"Could you briefly summarize those risks here?"
Hi Bob,
Sorry, I can't. :)
Not that I don't want to, it's just that the industry has a few to many unanswered issues for me. In other words, I can't sleep at night owning CPN or DYN.
I understand the terminology, the description, and the goals of the business model. What I do not understand -- and can not be assured of in my dd -- is what risks the company is taking in a speculative vs. hedging strategy -- on a day-to-day basis.
I can say that I have attempted to fully understand the industry and have previously owned AES, DYN, CPN, ENE, WMB. Ignorance is bliss. If I had to choose to own one now based upon my understanding, then it would definately be WMB.
Regarding your question, there were so many separate issues that I wouldn't know where to begin. If you listen to the WMB conference call, then I can refer to a specific issue that was addressed in the call. If you haven't listened to the 159-minute call, I really recommend it.
The business model has specific issues that I do not completely understand. The conference call explained all of the issues in a very informative way. |
