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Gold/Mining/Energy : Canadian REITS, Trusts & Dividend Stocks

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To: Peter W. Panchyshyn who wrote (2220)	12/15/2001 10:52:01 PM
From: Lorne Larson	Read Replies (2) of 11633

Peter Panchyshyn: I have no interest in reviewing the hundreds of posts between stan and you. Just post the info concisely and clearly - your oil and gas trust position on May 15/01 and your position today. I'll help you out a little bit. You have stated a number of times that you have owned ERF and PGF for a number of years. ERF on May 15 was 30.60; today it is 23.93 for a drop of 22%; PGF on May 15 was 21.55, today it is 13.17 for a drop of 39%!!!. You have stated in a previous post that you had bought NCF at 18, at 16, and at 14; today it is 11.60, for a drop of 27.5% (using 16 as your cost). All along you've been telling people these things are oversold - I refer to your post of June 28. For a genius like you that's a pretty shoddy performance. As for your warrants you stated in July that "there is a good chance these will provide in December conversion at a respectable spread". How "respectable" is 0, Peter?. The argument on this site is not whether the trusts are a good or bad investment over time. They obviously are and I personally made very very nice money on them in 2000 and the first half of 2001. The question is whether you can time them. I disposed of almost all my trusts over the summer - wish I had sold them in May! I'm now starting to nibble at them again. Pretty basic analysis. If you sold PGF in the summer at $19.00 and are buying it now at $13.00, you are a lot further ahead than if you held throughout. I'm not interested in PGF. However I bought some PVE at $8.18 and will be buying more next week in order to get the January dividend. Beats buying it at $12.00 which it was at in June. I also starting buying AVN in October (post 1713) at around $7.70. Beats buying it in June at $11.80. Also going to buy some AY - hope it will get a little lower but it's a real nice looking trust and it may be that $9.75 is a good entry point. My big mistake was holding onto about half of my PWI. Not interested yet in ERF, SHN, NCF and PGF. Anyway, look forward to your May 15 positions. Should take you about 5 minutes for you to post. Not a big imposition given the amount of time you spend on this board.

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