July 2, 2013
Go to “Investments Core Portfolio” for current holdings.
(Update August 2013: In retrospect I should have dumped LNCO. A rule in investing………never fall in love with a stock. And I broke the rule. This dud continues to decline and the news is bad. But, the loss is now so bad (its still a paper loss) that I refuse to sell. I am holding on for the ride. The Company will be around for a long time and it will eventually come back…..someday. This mess also reminds us of another investing rule…….never put more than 1% of a portfolio in a single issue. More news: I received a note today saying that Goldman Sachs is maintaining their BUY.)
“Leon Cooperman, former Goldman Sachs (GS) CEO and current portfolio manager of $8.4 billion hedge fund Omega Advisors,
The hedge fund manager added nearly 3 million shares of the energy producer to his portfolio during the last quarter — bringing his total count to above 7 million. Overall, Omega Advisors isn’t concerned with how Linn Energy accounts for its hedging program. More importantly, Cooperman stated during an interview with CNBC that he had spoken to management of Berry Petroleum (BRY) about the firm’s proposed stock merger with Linn and cited that the company remains committed to that deal.”
LNCO took a hit this week on the SEC investigation and also some news about a hedge fund playing games. But I am holding on to LNCO. This is an excellent example of why I tell people that a single position should represent no more than 1% of the portfolio.
Go to “HOME” (top of page) for the most current posts. (Please respond to POLL Click Here) This blog discusses dividend paying investments that I find appropriate for myself…..and for investors seeking dividends and income. I am not an investment professional. You must do your own research before buying any position. All gains or losses that you realize are based on your choices.