This morning I purchased a full 10% position of ALDW for $18.73 per share. The company is on fire from cheap crude oil and a wide crack spread. Prices for refined products like gasoline have firmed up noticeably in the past month or so, and the company’s 2014 numbers were solid.
I have a full write up on ALDW coming in the next edition of the Income Investment Report (to be released this weekend) and will be releasing the analysis of this company as a freebie to the masses, as a token act of goodwill.
My cash position is down to 30%.
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10%- not again
I’m not getting the meaning of this
A 10 % position in an unstable oil market
well it feels like it’s a hail mary pass.
1) All my real positions are at least 10%. 5% positions are hobbies.
2) How many wells do you think ALDW owns? I would be delighted to hear this…
love the chart in relation to the sentiment chart.
Gorby, it’s a refiner not an E&P. It doesn’t take commodity price exposure; it takes exposures on spreads (i.e. spread between refined products and oil; spread between brent and crude).
Cain, I bought ALDW a couple weeks ago and it’s good to know that an investment of mine is appealing to someone that’s got your industry knowledge. Plus, I was happy to know that Klarman owns shares.
It’s also assuring to know Icahn has such a large stake in the industry, via CVI / CVRR.