financial advisor. Apparently, he finances these purchases with margin using his current CHK stocks as collateral (from previous discussion on the board) . How can it be sensible when one owns ~25 M shares, with cost basis at low single digits or less, and then goes on margin to increase his position by a percent or so at ten times + of his average cost basis.

With all due respects to Mr. Mclendon and his success at CHK, these purchases are nothing nore than cheap shots to hype the CHK stock price. He would be better off focusing on his business than worrying about his daily CHK purchases of no significant value to himself.

I will be a CHK owner when CHK buys ng properties when ng is at 52 week lows, not 52 week highs, and using its cash flow for purchases rather than issuing CHK stock, which was deemed to be extremely undervalued.
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