Thursday, December 20, 2012
The Eagle that Turned Out to Be a Turkey
It is Eagle Energy Trust (EGL-UN.TO) that came with recommendations from a friend who uses a financial adviser for his account and from Mich (www.beatingtheindex.com) whom I still trust, at least more than me :).
My friend sent me some time 10 months ago an e-mail with the subject 'load up, boys', he said target price was $14.5 to 20, 10% yield at that moment and they were a 'bunch of Income Trust refugees who are doing it in the States now, protected from Harper taxation'.
It sounded good (but not that kind of good not to be true), I 'loaded up' and that proved fatal not only for me and my wife's account but everyone else who still has the stock.
Eagle Energy Trust 2013 Outlook
Average buying price: around $11
Price now: $7.9
And here comes the turkey