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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: E_K_S who wrote (42089)	3/31/2011 11:21:25 AM
From: Madharry	Respond to of 78525

not a bad return on the preferred but i think i will stick to the gmxr and mhr stock that i own. after listening to the conference call on TTT I decided that I continue to be very comfortable with Mr. Smith managing my money. Since I can buy shares at a small discount to tangible book value,. I added about 25% to my already substantial stake in the company and i hope he will be able to grow the book value of the business over time. I would recommend those interested to listen to the conference especially to the Q&A. Mr. Smith seems forthright about his goals for the company and he seemed responsive to the many questions asked.

To: E_K_S who wrote (42089)	3/31/2011 1:30:59 PM
From: Jurgis Bekepuris	Read Replies (1) \| Respond to of 78525

GMXR and its pref: Can you explain why they have huge "Impairment of oil and natural gas properties and assets held for sale" for the last 3 years? Did they buy some assets that suck so much they have to be impaired for 3 years running? Is it because they are gas-heavy and natgas prices keep crashing? I find it disturbing that E&P has to impair assets during a year when oil price went up to $90 or so. Balance sheet is a mess. There's debt, then there's prefs accounted as equity but which really is about another 50M of debt (look at how MHR accounts for prefs), there's no cash. IMHO GMXR pref should drop quite lower to be attractive. At least MHR has cleaner balance sheet.